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
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
or contact:
Louis Coetzee
|
Info@katorogold.com
|
Katoro Gold PLC
|
Executive Chairman
|
James Biddle
Roland Cornish
|
+44 207 628 3396
|
Beaumont Cornish Limited
|
Nominated Adviser
|
Nick Emmerson
Sam Lomanto
|
+44 148 341 3500
|
SI Capital Ltd
|
Broker
|
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.