Irish exploration company Celtic Resources Holdings said it will place 10,854,700 new ordinary shares at 11.7 cents per share to raise euro 1.27 million.
The company will also issue 5,427,350 warrants that give holders the right to subscribe for ordinary shares at an exercise price of 16.25 cents per share.
The funds raised will be used principally for the advancement of the Nezhdaninskoye gold project in Kazakhstan and for ongoing operations.
Application will be made for the placing shares to be admitted to dealing on the Exploration Securities Market of the Irish Stock Exchange.
