Kavango Resources - Completion of £1.4million Financing
14/06/2023 07:00
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RNS Number : 6735C Kavango Resources PLC 14 June 2023
PRESS RELEASE
14 June 2023
KAVANGO RESOURCES PLC
("Kavango" or "the Company")
Completion of £1.4million Financing
Kavango Resources plc (LSE:KAV), the Southern Africa focussed exploration
company, is pleased to announce that following the approval of all of the AGM
resolutions by shareholders on 8 June 2023, it has completed Stage 1 of the
two-stage equity investment (the "Stage 1 Subscription") (>>>
announced 09 May 2023
(https://polaris.brighterir.com/public/kavango_resources_plc/news/rns/story/rm4dy8r)
) to raise £1,400,000 by the issue of 140,000,000 New Ordinary Shares in the
capital of the Company ("New Ordinary Shares") at a price per share of 1
penny.
Use of funds
Funds from the Stage 1 Subscription will contribute to the Company's general
working capital, will further fund proposed exploration work and provide
finance for possible acquisitions.
Admission
Application will be made for the New Ordinary Shares to be admitted to the
Standard List segment of the Official List and to trading on the main market
of the London Stock Exchange plc ("Admission"). It is expected that
Admission will become effective and that dealings in the New Ordinary Shares
will commence at 8.00 a.m. on 28 June 2023.
Total Voting Rights
Following Admission, the total issued share capital of the Company will
consist of 845,569,314. Therefore, the total number of voting rights in the
Company is 845,569,314 and this figure may be used by shareholders in the
Company as the denominator for the calculations by which they will determine
if they are required to notify their interest in, or a change in their
interest, in the share capital of the Company.
Further information in respect of the Company and its business interests is
provided on the Company's website at www.kavangoresources.com
(http://www.kavangoresources.com/) and on Twitter at #KAV.
Further information in respect of the Company and its business interests is
provided on the Company's website at www.kavangoresources.com
(http://www.kavangoresources.com/) and on Twitter at #KAV.
For further information please contact:
Kavango Resources
plc
Ben Turney
bturney@kavangoresources.com
+46 7697 406 06
First Equity (Broker)
+44 207 374 2212
Jason Robertson
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