Paternoster Resources completes £242,000 share placing

30th Dec 2014 08:13

Mining and energy investor Paternoster Resources completed a share placing to raise £242,250 and admitted 95m shares to trading on AIM on Tuesday.Paternoster, which has stakes in companies such as Metal Tiger and Plutus Powergen, plans to use the proceeds of the placing at 0.255p per share to develop its investment portfolio and pursue extra opportunities that it expects to arise.Chairman Nicholas Lee said: "I am pleased to announce that, even with the backdrop of a challenging market, we have been able to raise additional capital for the company to expand our portfolio and we welcome new shareholders to the register."We continue to focus on taking meaningful positions in small companies that have significant potential for capital growth. We are increasingly seeing attractive opportunities."Shares were unchanged at 0.25p at 13:09 in London.