Beowulf Mining (AIM:BEM), the AIM-listed mineral exploration and development company, has secured binding subscriptions totalling £4.3 million.
The raise is anchored by a £3.7 million strategic investment from Bacchus Capital Advisers and its affiliated entities, with the balance drawn from a broader subscription.
Board and senior management are participating alongside outside investors, committing an aggregate of approximately £168,000, with contributions from chief executive Johan Röstin, non-executive chairman Mikael Schauman, non-executive directors Christopher Davies and Rasmus Blomqvist, and the managing director of subsidiary Grafintec Oy.
The financing remains conditional on regulatory approvals, including Foreign Direct Investment clearance in Sweden, as well as shareholder approval at the general meeting on 23 July.
