Transformative Q18 Jan 2021 05:38
Every two Placing Shares have one warrant attached, resulting in the issue of 388,888,888 warrants, with each warrant having the right to acquire one new Ordinary Share at an exercise price of 0.9 pence for a period of two years from the date of the admission of the Placing Shares (the "Warrants"). If the Warrants are exercised in full, this would result in the issue of 388,888,888 new Ordinary Shares raising a further £3,500,000 for the development of the Company's business, and which would represent approximately 26.8% of the Company's issued share capital as enlarged by the Placing.
7mil Mcap
The posp restart was massive news for Tomco.
The large even block sells tells us we still have placing overhand keeping slight breaks on the SP.
Before the the end of the month, Greenfield will ramp up to 24/7 for the 600bopd example - the final feed study complete in February - and then the company's involved will move to phase 2 to source 160m funding for the 2 5000bopp plants.
Warrants at 0.9 (13mil mcap) realising a further 3.5mil, were now in the strongest position in the the last 52ws and the company's history, and it's exciting to think we're he mcap could be in march April - when funding is secured a 30mil Mcap here will look very small