The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
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Cora Gold Ltd - West Africa-focused gold explorer - Plans to raise at least $19.6 million through both equity fundraising and convertible loan notes. Places 76.2 million shares at a price of $0.0487 per share for total gross proceeds of $3.7 million. Offers convertible loan notes for a total of $15.9 million. Says that the funds will be used to start development on its flagship Sanankoro gold project in southern Mali. ‘Following the recent completion of technical studies on the Sanankoro gold project I am very pleased that Cora’s shareholders continue to be strongly supportive of the project’s development into an operating mine. The company has already received binding commitments of around $20 million, a significant sum in the context of our development requirements, and we are delighted to be able to provide other investors with the opportunity to participate in the fundraising on the same terms. Discussions are also ongoing with a number of potential lenders to fully fund the project. The company anticipates providing further updates on this in due course,’ Chief Executive Bert Monro comments.
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DeepVerge PLC - Dublin-based environmental and life science group - Says that its subsidiary Glanaco secures a €10 million order from an unnamed, existing customer in central Asia. Says the order is for the design, assembly and supply of multi-function mobile equipment. Adds that the order for 100 units will be managed by Glanaco’s plant in Cork, Ireland where all assembly and testing will be undertaken. ‘I’m pleased to be able to announce this contract, which is a significant contribution to the 2023 order book and revenues,’ Interim CEO Nigel Burton comments.
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Mkango Resources Ltd - Vancouver-based mineral exploration and development company - Gets £452,500 from CoTec under its £2.0 million convertible loan agreement, providing for a two-year, secured convertible loan. Sum is the final instalment.
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BP Marsh & Partners PLC - venture capital investor in financial services businesses - Enters into a loan agreement with XPT Group to provide a further $6 million of funding through a short-term $2 million revolving loan facility and a $4 million term loan. XPT to use these funds to acquire California-based physical inspection company Cal Inspection Bureau Inc.
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Pembroke VCT PLC - venture capital trust that invests in companies in design, education, food, beverage & hospitality, wellness, digital services and media sectors - Plans to pay an interim dividend of 2.5 pence per B share. Reports that its unaudited net asset value per B share at December 31 was 118.8 pence.
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Unicorn AIM VCT PLC - Devon-based venture capital trust - Plans to use its £5 million over-allotment facility to increase its subscription offer to £15 million. Explains that its offer has been oversubscribed. In December, it announced that it intends to launch an offer for a subscription to raise £10 million, with an over-allotment facility to raise a further £5 million.
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