REG - Katoro Gold PLC - Additional funding pursuant to Fundraise

Katoro GoldAnnouncement

14/02/2024 11:00

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RNS Number : 1301D  Katoro Gold PLC  14 February 2024

 

 

Katoro Gold plc (Incorporated in England and Wales)

(Registration Number: 9306219)

Share code on AIM: KAT

ISIN: GB00BSNBL022

('Katoro' or 'the Company')

 

Dated: 14 February 2024

 

 

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

 

Additional funding pursuant to Fundraise

Issue of Equity & TVR

 

Katoro Gold PLC (AIM: KAT), the strategic and precious minerals exploration
and development company, announces a further financing update to shareholders.

On 12 February 2024 the Company announced a financing raising £750,000.
This announcement may be viewed through the link below:

https://polaris.brighterir.com/public/katoro_gold/news/rns/story/xljg7pr
(https://polaris.brighterir.com/public/katoro_gold/news/rns/story/xljg7pr)

The Company's broker SI Capital Limited has received, and the Company
accepted, a further order from a single institution raising an additional
£75,000 cash for the Company (the "Additional Financing").

This Additional Financing increases the total amount raised to £825,000
before expenses including the £750,000 announced on 12 February 2024.  The
Additional Financing is conditional only on admission of the Additional
Financing Shares to trading on AIM (the "Admission").

For the Additional Financing the Company is to issue 75 million new KAT
ordinary shares of 0.1p ("Ordinary Shares") at an issue price of 0.1p per
share (the "Additional Financing Shares").

Each Additional Financing Share will have an attaching warrant to subscribe
for a further KAT new ordinary share at an exercise price of 0.2p per KAT
share, with a life to expiry of 3 years from the Admission date (in total 75
million "Additional Financing Warrants").

Should the volume weighted average price ("VWAP") of KAT meet or exceed 0.5p
for 5 trading days, KAT will have the right but not the obligation to issue
the warrant holder with ten business days' notice to exercise some or all of
their remaining Additional Financing Warrants (the "Acceleration"). To be
clear, this means KAT may choose to effect the Acceleration in stages.

ADMISSION AND TOTAL VOTING RIGHTS

Application will be made for the 75,000,000 Additional Financing Shares to be
admitted to trading on AIM which is expected to occur on or around 20 February
2024 ("Admission"). The Additional Financing Shares will rank pari passu in
all respects with the existing Ordinary Shares currently traded on AIM.

Following Admission, the Company's issued share capital will comprise
1,575,214,613 ordinary shares of 0.1 pence each. This number will represent
the total voting rights in the Company and may be used by shareholders as the
denominator for the calculation by which they can determine if they are
required to notify their interest in, or a change to their interest in, the
Company under the Financial Conduct Authority's Disclosure and Transparency
Rules.

 

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
(http://www.katorogold.com) or contact:

 

 Louis Coetzee    Info@katorogold.com (mailto:Info@katorogold.com)  Katoro Gold PLC           Executive Chairman
 James Biddle     +44 207 628 3396                                  Beaumont Cornish Limited  Nominated Adviser

 Roland Cornish
 Nick Emmerson    +44 148 341 3500                                  SI Capital Ltd            Broker

 Sam Lomanto

 

Beaumont Cornish Limited ('Beaumont Cornish') is the Company's Nominated
Adviser and is authorised and regulated by the FCA. Beaumont Cornish's
responsibilities as the Company's Nominated Adviser, including a
responsibility to advise and guide the Company on its responsibilities under
the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed
solely to the London Stock Exchange. Beaumont Cornish is not acting for and
will not be responsible to any other persons for providing protections
afforded to customers of Beaumont Cornish nor for advising them in relation to
the proposed arrangements described in this announcement or any matter
referred to in it.

 

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