REG - RiverFort Global Opp - Update on Kodal Option

Riverfort Global OpportunitiesAnnouncement

22/03/2021 10:00

RNS Number : 0254T
  
RiverFort Global Opportunities PLC
  
22 March 2021
  
 

 
22 March 2021
RiverFort Global Opportunities plc
("RGO" or the "Company")
Option to acquire 20% interest in gold assets with 350,000oz of mineral resources
On 17 December 2020, the Company announced that it has entered into a conditional term sheet with Kodal Minerals plc ("Kodal") to potentially acquire a 20% interest in Kodal's portfolio of gold assets in West Africa which range from early exploration to assets with mineral resources, as part of an overall funding package of US$2.5 million to finance the development of these assets.  
As part of this investment, RGO initially advanced US$150,000 to Kodal prior to the completion of its due diligence and the execution of binding contracts and security arrangements in connection with the proposed investment.  
Since then, the Company had been actively progressing due diligence and the structuring of the investment.  However, on 19 March 2021, Kodal announced a placing to raise £3.5 million and therefore RGO will not be pursuing this investment any further.  The amount already advanced by RGO of US$150,000 will be repaid by Kodal on 31 October 2021.  
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. 
For more information please contact: 



RiverFort Global Opportunities plc






+44 20 3368 8978




Philip Haydn-Slater, Non-executive Chairman












Nicholas Lee, Investment Director


























Nominated Adviser






+44 20 7628 3396 




Beaumont Cornish 












Roland Cornish/Felicity Geidt 


























Joint Broker






+44 20 7186 9950 




Shard Capital Partners LLP












Damon Heath/ Erik Woolgar


























Joint Broker






+44 20 7562 3351 




Peterhouse Capital Limited












Lucy Williams











 
 

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