The board of directors of Botswana Minerals PLC announced a fundraising of approximately $1.46 million (compared to £1.15 million), through the issuance of 460 million new ordinary shares with a nominal value of 0.25 pence each.
This operation, carried out in the form of a placement and subscription with existing and new investors, also includes the cash participation of certain directors. The subscription price was set at 0.25 pence (approximately $0.0032) per share.
According to the information memorandum published on March 20, the funds raised will mainly be used to continue the copper exploration program in northwest Botswana, as well as to finance the company’s cash needs. This program aims to turn identified geological anomalies into drilling targets.
Each issued share comes with a warrant allowing the acquisition of an additional share at the same price, valid for one year from March 20, 2026.
The new shares will have the same rights as the existing ordinary shares. An application for admission to trading on the AIM market of the London Stock Exchange has been submitted, with an expected effective date around March 27, 2026.
Botswana Minerals plc is a diamond exploration company specializing in the identification and development of deposits in Africa. It has been listed under the symbol “BMIN” since February 27, 2026, when Botswana Diamonds Plc changed its name to Botswana Minerals plc.
