Botswana Diamonds issued 76,000,000 new ordinary shares of £0.0025 each at 0.5p per placing share to raise £380,000 ($479,774) through a placing and subscription with current and new investors.
Net proceeds from the placing will fund exploration in Botswana and South Africa.
It will also boost the company’s working capital.
Botswana Diamonds said each placing share has a warrant to subscribe for one new ordinary share at 0.5p per share for two years from 27 November 2023.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished