Rio Narcea raises funds

Alberto Lavandeira-led Rio Narcea Gold Mines (RNG-T) has completed a private placement of 8 million special warrants priced at 80 each.

Haywood Securities acted as agent for the placement and subscribed to 1 million additional special warrants at the same price, bringing the total number of special warrants sold to 9 million and aggregate proceeds to $7.2 million.

One warrant allows the holder to buy, without further payment, one Rio Narcea share.