Alien Metals Raises GBP2 Million via Share Issue

05:50 AM EST, 12/11/2025 (MT Newswires) -- British mineral explorer and developer Alien Metals (UFO.L) said Thursday it raised 1.8 million pounds sterling by issuing 2 billion new shares to investors at 0.0009 pound per share. Further, Bennelong Resource Capital agreed to convert 250,000 pounds of convertible notes into 277,777,777 shares of the company at the placing price. Alien Metals plans to use the offering proceeds, together with available cash resources and anticipated proceeds of the sale of its Munni Munni joint venture, for the ongoing work on its iron ore project, for general working capital, and to partially or fully repay the Bennelong funding facility.