Katoro Raises £815,000 in Placing

RNS Number : 5720R

Kibo Energy PLC

08 November 2021

 

Katoro Gold plc (Incorporated in England and Wales)

( Registration Number: 9306219)

Share code on AIM: KAT

ISIN: GB00BSNBL022

("Katoro" or "the Company")

 

Dated: 08 November 2021

Katoro Gold PLC ('Katoro' or the 'Company')

Katoro Raises £815,000 in Placing

Katoro Gold PLC (AIM: KAT), the gold and nickel exploration and development company, is pleased to announce that it has successfully raised total gross placing proceeds amounting to £815,000 (the "Placing") via the issue of 81,500,000 new ordinary shares at 1 pence per share, of par value £0.01 each (the "Placing Shares") facilitated by its broker, SI Capital Ltd. Each Placing Share has one warrant attached which is exercisable at 1.5 pence per warrant (the "Exercise Price") 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.

Admission and Total Voting Rights

Application will be made for the Admission of the Placing Shares, with such Admission expected to become effective on or around 12 November 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 treasury. Accordingly, the total number of voting rights will be 460,412,593 and this figure may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, Katoro under the FCA's Disclosure Guidance and Transparency Rules.

Kibo Energy plc ("Kibo") did not participate in the Placing and following the issue of the Placing Shares and Admission, Kibo will be interested in, in aggregate, 96,138,738 Ordinary Shares representing approximately 20.88% of the Company's then issued share capital.

This announcement contains inside information as stipulated under the Market Abuse Regulations (EU) no. 596/2014.

**ENDS**

For further information please visit www.katorogold.com or contact:

Louis Coetzee	[e-mail]	Katoro Gold plc	Executive Chairman
Bhavesh Patel Andrew Thomson	[phone]	RFC Ambrian Limited	Nominated Adviser
Nick Emmerson Sam Lomanto	[phone]	SI Capital Ltd	Broker
Isabel de Salis Oonagh Reidy	[phone]	St Brides Partners Ltd	Investor and Media Relations Adviser

 

END

 

 

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