Nativo Resources plc has conditionally raised £400,000 via a placing and subscription of a total 88,888,889 new ordinary shares of 0.15 pence each, at 0.45 pence per share.
TVRs
Each participating investor will receive one warrant for every subscription share, which is exercisable at 0.45 pence for 12 months from admission.
Proceeds will contribute to Nativo’s workig capital and advance mine planning at the Tesoro gold concession in Peru.
The fundraising is subject to shareholders’ approval for the company to issue sufficient shares on a non-pre-emptive basis.
Following admission, Nativo’s total number of ordinary shares in issue will be 450,819,617, with voting rights.
The company projects covers gold exploration and development, an ore processing plant, a polymetallic licence, and a gold and silver tailings recovery, all in Peru.
Nativo also has a 5% interest in an oil and gas production asset in southern Argentina.