EQS-News: Subscription Update and Issue of Equity
UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
- UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
- As per the terms of the subscription agreement, the Company has raised 500,000 net through the issue of 41,666,667 new ordinary shares ("Subscription Shares") to Tennessee Black Gold at a subscription price of 1.2 pence per share, which will represent 14.0% per cent of the Company's enlarged issued share capital on Admission (defined below).
- The Company is continuing the recruitment process for a new CEO and will update the market in due course.
- It is expected that Admission of the Subscription Shares will become effective and that dealings will commence at 08.00 am on or around 4 November 2022.