Vela Technologies (GB:VELA) has released an update.
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Vela Technologies plc, an investing company specializing in early-stage and pre-IPO disruptive tech, has announced a strategic investment in the gold exploration firm Hamak Gold Limited through a convertible loan note agreement. The deal involves Vela issuing new shares and potentially converting loan notes into Hamak shares at a discounted rate, with the first payment due by the end of July 2024. This investment, although not aligning with Vela’s core focus on disruptive technology, represents an opportunistic move intended to enhance shareholder value.
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