By Ian Walker
Technology Minerals PLC said Wednesday that it has raised 400,000 pounds ($459,280) via a share subscription and will use the money toward operations at the Tipton lead-acid battery recycling plant in England.
The battery-metals company has issued 32 million new ordinary shares at 1.25 pence each, a 19% discount to its closing price of 1.55 pence on Tuesday.
"The funds will enable us to scale our operations at the Tipton plant and commence generating meaningful cash flow. It will also help as we lay the groundwork to commence automated production, pending approval from the Environmental Agency," Chief Executive Alex Stanbury said.
Write to Ian Walker at ian.walker@wsj.com
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