The Company has raised gross proceeds of $ 12.2 million (US$ 15.5 million)
by placing 41,480,174 new ordinary shares at a
placing price of $ 0.295 (# 19.8 p) per ordinary share, indicating a
market capitalisation for the Company of approximately $ 52.1 million (# 35 million).
The acquisition will be funded in part
by an underwritten cashbox
placing with gross proceeds of approximately # 150 million, representing approximately 5 per cent of BTG's
market capitalisation based on the closing share price on 3 December 2014.