Shares in Hamak Gold Limited (LSE:HAMA) climbed 6% after the company announced it had raised £2.47 million through a placing and subscription, bringing in new investors, including a Qatari royal family investment arm.
The London-listed explorer is shifting strategic focus, unveiling plans to adopt a Bitcoin Treasury Management policy alongside its existing gold exploration activities.
The funding round was priced at 0.8p per share, a 27% discount to the previous close, and included 308mn new shares, around 68% of the enlarged capital base.
Investors also received matching two-year warrants. Existing shareholders will receive equivalent warrants.
The board will also see a shake-up with the resignation of two directors and the appointment of Nick Thurlow, formerly CFO of Dubai’s MBS Global Investments, and James Lawrence.
The new leadership is expected to strengthen Hamak’s Middle East ties and guide its dual focus on digital assets and gold. Proceeds will support operations and Bitcoin asset acquisition.
The stock rose 0.07p to 1.17p.