Druces’ Capital Markets team has advised long standing client Kavango Resources PLC in connection with a prospectus and £3m fundraising by way of a placing and subscription, which also included the issue of shares to, inter alia, Power Metal Resources PLC and LVR GeoExplorers (Pty) Ltd, in order to complete certain deals announced previously by Kavango.
The placing and subscription are to raise funds to meet exploration costs across the company’s portfolio of projects in Botswana and general working capital.
Jack Dervyn led Druces’ Capital Markets team on this transaction, which included Mark Lamph, Kajal Sachania and Cheryl Michalik.
“The Kavango board delivered a great result in challenging market conditions, and the fundraising will no doubt assist the company with its exploration plans. The future looks bright for Kavango and its shareholders.”
Ben Turney, Chief Executive Officer of Kavango, observed:
Druces’ close support in helping Kavango complete these landmark transactions has been extremely important. The speed at which Jack and the team handled various complex issues was a decisive factor in enabling the deals to proceed smoothly. We are very grateful for all the assistance Druces provided.
Further details of the fundraising can be found at:
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