The exploration company Beowulf Mining provides an update on the directed share issue of GBP 4.3 million, equivalent to SEK 54 million, announced at the beginning of July, according to a press release. The financing agreement was announced on 7 July and approved at the annual general meeting on 23 July.The largest investor is Bacchus Capital and related companies, which are investing GBP 3.7 million, equivalent to SEK 47 million. Following the transaction, Bacchus will own 58.7 percent of the shares in Beowulf. The financing requires approval under Swedish foreign direct investment rules from the authority ISP, the Inspectorate for Strategic Products. Beowulf expects approval from ISP around 11 September, and the directed share issue will thereafter be completed two or three days thereafter.