Poseidon Nickel Closes heavily oversubscribed SPP
- Poseidon Nickel (POS) has successfully closed its share purchase plan (SPP) which was heavily oversubscribed
- Under the SPP, eligible shareholders were given the opportunity to purchase up to $30,000 new shares for 11 cents per share
- The company originally targeted to raise $3 million and has agreed to take up $6 million in applications for the SPP which totals around 54.5 million shares
- Under the SPP, eligible shareholders were given the opportunity to purchase up to $30,000 new shares for 11 cents each
- Funds from the raise will help the company progress its Black Swan project towards a potential recommencement of operations in 2022
- Poseidon ended the day up 4.35 per cent to close at 12 cents per share
