Nativo Resources plc has issued 120 million new ordinary shares of nominal value £0.0015 to Axis Capital Markets Ltd under an at-the-market facility.
FUNDS
The company said that the ATM, of up to £5 million on a gross proceeds basis, replaces the previous at the market facility.
The facility provides a “flexible mechanism to seek to issue new shares and raise capital at prevailing market prices to repay the amortisation of the convertible loan note” from November 2025.
The ATM will also provide funds to develop Nativo’s gold mining and processing assets in Peru.
Axis will deduct a broker fee and costs from the gross proceeds of the sale of the ATM shares.
Following admission, Nativo’s total issued share capital will comprise 803,680,975 ordinary shares, with equal voting rights and none held in treasury.