Onzima Ventures PLC Investment

 
TIDMONZ 
 
Onzima Ventures PLC 
 
                          ("Onzima" or the "Company") 
 
                       Investment in Kolar Gold Limited 
 
Onzima is pleased to announce that it has participated in the conditional 
fundraising by Kolar Gold Limited (LON: KGLD) ("Kolar Gold"). 
 
Highlights: 
 
  * Transaction subject to Kolar Gold shareholder approval at Extraordinary 
    General Meeting to be held on 27 July 2016; 
  * Onzima to invest GBP30,000 in cash to acquire 2,727,273 new ordinary shares 
    in Kolar Gold at a price of 1.1p per new ordinary share (equivalent to 
    approximately 1.4% of the enlarged issued share capital of Kolar Gold); 
  * Onzima to also receive 2,727,273 warrants to acquire new ordinary shares in 
    Kolar Gold at an exercise price of 2.2p per new ordinary share with 30 
    month life; 
  * Board restructuring proposed at Kolar Gold - Cameron Parry, currently CEO 
    of Metal Tiger plc to take up the position of CEO of Kolar Gold, subject to 
    the passing of the resolutions at the Kolar Gold GM to be held on 27 July 
    2016. Luke Cairns, non-executive Director of Onzima ventures plc, to join 
    as the other Executive Director of Kolar Gold. Harvinder Hungin to remain 
    Non-Executive Chairman, Steven Oke to remain Non-Executive Director and 
    Vaidyanathan Sivakumar to step down as Non-executive director; and 
  * New board of Kolar Gold plan an immediate operational review covering 
    existing exploration interests and various acquisition opportunities. 
 
Gavin Burnell, Chief Executive Officer of Onzima commented "We are pleased to 
support the fundraising, board and strategy changes at Kolar Gold which 
provides Onzima with good upside exposure for its investment". 
 
For further information please contact: 
 
Onzima Ventures PLC                                                   Tel:  +44 
(0) 1732 366 561 
Gavin Burnell, Luke Cairns 
 
Nominated Adviser 
Cairn Financial Advisers LLP                                         Tel:  +44 
(0) 20 7148 7900 
Sandy Jamieson, Liam Murray 
 
Broker 
Peterhouse Corporate Finance Limited                            Tel:  +44 (0) 
20 7469 0930 
Guy Miller, Lucy Williams 
 
Note: This announcement contains inside information which is disclosed in 
accordance with the Market Abuse Regulation. 
 
 
 
END 
 

(END) Dow Jones Newswires

July 12, 2016 07:36 ET (11:36 GMT)