- Allegiance Coal (AHQ) enters a trading halt while it plans an upcoming capital raise
- Currently, it is unknown how much the company is aiming to raise or where the funds will be spent
- It is not known how much the company is aiming to raise but did hint if an upcoming acquisition
- On the market, Allegiance last traded at 58 cents per share
Allegiance Coal (AHQ) has entered the day into a trading halt while it plans an upcoming capital raise.
It is not known how much the company is aiming to raise but did hint of an upcoming acquisition.
Under the halt, company shares will be paused until Thursday, October 11, or when more details about the raise and acquisition are announced.
Allegiance Coal is an Australian-based company involved in purchasing and exploring coal tenements. The company is focused on the development, operation and supply of steel making coal to the seaborne market, as well as Pacific and Atlantic markets.
The company owns the Tenas and New Elk Projects.
The Tenas Project is a steelmaking coal project that sits in the Telkwa coalfield in northwest British Columbia.
New Elk is located in Las Animas County in southeast Colorado and was recently purchased by Allegiance in October 2020.
On the market, Allegiance last traded at 58 cents per share.