β¬9.1M for 29.34%, Mcap Β£10M, and hmm!1 Sep 2021 21:05
The previously disclosed investor remains interested in providing a package of β¬9,130,000, which will fund the development of the Tantalite Valley mine ("TVM") and the building of the Orange River pipeline.
o A new opportunity with a second Namibian investor who, following completion of due diligence by both parties, has signed agreed initial terms to subscribe $11 million for 290,576,383 shares in the Company.
o Either transaction would give a price of approximately 2.7 pence per share and give the investor 29.34% per cent. of the outstanding equity in the Company at the time of issuance.