(“IamFire” or the “Company”)
Corporate Update & Strategic Financing
CEO & Director, Burns Singh Tennent-Bhohi statement,
“Following IamFire’s restructure and recapitalisation last year, the Board and I are reviewing a number of different strategies which complement the direction we are moulding for the Company. This includes adding skilled senior management and Directors, as well as key long-term financial partners.
These two together will provide the Company with valuable liquidity and the skills needed to identify and secure a strong dealflow to provide value to the Company and our shareholders.
IamFire’s focus is in three industry classes;
Natural Resources, Mining & Exploration, and Disruptive Technology.
Our core ethos is to seek, evaluate and transact opportunities exposed to the growth areas in global consumption which generate disproportionately higher capital returns on investment. The Company will utilise non-cash dilutive instruments where possible.
During a period of heightened volatility in global financial markets, IamFire has raised gross proceeds in this financing of £500,000 which was oversubscribed. Thank you to those existing shareholders who participated. I also welcome our new shareholders to IamFire and thank you for your commitment.
The completion of this financing secures the Company with strong working capital and includes the participation of a broad range of investors not normally seen in such a small company including; Family Offices, UHNWs, Investment Funds,
The Board and I look forward to providing further updates to the market as we continue to develop and streamline the Company’s corporate strategy.”
Terms of Private Placement
Related Party Disclosure
The participation of Burns Singh Tennent-Bhohi,
Upon admission the shareholdings of the above shall be as follows:
Director/Related Shares Currently Subscription Total Shares % of Total Issued Party Held Shares After Admission Share Capital of Subscription Shares Burns Singh 416,667 2,800,000 3,216,667 11.5% Tennent-Bhohi Jeremy Ross* 416,667 100,000 516,667 1.84% Noel Lyons 1,900,923 1,000,000 2,900,923 10.35% Eurocann 625,000 400,000 1,025,000 3.6% International plc (AQSE:BUD)**
*Upon admission all, 516,667 shares will be held in
**Both Burns Singh Tennent-Bhohi &
Admission of Shares & Total Voting Rights (TVRs)
Application will be made for the placing and subscription shares to be admitted to trading on AQSE which is expected to occur on or around 8th
This number will represent the total voting rights in the Company, and following admission, may be used by shareholders as the denominator for the calculation by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority’s Disclosure and Transparency Rules. The new shares will rank pari passu in all respects with the ordinary shares of the Company currently traded on AQSE.
The Directors of the Company accept responsibility for the content of this announcement.
Burns Singh Tennent-Bhohi (CEO & Director)
Direct Office Line: +44 (0) 20 3778 0755