Cora Gold Ltd has closed its recent fundraise at £15,707,141.34 through the issue of 261,785,689 new ordinary shares, each at a price of six pence.
BOARD
The fundraise included a subscription of £13,707,141.36 by Eagle Eye Asset Holdings Pte. Ltd for 228,452,356 new ordinary shares, equal to 29.9% of Cora.
A retail offer raised an additional £1,999,999.98 for 33,333,333 new ordinary shares.
On admission, the company’s issued share capital will comprise 764,054,700 ordinary shares.
Net proceeds will advance Cora’s Sanankoro gold project in southern Mali towards production, and fund continued exploration and general working capital.
Following the fundraise the company also announced changes to its board.
Eagle Eye’s representative Aryann Gupta becomes a non-executive director and a member of the audit committee.
NED Adam Davidson becomes chair of the board, replacing Edward Bowie who remains a NED.