KEFI Gold and Copper plc (LON: KEFI), the gold and copper exploration and development company with projects in the Federal Democratic Republic of Ethiopia and the Kingdom of Saudi Arabia, has provided an update on its Capital Raise, further to the announcements made yesterday.
The Company is pleased to announce that the Retail Offer via PrimaryBid is successfully completed and has now closed. From the Retail Offer, the Company has raised gross proceeds of £469,160.17 (before expenses) via the issue of 85,301,849 Ordinary Shares at the Placing Price of 0.55 pence per Ordinary Share, with over 90% of the subscribers being registered existing shareholders and with an average order size of approximately £2,500.
In total the Capital Raise is therefore expected to raise gross cash proceeds of approximately £6.0 million through the Firm Placing, the Conditional Placing, Conditional Subscription and the Retail Offer and is expected to settle approximately £4.6 million of outstanding liabilities through the Firm Placing, Conditional Placing and Conditional Remuneration Issue. The completion of the Conditional Placing, the Conditional Subscription and the Conditional Remuneration Issue remains subject to the passing of resolutions at the Company’s General Meeting to be convened on 2 January 2025.
