Business
Non-Receipt of GMI Underwritten Placing Proceeds
TechFinancials Inc. has not yet received the £250,000 in proceeds from a placing announced on 18 September 2025, which was underwritten by GMI. The company is in discussions with GMI regarding logistical issues in transferring the funds from GMI's Kenyan bank account, with the available balance confirmed. Alternative transfer arrangements are being sought to facilitate the payment. Disclaimer*
About this update from Ubuntu Mining And Metals, Inc.
[{"type":"text","content":"\n\n \nTechFinancials, Inc.\n(\"TechFinancials\" or the \"Company\")\n5 December 2025\nNon-Receipt of GMI Underwritten Placing Proceeds\n \nTechFinancials, Inc. (AQSE: TECH), announces that, further to the announcement of 17 November 2025, the Company has still not received the £250,000 proceeds from the placing announced on 18 September 2025 (the \"Placing\").\nThe Placing was underwritten by Gathoni Muchai Investments Limited (\"GMI\"), a Kenyan-based investment banking and corporate finance group. Mining executive, Jason Brewer, is a major shareholder and a director of GMI and is responsible for its investments in the mining sector in Africa.\nThe Company confirms that it is in discussions with GMI, about transferring the funds, for which the available balance of £250,000 has been confirmed. There appears to be logistical issues of transferring from GMI's Kenyan bank account to the Company's bank account and the parties are seeking alternative transfer arrangements for the payment to be made.\nFurther announcements will be made as and when further information on the Placing proceeds becomes available.\nThe directors of the Company accept responsibility for the contents of this announcement.\n For further information:\n\n\n\n\nTechFinancials, Inc.\n\n\nTel: +972 54 5233 943\n\n\n\n\nAsaf Lahav, Executive Director\n\n\n\n\n\n\n\nEitan Yanuv, Non-Executive Chairman\n\n\n\n\n\n\n\nAlbR Capital Limited (Aquis Corporate Adviser)\n\n\nTel: +44 (0) 20 7469 0930\n\n\n\n\nThis announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (\"MAR\").\n \n\n","length":3673,"tagName":"div"}]