The Directors of Agricola are pleased to announce the issue of 1,000,000 new ordinary shares of 1p each at a price of 1p per share, raising £10,000 for the Company. The shares were acquired by Beowulf Mining Plc. As a result Beowulf Mining Plc is interested in 9,500,000 ordinary shares representing 5.9% of the enlarged issued share capital.
The Company has also received £20,000 from the issue of a convertible loan note to Beowulf Mining Plc at 3% above the Bank of England base rate, convertible into ordinary shares in Agricola at par until 28 February 2013.
The money will be used for gold exploration in Morocco, satellite photographic interpretation and compiling geological information.
Following this issue there will be 160,455,489 ordinary shares in issue. The Directors' shareholdings are 3,030,000 ordinary shares, representing 1.9% of the enlarged issued share capital.
The Directors of Agricola are responsible for the contents of this announcement.
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