Botswana Diamonds has issued 47 million ordinary shares of £0.0025 each at the exercise price of 0.60 pence per new share.
It said proceeds the exercise of £282,000 will be used for additional working capital.
An application will be made for the new shares to be admitted to trading on AIM around 14 September 2022.
Following the admission of the new shares, Botswana Diamonds will have 927,738,569 ordinary shares in issue which will also represent the total number of voting rights in the company.
The diamond exploration company was recently awarded a five-year prospecting licence on the ground containing the Reivilo cluster of kimberlites in the Barkley West area of South Africa.
The area is located about 110 kilometres northeast of the actively producing Finsch diamond mine owned by Petra Diamonds.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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