REG - Kavango Resources - Additional Fundraise in the UK and Zimbabwe

Kavango ResourcesAnnouncement

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RNS Number : 5749V  Kavango Resources PLC  06 March 2026

6 March 2026

Kavango Resources PLC

("Kavango" or the "Company")

Additional Fundraise in the UK and Zimbabwe, Director Subscription

Kavango Resources plc (LSE:KAV, VFEX:KAV.VX), the Southern Africa focused
metals exploration and gold production company, is pleased to announce that it
has raised, by way of subscription, approximately US$4.7 million in Zimbabwe
(the "VFEX Subscription") at the equivalent of £0.01 per share (the exchange
rate which is set out in the VFEX Prospectus) (the "VFEX Shares") and £2.8
million in the UK at £0.01 per share (the "UK Subscription"). The Company has
therefore raised in total approximately US$8.4 million by way of subscription
at approximately a 33% premium to the mid-market price at close on 5 March
2026. A total of 629,991,138 new Ordinary Shares are to be issued under the
VFEX Subscription and the UK Subscription.

Chairman and Interim CEO Peter Wynter Bee, has subscribed for 20,000,000 of
the shares in the UK Subscription also at £0.01 per share.

 

Admission

Application has been made for the shares to be issued pursuant to the UK
Subscription (the "UK Shares") to be admitted to trading on the Main Market of
the London Stock Exchange plc (the "LSE") ("Admission").

Application has been made for the VFEX Shares to be first admitted to trading
on the Main Market of the LSE and then immediately transferred to Zimbabwe
through a branch register control account, in order for the VFEX Shares to be
listed and directly traded on the Victoria Falls Stock Exchange in Zimbabwe
("VFEX Admission").

It is expected that Admission and the VFEX Admission will become effective and
that dealings in the UK Shares and the VFEX Shares will commence at 8.00 am on
or around 16 March 2026.

 

Use of funds

Proceeds from the VFEX Subscription and the UK Subscription, in addition to
the existing cash resources of the Company and committed funds, amount to
approximately US$ 13.5 million, which are intended to be used for the further
expansion of the Hillside gold production, the acquisition of Nara and any
associated litigation expenses in order to inter alia complete such
acquisition, further exploration and general working capital in Zimbabwe.

 

Further information can be found in the Company presentation available on the
Company's website.
https://www.kavangoresources.com/investors/company-presentation/
(https://www.kavangoresources.com/investors/company-presentation/)

For further information, please contact:

 Kavango Resources plc        Shard Capital Partners LLP  BlytheRay                                               Inter-Horizon Group

Chairman & Interim CEO
                           (Financial PR)                                          (Sponsoring  Broker - Zimbabwe)

                            (Corporate Broker)          Tim Blythe/Megan Ray/Said Izagaren
Lloyd Mlotshwa
 Peter Wynter Bee             Damon Heath                 kavango@blytheray.com (mailto:kavango@blytheray.com)

+44 7973 818125
+44 204 530 6926
+44 207 138 3204                                       lmlotshwa@ih-group.com (mailto:lmlotshwa@ih-group.com)

 

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