16th Jun 2021 18:51
Kropz PLC - South Africa-focused plant nutrient feed minerals developer - Makes quarterly draw down requests under two equity facilities with major shareholder ARC Fund.
Fifth draw down under the original equity facility is for USD11 million, to be settled by issue of 140.1 million shares at a price of 6.75 pence to ARC Fund on Wednesday next week.
Second draw down request of USD2 million under the new equity facility, which will be settled by the issue of 34.7 million shares at 4.20p each to ARC.
The next draw downs are expected to be made on or about September 10 and quarterly hereafter.
Proceeds will go towards the continuing workstreams on the Elandsfontein and Hinda projects.
Current stock price: 5.80 pence, down 36%
Year-to-date change: up 36%
By Dayo Laniyan; [email protected]
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