Focus Xplore plc has raised an aggregate £317,500 via placing new ordinary shares to progress activities in Ontario, Canada.
TVRs
The fundraise started in February under the company’s previous name of Katoro Gold with a placing of 635 million new ordinary shares, at a placing price of 0.05p per placing share to raising £307,500.
The company will issue 20m ordinary shares in respect of a placing for £10,000 and 20m ordinary shares in part payment of consulting fees all at the same price to Planetary AI Ltd.
Planetary AI will use its proprietary technology help Focus evaluate further opportunities in the province.
Each placing and fee share has one warrant attached with the right to subscribe for one new share at an exercise price of 0.07p per share for a period of three years from 28 February 2025.
Following admission, the company will have 2,269,420,573 ordinary shares in issue, each with one voting right.