Business
Placing, Issue of Shares, PDMR Shareholdings &TVR
Placing, Issue of Shares, PDMR Shareholdings &TVR.
About this update from Bezant Resources Plc
[{"type":"text","content":"\n\n \n4 December 2023\n \nBezant Resources Plc\n(\"Bezant\" or the \"Company\")\n£800K Fundraise to advance metallurgical and technical work in anticipation of the grant of the mining licence\n \nIssue of equity to Directors and consultants in lieu of fees\n \nTotal Voting Rights\n \nBezant (AIM: BZT), the copper-gold exploration and development company, is pleased to announce a fundraising of £800,000 from directors, existing shareholders, and investors to facilitate both its Namibian Hope & Gorob copper gold mining operation and other projects in the Company portfolio. Bezant has achieved significant progress with the development of the Hope & Gorob Project as it advances towards development of a mining operation upon the grant of a mining licence. \n \nIn addition, as detailed below and pursuant to authority granted at the Company's Annual General Meeting, the Company will be issuing new Ordinary Shares to Director and PDMRs and consultants to settle accrued fees due to them.\n \nFundraising:\n \nThe Company has raised £800,000 before expenses (the \"Fundraising\") at 0.025 pence per Ordinary Share (the \"Fundraising Price\") for the issue of 3,200,000,000 new Ordinary Shares (the \"Fundraising Shares\") conditional upon admission of the Fundraising Shares to trading on AIM (\"Admission\"). The Fundraising comprises a placing of 3,032,000,00 new Ordinary Shares (the \"Placing Shares\") for £758,000 at the Fundraising Price (the \"Placing\"), via Shard Capital Partners LLP and Novum Securities Ltd, and share subscriptions for 168,000,000 new Ordinary Shares at the Fundraising Price to raise £42,000 (the \"Subscription Shares\"). The Fundraising includes £15,000 subscribed for by Colin Bird, Bezant's Executive Chairman for 60,000,000 Subscription Shares and £12,000 by Raju Samtani, Bezant's Finance Director for 48,000,000 Subscription Shares together representing 3.38% per cent. of the total Fundraising amount. \n \nUse of Proceeds: The net proceeds from the Fundraising are planned to be used in relation to the following project activities:\n \ni) on the Hope Copper-Gold project in Namibia whilst we await the issue of a mining licence\na) technical and other studies targeting an 8,000 tonnes p.a. open pit and underground copper / g...