Katoro Gold has recruited former Power Metal and Metal Tiger executive Paul Johnson to assist in what the company describes as a revitalization of its business model, operations, strategic direction, and improved investor communications.
In conjunction with Johnson’s appointment, Katoro Gold is generating £750,000 in capital by issuing shares at 0.1p each and will rebrand itself as Katoro Global Resources.
HIGHLIGHTS:
- Financing by way of a Broker-led placing and subscription (the “Financing”) with new and existing Shareholders to support business development raising £750,000 through the issue of 750 million shares at 0.1p (the “Financing Shares”).
- Board changes, details to be announced, to consider ways to maximise value from existing interests and to secure new cost-effective opportunities globally, with a focus on critical metals including uranium.
- Appointment of strategic consultant, Paul Johnson, former CEO of Power Metal Resources plc and Metal Tiger plc, to assist the Board with a reinvigoration of the business model, business operations, strategic direction and enhanced communications with investors.
- Plan to change the name of the Company to Katoro Global Resources plc (stock code KAT to remain unchanged).
Louis Coetzee, Chairman of Katoro Gold, stated: “We have been actively seeking a way to rejuvenate the company for some time. I am confident that the initiatives announced today, including the revamped board, advisory support, and new strategy, have the potential to significantly benefit our shareholders.
“After this round of funding, the company’s market capitalization will be at the lower end of the spectrum for UK-listed junior resource firms. We see this as a modest starting point from which we can develop a dynamic and effective business strategy, aiming to create substantial value for our shareholders, which is of utmost importance.”
