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IN BRIEF: Kropz Draws USD5 Million Under ARC Fund Equity Facility

Wed, 09th Dec 2020 19:34

Kropz PLC - South Africa-focused plant nutrient feed minerals developer - Makes third draw down request under equity facility with major shareholder ARC Fund. Third drawdown is for USD5 million which will be paid through the issue of 63.7 million shares at a price of 6.75p each to ARC Fund.

Proceeds from drawdown will go towards continuing workstreams at the Elandsfontein phosphate project in South Africa.

Following issue, Kropz will have 558.6 million shares issued overall.

Current stock price: 4.12 pence

Year-to-date change: down 44%

By Dayo Laniyan; dayolaniyan@alliancenews.com

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