Image Source: Rosana Prada
Matthew Neville

London gold mining company expands into diamonds with raising of £815k in placing

London headquartered gold and nickel exploration and development company Katoro Gold PLC announced it has successfully raised total gross placing proceeds amounting to £815k.

This is via the issue of 81.5m new ordinary shares at 1 pence per share, of par value £0.01 each facilitated by its broker, SI Capital Ltd.

Each placing share has one warrant attached which is exercisable at 1.5 pence per warrant and with an exercise period of 24 months from the date of issue.

Proceeds from the placing will be utilised primarily to fund the further advancement of the Haneti Nickel Project, where the company intends to forthwith commence with a diamond-drill drilling campaign, and for working capital requirements.

Application will be made for the admission of the placing shares, with such admission expected to become effective on or around November 12 2021. Following admission, the share capital of the company will comprise 460,412,593 Ordinary Shares.

Each ordinary share has one voting right. No ordinary shares are held in the treasury. Accordingly, the total number of voting rights will be 460,412,593.

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