Tlou Energy (ASX:TOU) raises $2m for Lesedi Power project, Botswana – The Market Herald


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  • Tlou Energy (TOU) raises $2 million for the development of its Lesedi energy project in Botswana, Africa
  • The company has issued more than 57 million new ordinary shares to a new strategic investor through an entity controlled by wealthy investor Dr. Ian Campbell
  • The shares were priced at 3.5 cents, representing a 34.6% premium to Tlou’s closing price of 2.6 cents on November 3.
  • Dr. Campbell is also working with the company to potentially secure additional funding so it can accelerate its goal of generating 10 megawatts of electricity.
  • Tlou ends the day 15.4% in the green to close at 3 cents

Tlou Energy (TOU) has raised $2 million for the development of its Lesedi power project in Botswana, Africa.

The company issued approximately 57.1 million shares to a new strategic investor through an entity controlled by wealthy investor Dr. Ian Campbell.

The shares were priced at 3.5 cents, representing a 34.6% premium to Tlou’s closing price of 2.6 cents on November 3 and a 44% premium to the weighted average price in based on 15-day volume of 2.43 cents.

Dr. Campbell now holds an 8.69% stake in Tlou and has the right to appoint an administrator for Advice to Tlou if its stake exceeds 9.99 percent.

“We have been working for some time to secure the next round of funding partners for the company and we are delighted to have reached an agreement with the first of them being Dr Ian Campbell, who has invested at a premium over at the prevailing share price,” CEO Anthony Gilby said.

Tlou is also negotiating with Dr. Campbell for an additional slice of development capital to advance his original goal of 10 megawatts of power generation.

Dr. Campbell reportedly told the company he would work with them to secure additional funding.

Tlou ended the day 15.4% in the green to close at 3 cents.

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