African Pioneer PLC (GB:AFP) has released an update.
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African Pioneer PLC, a resource development firm operating in Namibia, Botswana, and Zambia, has exercised a £250,000 drawdown from its £1 million funding facility with Sanderson Capital Partners Ltd. The funds, due in 12 months and convertible at 2.8 pence per share, are earmarked for advancing the company’s projects and general working capital needs. Additionally, the agreement includes a £5,000 fee payable in shares and £125,000 of three-year warrants exercisable at 4 pence per share.
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