Myanmar Investments International Limited has raised US$4,219,081, gross, through a direct subscription with the company for 3,245,447 new ordinary shares at US$1.30 apiece.
The company also announces that it has issued 811,368 warrants in the ratio of 1 warrant for every 4 subscription shares subscribed for as part of the subscription.
The warrants are identical in all respects with the company's existing 15,232,680 warrants currently in issue.
Each warrant entitles the holder to subscribe for an ordinary share at an exercise price of US$0.75. The warrants may be exercised at any time to 21 June 2018.
The proceeds of the subscription will be used to fund the company's investment pipeline in order to take advantage of a number of live investment opportunities.
It is expected that, subject to market conditions, the proceeds will be deployed within six months.
At 8:21am: (LON:MIL) Myanmar Investments International Ltd share price was +0.01p at 1.38p