Africa Mining: Botswana Diamonds seeks £370 000 for exploration activities

Botswana Diamonds has undertaken a share placing with existing and new investors to raise £370 000 through the issue of just over 67.2-million new ordinary shares at a placing price of 0.55p a placing share.

The proceeds will be used to fund exploration activities during the current year in Botswana and South Africa, and to provide additional working capital for the company.

Each placing share, according to a release on Wednesday, has one warrant attached with the right to subscribe for one new ordinary share at 0.6p a new ordinary share for a period of two years from January 23, 2019. source: miningweekly