REG - Kefi Gold and Copper - Result of Capital Raise

KEFI Gold and CopperAnnouncement

31/05/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230531:nRSe0925Ba&default-theme=true

RNS Number : 0925B  Kefi Gold and Copper PLC  31 May 2023

THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY, AND DOES NOT CONSTITUTE
OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION
OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY SECURITIES OF KEFI GOLD AND
COPPER PLC.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO ANY PERSON
LOCATED OR RESIDENT IN, ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE,
PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO
THE UNITED STATES, CANADA OR JAPAN.

31 May 2023

KEFI Gold and Copper plc

("KEFI" or the "Company")

Result of Capital Raise

KEFI Gold and Copper (AIM: KEFI), the gold and copper exploration and
development company with projects in the Federal Democratic Republic of
Ethiopia and the Kingdom of Saudi Arabia, is pleased to provide an update on
its Capital Raise, further to the announcements made yesterday.

The Company is pleased to announce that the Retail Offer via PrimaryBid
successfully closed at 9:00 p.m. on 30 May 2023. From the Retail Offer, the
Company has received orders for 34,820,080 Retail Shares that would raise
gross proceeds of approximately £243,741 at the Placing Price of 0.7 pence
per Ordinary Share.

In total the Capital Raise is therefore expected to raise gross proceeds of
£6.44 million through the £5.50 million Firm Placing, the £0.70 million
Conditional Subscription and the £0.24 million Retail offer.  The completion
of the Conditional Subscription and the Retail Offer remain subject, inter
alia, to the passing of resolutions at the Company's Annual General Meeting to
be convened on 30 June 2023.

Shareholders are reminded that because the Conditional Subscription and the
Retail Offer are conditional, among other things, on the passing of the share
allotment and disapplication of pre-exemption rights resolutions to be
proposed at the AGM, should the resolutions not be passed, the Conditional
Subscription and the Retail Offer will not proceed.  Further announcements
will be made in due course as appropriate.

Capitalised terms used in this announcement shall, unless defined in this
announcement or unless the context provides otherwise, bear the same meaning
ascribed to such terms in the announcement made by the Company at 5.32 p.m. on
30 May 2023.

Market Abuse Regulation (MAR) Disclosure

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.

Enquiries

 KEFI Gold and Copper plc
 Harry Anagnostaras-Adams (Executive Chairman)                         +357 994 57843
 John Leach (Finance Director)                                         +357 992 08130

 SP Angel Corporate Finance LLP (Nominated Adviser and Joint Broker)   +44 (0) 20 3470 0470
 Jeff Keating, Adam Cowl

 Tavira Financial Limited (Joint Broker)                               +44 (0) 20 7100 5100
 Oliver Stansfield, Jonathan Evans

 IFC Advisory Ltd (Financial PR and IR)                                +44 (0) 20 3934 6630
 Tim Metcalfe, Florence Chandler

Further information can be viewed at www.kefi-goldandcopper.com
(http://www.kefi-goldandcopper.com)

IMPORTANT NOTICES

THIS ANNOUNCEMENT, INCLUDING THE APPENDICES AND THE INFORMATION CONTAINED IN
THEM, IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE, FORWARDING OR
DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE
UNITED STATES OF AMERICA (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE
OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA (COLLECTIVELY THE "UNITED
STATES")), AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY OTHER
JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE
UNLAWFUL.

No public offering of the securities referred to herein is being made in any
such jurisdiction or elsewhere.

The Firm Placing Shares and the Conditional Subscription Shares (together, the
"Firm Placing and Subscription Shares") have not been, and will not be,
registered under the US Securities Act of 1933, as amended (the "US Securities
Act"), or with any securities regulatory authority or under any securities
laws of any state or other jurisdiction of the United States and may not be
offered, sold, resold, pledged, transferred or delivered, directly or
indirectly, in or into the United States except pursuant to an applicable
exemption from, or in a transaction not subject to, the registration
requirements of the US Securities Act and in compliance with the securities
laws of any state or other jurisdiction of the United States. No public
offering of securities is being made in the United States. The Firm Placing
and Subscription Shares have not been approved, disapproved or recommended by
the U.S. Securities and Exchange Commission, any state securities commission
in the United States or any other U.S. regulatory authority, nor have any of
the foregoing authorities passed upon or endorsed the merits of the offering
of the Firm Placing and Subscription Shares. Subject to certain exceptions,
the securities referred to herein may not be offered or sold in the United
States, Australia, Canada, Japan, New Zealand, the Republic of South Africa or
to, or for the account or benefit of, any national, resident or citizen of
the United States, Australia, Canada, Japan, New Zealand, the Republic of
South Africa.

No public offering of the Firm Placing and Subscription Shares is being made
in the United States, United Kingdom or elsewhere. All offers of the Firm
Placing and Subscription Shares will be made pursuant to an exemption from the
requirement to produce a prospectus under the Prospectus Regulation (EU)
2017/1129 (as supplemented by Commission Delegated Regulation (EU) 2019/980
and Commission Delegated Regulation (EU) 2019/979) as it forms part of UK
domestic law by virtue of the European Union (Withdrawal) Act 2018 (the "UK
Prospectus Regulation").

No action has been taken by the Company,  the Broker or any of their
respective affiliates, or any of its or their respective directors, officers,
partners, employees, advisers or agents (collectively, "Representatives") that
would, or is intended to, permit an offer of the Firm Placing and Subscription
Shares or possession or distribution of this Announcement or any other
publicity material relating to such Firm Placing and Subscription Shares in
any jurisdiction where action for that purpose is required. Persons receiving
this Announcement are required to inform themselves about and to observe any
restrictions contained in this Announcement. The distribution of this
Announcement, and the Placing and/or the offer or sale of the Firm Placing and
Subscription Shares, may be restricted by law in certain jurisdictions.
Persons (including, without limitation, nominees and trustees) who have a
contractual or other legal obligation to forward a copy of this Announcement
should seek appropriate advice before taking any action. Persons distributing
any part of this Announcement must satisfy themselves that it is lawful to do
so.

Members of the public are not eligible to take part in the Firm Placing and
the Conditional Subscription. This Announcement is for information purposes
only and is directed only at: (a) persons in Member States of the European
Economic Area ("EEA") who are qualified investors within the meaning of
article 2(e) of the Prospectus Regulation (EU) 2017/1129; (b) in the United
Kingdom, qualified investors within the meaning of Article 2(e) of the UK
Prospectus Regulation who are persons who (i) have professional experience in
matters relating to investments falling within the definition of "investment
professionals" in article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005, as amended (the "Order"); or (ii) are
persons falling within article 49(2)(a) to (d) ("high net worth companies,
unincorporated associations, etc") of the Order; and (c) otherwise, persons to
whom it may otherwise lawfully be communicated, (all such persons in (a), (b)
and (c) together being referred to as "Relevant Persons"). This Announcement
must not be acted on or relied on by persons who are not Relevant Persons.
Persons distributing this Announcement must satisfy themselves that it is
lawful to do so.

This Announcement may contain, and the Company may make, verbal statements
containing "forward-looking statements" with respect to certain of the
Company's plans and its current goals and expectations relating to its future
financial condition, performance, strategic initiatives, objectives and
results. Forward-looking statements sometimes use words such as "aim",
"anticipate", "target", "expect", "estimate", "intend", "plan", "goal",
"believe", "seek", "may", "could", "outlook" or other words of similar
meaning. By their nature, all forward-looking statements involve risk and
uncertainty because they relate to future events and circumstances which are
beyond the control of the Company. As a result, the actual future financial
condition, performance and results of the Company may differ materially from
the plans, goals and expectations set forth in any forward-looking statements.
Any forward-looking statements made in this Announcement by or on behalf of
the Company speak only as of the date they are made. These forward-looking
statements reflect the Company's judgment at the date of this Announcement and
are not intended to give any assurance as to future results and cautions that
its actual results of operations and financial condition, and the development
of the industry in which it operates, may differ materially from those made in
or suggested by the forward looking statements contained in this Announcement
and/or information incorporated by reference into this Announcement. The
information contained in this Announcement is subject to change without notice
and except as required by applicable law or regulation, the Company expressly
disclaims any obligation or undertaking to publish any updates, supplements or
revisions to any forward-looking statements contained in this Announcement to
reflect any changes in the Company's expectations with regard thereto, or any
changes in events, conditions or circumstances on which any such statements
are based, except where required to do so under applicable law.

The Firm Placing and Subscription Shares and the Retail Shares to be issued or
sold pursuant to the Placing will not be admitted to trading on any stock
exchange other than AIM.

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  ROISDSEFSEDSEEI