(Alliance News) - Botswana Diamonds PLC on Friday announced it has raised GBP363,000 via the issue of 60.5 million shares at a price of 0.6 pence per share.
The Irish diamond exploration company said this includes the cash subscription by two company directors, with James Finn subscribing for 4.6 million shares to own 4.4% of the enlarged share capital and James Campbell subscribing for 412,545 shares to own 0.2%.
Shares in Botswana Diamonds were down 3.5% at 0.70p in London on Friday.
Botswana Diamonds said each placing share has one warrant attached, giving the right to subscribe for one share at 0.6p each for a period of two years from Friday.
The funds raised will be used to fund exploration activities during the year in Botswana and South Africa, which remain ongoing, and to provide additional working capital, the company said.
By Zoe Wickens; zoewickens@alliancenews.com
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Botswana Diam (BOD)