BWA Group Plc Proposed Offer for Subscription and Directors' Participation

 
TIDMBWAP 
 
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 
OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310. 
 
3 November 2023 
 
BWA Group PLC 
 
("BWA", the "Group", or the "Company") (AQSE: BWAP) 
 
Proposed Offer for Subscription and Directors' Participation 
 
BWA Group Plc [AQSE: BWAP], which holds mineral exploration licences in both 
Cameroon and Canada and is quoted on London's AQSE Growth Market, announces it 
is proposing to raise up to £900,000 by way of an issue of up to 180,000,000 new 
Ordinary shares of 0.5p each ("Ordinary Shares") at a price of 0.5p per Ordinary 
Share, accompanied by warrants in the ratio of 1 for 2 ordinary shares 
subscribed, exercisable into Ordinary Shares at a price of 0.6p per share until 
31 October 2024 and 0.75p per share thereafter until 31 October 2026 ("New 
Shares"). 
 
The Company has received firm commitments from its Directors and a major 
shareholder to subscribe for in excess of £450,000, representing over 50% of the 
proposed fundraising.  All the Directors of the Company have committed to 
participate. 
 
The majority of the funds raised are to be used to continue the Group's 
exploration programme on its two claim areas in Cameroon at Nkoteng and Dehane 
for Heavy Mineral Sands to complete the planned auger drilling program and a 
Mineral Resource Estimate and Preliminary Economic Assessment, in accordance 
with JORC (2012) by Q2 2024. 
 
An updated corporate presentation, together with the recently produced Competent 
Persons Report (December 
2021 (http://www.bwagroupplc.com/documents/BWA%20Nkoteng%20%20Dehane%20CPR%20Fina 
l_20211210.pdf)), in which a detailed summary of exploration works and 
geological settings can be found, are both available on the Company's website. 
A copy of the presentation can also be viewed through the following link: 
 
Investor Presentation Q4 
2023 (https://mb.cision.com/Public/22539/3868668/ba608fc848f22160.pdf) 
 
The Company announced (27 April 
2023 (http://www.bwagroupplc.com/Announcements/27042023%20Positive%20Results%20fr 
om%20Preliminary%20Granulometric%20Testwork.pdf) and 19 July 
2023 (https://www.aquis.eu/stock-exchange/announcements/4185287)) further 
encouraging results from preliminary granulometric test-work and orientation 
heavy mineral separation test work showing promising evidence of Valuable Heavy 
Minerals (VHM) ilmenite, rutile, kyanite and zircon in the Dehane and Nkoteng 
licence areas and encouraging observations from reconnaissance site visits to 
newly granted Dehane 2, Dehane 3 and Nkoteng 2 licence areas (6th April 2023). 
These announcements have been supplemented by the announcement of 16 October 
2023 reporting encouraging evidence of heavy mineral sands in the Dehane and 
Nkoteng licence areas. 
 
The Ordinary Share issue will be made on a non-pre-emptive basis under the terms 
of the Board's authority confirmed at the last AGM.  Any shareholder, however, 
who may wish to subscribe for Ordinary Shares in the issue may express an 
interest to the Company by emailing 
[e-mail] (http://about:blank). 
 
For further information on the Company, please visit: 
 
http://www.bwagroupplc.com/index.html (http://about:blank) 
 
or contact: 
 
BWA Group PLC              [phone] 
 
James Butterfield          [e-mail] 
 
Chairman 
Jonathan Wearing 
 
Director 
Allenby Capital Limited    [phone] 
 
Corporate Adviser 
 
Nick Harris/Lauren Wright 
 
 
 
Links to the documents on the Company's website 
 
Company Announcement of 16 October 2023 - 
http://www.bwagroupplc.com/Announcements/16102023%20BWA-Cameroon-DehaneNkoteng 
-Licences-ReconnaissanceRNS13-10-2023.pdf 
 
Competent Person's Report - 
http://www.bwagroupplc.com/documents/BWA%20Nkoteng%20%20Dehane%20CPR%20Final_2021 
1210.pdf 
 
Announcement of 1 February 2022 - 
http://bwagroupplc.com/Announcements/01022022%20Positive%20Mineral%20Results%20fo 
r%20Nkoteng%20&%20Dehane%20Projects.pdf (http://about:blank) 
 
 
This information was brought to you by Cision http://news.cision.com 
The following files are available for download: 
https://mb.cision.com/Public/22539/3868668/ba608fc848f22160.pdf BWA-Presentation-FundRaise-October2023 V6 
 
 
END 
 
 

(END) Dow Jones Newswires

November 03, 2023 03:00 ET (07:00 GMT)