Draganfly Investments Ltd Fundraising (3193H)
12 März 2018 - 8:00AM
UK Regulatory
TIDMDRG
RNS Number : 3193H
Draganfly Investments Ltd
12 March 2018
Draganfly Investments Limited
("Draganfly" or the "Company")
Fundraising
12 March 2018
The Company announces that it has successfully raised GBP137,160
before expenses, by way of a placing ("Placing") of 50,800,000 new
ordinary shares of no par value in the Company at a price of 0.27
pence per share.
Application for admission to trading on AIM is being made and it
is expected that admission of the Placing shares will occur on 15
March 2018.
As stated in the interim results announcement dated 13 December
2017 the Board has been actively assessing a number of possible
mineral investment opportunities and remains confident that the
Company will complete a transaction that satisfies the AIM
requirements set out in the Company's announcement dated 21 March
2017. It is, however, now unlikely that the Company will have done
so by the deadline of 21 March 2018, in which case the shares would
be suspended until the publication of an admission document setting
out the details of such a transaction.
The net proceeds of the Placing will be applied for general
purposes and towards the costs of any such transaction.
The Company currently has 169,356,437 Ordinary Shares in issue.
Following Admission, the Company's issued share capital will
consist of 220,156,437 Ordinary Shares with voting rights. There
are no Ordinary Shares held in treasury therefore this number may
be used by shareholders in the Company as the denominator for the
calculations by which they will determine if they are required to
notify their interest in, or a change in their interest in, the
share capital of the Company under the FCA's Disclosure and
Transparency Rules.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014 of the European Parliament
and of the Council.
For further information please contact:
Luke Bryan +44 (0) 7786 929 966
Dennis Edmonds +44 (0) 7796 338 372
Nick Josh
Cornhill Capital Limited (Broker) +44 (0) 20 3700 2500
Tom Price/Jamie Spotswood
Northland Capital Partners (Nominated Adviser) +44 (0) 20 3861
6625
This information is provided by RNS
The company news service from the London Stock Exchange
END
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