Business
Financing Update & Issue of Equity
Financing Update & Issue of Equity.
About this update from Nativo Resources Plc
[{"type":"text","content":"\n\nThis announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended (\"MAR\"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.\n \n7 April 2025\nNativo Resources Plc\n \n(\"Nativo\" or the \"Company\")\n \nFinancing Update\n&\nIssue of Equity\n Nativo Resources plc (LON:NTVO), which has interests in gold mines in Peru, provides the following update on operations and business funding.\n \nAs previously announced, during Q1 2025, the Company has successfully advanced its business plan, signing an option agreement via the Company's 50%-owned Peruvian joint venture Boku Resources SAC (\"Boku\"), pursuant to which Boku will evaluate the opportunity to recover and sell gold and silver from the Toma La Mano tailings dump and redeposit the tailings in line with legislation, as announced on 6 March 2025. The Company is now seeking to accelerate Toma La Mano by undertaking a feasibility study and has identified other suitable tailings dumps in northern Peru from historical or ongoing polymetallic mining which contain gold and silver, for which additional capital will be required.\n \nIn line with the Company's previously stated intentions of raising further capital, the Company is pleased to announce that it has entered into a subscription agreement (\"Subscription Agreement\") with its Joint Broker, Peterhouse Capital Ltd (\"Peterhouse\"), dated 4 April 2025, pursuant to which the Company will issue and Peterhouse will subscribe for 12,000,000 ordinary shares of 0.15p in the Company at par value (\"Subscription Shares\") representing 19.37% of the Company's share capital as enlarged by the issue of the Subscription Shares. The Subscription Shares will be issued to Peterhouse to offset fees owed to it by the Company. Pursuant to the Subscription Agreement, Peterhouse has undertaken to use its reasonable endeavours to place the relevant Subscription Shares and to pay Nativo 95% of the gross proceeds of any such sales. Such proceeds are then to be applied to working capital and the implementation of the Company's business strategy, as part of its initia...