RiverFort Global Opportunities PLC Update on Kodal Option (0254T)
March 22 2021 - 4:56AM
UK Regulatory
TIDMRGO
RNS Number : 0254T
RiverFort Global Opportunities PLC
22 March 2021
22 March 2021
RiverFort Global Opportunities plc
("RGO" or the "Company")
Option to acquire 20% interest in gold assets with 350,000oz of
mineral resources
On 17 December 2020, the Company announced that it has entered
into a conditional term sheet with Kodal Minerals plc ("Kodal") to
potentially acquire a 20% interest in Kodal's portfolio of gold
assets in West Africa which range from early exploration to assets
with mineral resources, as part of an overall funding package of
US$2.5 million to finance the development of these assets.
As part of this investment, RGO initially advanced US$150,000 to
Kodal prior to the completion of its due diligence and the
execution of binding contracts and security arrangements in
connection with the proposed investment.
Since then, the Company had been actively progressing due
diligence and the structuring of the investment. However, on 19
March 2021, Kodal announced a placing to raise GBP3.5 million and
therefore RGO will not be pursuing this investment any further. The
amount already advanced by RGO of US$150,000 will be repaid by
Kodal on 31 October 2021.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
For more information please contact:
RiverFort Global Opportunities
plc +44 20 3368 8978
Philip Haydn-Slater,
Non-executive Chairman
-----------------
Nicholas Lee, Investment
Director
-----------------
Nominated Adviser +44 20 7628 3396
-----------------
Beaumont Cornish
-----------------
Roland Cornish/Felicity
Geidt
-----------------
Joint Broker +44 20 7186 9950
-----------------
Shard Capital Partners
LLP
-----------------
Damon Heath/ Erik Woolgar
-----------------
Joint Broker +44 20 7562 3351
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Peterhouse Capital Limited
-----------------
Lucy Williams
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