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FUNDRAISING OF £290,000 & OPERATIONAL AND COR...
Karelian Diamond Resources PLC has announced a £290,000 fundraising through unsecured convertible loan notes issued to new and existing investors at a conversion price of 1.5 pence per share, a 300% premium to the previous day's closing price. These funds will support initial drilling at Anomaly 5 in Finland, exploration for Nickel-Copper-Platinum Group Elements in Northern Ireland, and general working capital. The company is also addressing deferred payables to board members and continuing discussions to extend its existing £112,500 convertible loan with Conroy Gold and Natural Resources plc. Disclaimer*
About this update from Karelian Diamond Resources Plc
PRIOR TO PUBLICATION, THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT WAS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310. WITH THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN. IN ADDITION, MARKET SOUNDINGS WERE TAKEN IN RESPECT OF CERTAIN OF THE MATTERS CONTAINED WITHIN THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN PERSONS BECAME AWARE OF INSIDE INFORMATION. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THOSE PERSONS THAT RECEIVED INSIDE INFORMATION IN A MARKET SOUNDING ARE NO LONGER IN POSSESSION OF SUCH INSIDE INFORMATION, WHICH IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN. Karelian Diamond Resources plc ("Karelian" or the "Company") 20 March 2026 FUNDRAISING OF £290,000 OPERATIONAL AND CORPORATE UPDATE Karelian Diamond Resources PLC (AIM: KDR), the diamond and natural resources exploration company focused on Finland and Ireland , is pleased to announce a fundraising of £290,000. The fundraise has been undertaken via an issue of unsecured convertible loan notes ("CLNs" or "Loan Notes") to a combination of new investors and existing shareholders in the Company (the "Fundraise"). Highlights £290,000 raised from new and existing investors. Unsecured and unlisted CLNs issued. Conversion price of 1.5 pence per share, a 300% premium to the closing mid-market price of 0.375 pence for the Company's ordinary shares of €0.00025 ("Ordinary Shares") on 19 March 2026 (last practicable date prior to this announcement). The proceeds from the Fundraise will support: ongoing initial drilling at Anomaly 5 in Finland within the current weather window; the progress of exploration on the Company's licences in Northern Ireland in which it has already identified significant potential for Nickel-Copper-Platinum Group Elements (PGE); and the continued interaction with potential strategic and financial partners for its projects in addition to providing working capital for the Company. Key Terms of CLNs AMOUNT £290,000 TERM 3 years SECURITY Unsecured INTEREST RATE 8% per annum CONVERSION PRICE 1.5p per share CONVERSION TERMS In the event conversion occurs in year 1, a full year's interest of 8% applies. Thereafter the interest amoun...
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