11th May 2021 17:30
Woodbois Ltd - African focused sustainable forestry and timber trading - Plans to raise GBP5 million through placing, subscription and PrimaryBid offer of shares at a price of 6.0 pence per share.
Proceeds will go towards Woodbois establishing a presence in the carbon sequestration market through the acquisitions and reforestation of degraded land in Gabon, the expansion of its forestry concessions through the acquisition of 56,000 hectares close to its existing forests in Mimongo, and enhance its production capacity through the installation of required infrastructure.
Canaccord Genuity is acting as nomad, broker and bookrunner.
Current stock price: 6.92 pence, down 7.8%
Year-to-date change: up sharply from 3.20p
By Dayo Laniyan; [email protected]
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