Zanaga Iron Ore (GB:ZIOC) has released an update.
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Zanaga Iron Ore Company Ltd has finalized a financing agreement with Shard Merchant Capital Ltd, successfully executing a new equity subscription that will allow the issuance of shares to support future project milestones with minimal shareholder dilution. The shares from both the existing and new equity subscriptions are expected to be admitted to trading on AIM by July 4, 2024, with a total of 668,989,909 Ordinary Shares reflecting the company’s increased capital and voting rights. This strategic move aims to secure capital for ZIOC through cost-effective funding as the company advances.
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