12th May 2021 11:39
Woodbois Ltd - London-based hardwood products producer - Raises GBP6 million via placing, subscription and retail offer via Primary Bid, issuing 100.0 million shares at 6p each. The new shares represent 5.7% of the existing issued share capital of the company. Canaccord Genuity is acting as nominated adviser, sole broker and bookrunner of the placing.
"The raise will provide seed capital for our fledgling reforestation and carbon sequestration unit," says Chair & Chief Executive Paul Dolan. "These funds will also enable us to double our Gabon veneer production during the second quarter of 2021 and again during 2022, to broaden our forest concession footprint there as well as allowing us to generate value from our waste product through the production of blockboard."
Current stock price: 6.01 pence, down 14% on Wednesday
Year-to-date change: up 88%
By Evelina Grecenko; [email protected]
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