Katoro Gold said Friday it would implement a simpler share option plan to raise funds.
The previous plan to create two separate share option plans; one plan to cover executive directors and employees, and the other to cover non-executive directors and consultants had been approved by shareholders in May 2018. But following advice, the company said it would combined both plans.
Under the new option plan, the company would issue issue 14,944,783 new ordinary share options, representing roughly 10% of the company's currently issued share capital, at a price of 1.3p a share.
The company also said it would 7,958,575 shares to Mzuri Exploration Services to settle a debt of roughly £103,500 for services provided to the company.
At 9:57am: (LON:KAT) Katoro Gold Mining Plc share price was 0p at 0.6p