The company, which invests in the natural resources sector, posted a pretax loss of
Reabold was suspended from trading on AIM at the end of December after failing to make an acquisition in the required time limit since its conversion to become an investing company a year earlier. The company is yet to record any revenue.
The firm said its net assets showed a deficiency of
During the period, the company identified a proposed acquisition which would constitute a reverse takeover, however this was not completed in the required time limit. The transaction has now been terminated due to the target company pursuing a non-public strategy rather than proceeding with the AIM floatation process.
Reabold now hopes to raise around
However, Reabold said while it believes there are positive cyclical investment opportunities in resources stocks, these may be subject to significant volatility in financial markets and commodity prices, as well as other potential risk areas, including operational, geological, environmental, sovereign issues and access to capital.
The company now hopes to move forward and have its AIM suspension lifted.
Most Popular Stories
- Prosecutor to Investigate Walmart Police Shooting
- GM to Announce New Jobs in Tennessee
- Mark Sanchez Suddenly a Hot QB Commodity
- Smith & Wesson Misses Target
- Emirates Hit Libyan Targets With Airstrikes
- Marco Rubio Warns Obama on Deportations
- Michael Brown Funeral: Can Americans Change the Script of Violence?
- American Killed With ISIS Fighters in Syria
- Surf's Up! SoCal Prepares for Big Storm Surf
- Ford Hires 300 at Louisville Lincoln Plant