Kodal Minerals PLC (LON:KOD) has been informed that all the shares issued under the equity sharing agreement with Riverfort Global and YA II have now been sold. As a result Kodal has received total cash proceeds of £654,000.
An additional £100,000 has also come in from the exercise of warrants. There are no further payments to be made or received or shares to be issued pursuant to the equity sharing agreement.
The success of the agreement is in part due to Kodal’s strong recent share price. The company has said it believes the share price strength is due principally to the announcement of its recently announced memorandum of understanding with Sinohydro in respect of the Bougouni lithium project in Mali.