|
|
Botswana Diamonds Raises $813K for Exploration, Working Capital
Dec 21, 2015 8:33 AM
By Rapaport News
|
|
|
RAPAPORT... Botswana Diamonds raised $813,099 (GBP 545,316) through an
issue of 64.2 million shares to finance exploration activities in Botswana and
provide additional working capital.
The diamond exploration
group raised $683,882 through a private placement of 54 million new shares, according
to a statement December 18. Some of the shares were bought by directors and
people connected to the company, including executive chairman John Teeling and
finance director James Finn. Each new share, priced at 1.27 U.S. cents, also
includes the right to buy one more ordinary share at the same price for the
next three years.
The company has settled a further $129,217
of existing liabilities with certain directors through a conditional issue of
10.2 million new shares. These liabilities had accrued because of “unpaid”
directors’ fees, the statement said.
The share issue was
approved at the company’s annual general meeting in London December 18. The
company, which is listed on the London Stock Exchange’s Alternative Investment
Market, expects shares to be admitted to trading December 24.
|
|
|
|
|
|
|
|
|
|
Tags:
Botswana, Botswana Diamonds, capital markets, financial, mining, Rapaport News
|
|
|
|
|
|
|
|
|
|
|