Aim-listed Botswana Diamonds recently initiated a share placement and subscription, targeting both existing and new investors.
The objective is to raise £380,000 through the issuance of 76 million new ordinary shares priced at £0.0025 each, with a placing price of 0.5p per share.
Each of the newly placed shares comes with a warrant, granting the holder the right to subscribe for an additional new ordinary share at 0.5p per share within a two-year period from November 27.
These placing shares are set to hold an equal rank alongside the company’s existing ordinary shares.
The company’s current operational focus centers on exploration activities across its assets in Botswana and South Africa.
The raised capital from this placement is earmarked for sustaining and advancing these exploration endeavors, as well as bolstering additional working capital for Botswana Diamonds.
