Elementos (ASX:ELT) completed a AU$5 million private placement to Metals X (ASX:MLX), issuing 58.3 million shares at AU$0.085 per share, according to a Friday filing with the Australian bourse.
The company appointed current Metals X executive director Brett Smith and Chief Financial Officer Daniel Broughton as additional directors, in line with the agreement with Metals X, the filing said.
Elementos shares climbed 6% in afternoon trade Friday, while Metals X shares rose nearly 1%.
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