Kavango Resources plc has raised, in aggregate, £247,000 via subscriptions in the UK and in the USA for a total of 24,557,448 new ordinary shares at £0.01 per share.
TVRs
On 10 October the company raised £150,000 via a subscription for 15 million new ordinary shares in the UK.
An additional US$129,035.24 (£97,000) was raised through a subscription for 9,557,448 new ordinary shares at the equivalent of £0.01 per share.
Following admission, Kavango’s total number of ordinary shares in issue will be 3,634,380,762, each with one vote.
The company holds no shares in treasury.
Proceeds will contribute towards general working capital and further exploration and mine development at Kavango’s gold projects in Zimbabwe.