Southern Alliance Mining Provides Updates on IPO Proceeds

MT Newswires · 06/14/2022 15:54

03:52 AM EDT, 06/14/2022 (MT Newswires) -- Southern Alliance Mining (SGX:QNS) utilized SG$601,000 ($432,090) more of the total SG$11.9 million in net proceeds raised from its initial public offering in Sept. 2020.

The mining and exploration company still has SG$4.8 million of proceeds left in the balance as of June 13, according to a Monday bourse disclosure.

The company said the use of the IPO net proceeds was in accordance with the intended use disclosed previously.

Southern Alliance Mining's shares were down nearly 2% in recent trade.

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