Hamak Gold Limited, a gold exploration company, has announced the implementation of a Bitcoin treasury management strategy, drawing attention in financial circles.
Funding and New Share Issuance
On July 3, Hamak Gold Limited announced the raising of £2.47 million through a placing and subscription round priced at 0.8 pence per share, reflecting a 27% discount from the previous closing price. This resulted in the issuance of 308.4 million new ordinary shares, representing 68.2% of Hamak’s newly enlarged share capital of 452.1 million shares. Each new share comes with a two-year warrant exercisable in the second year, maintaining a one-year lock-in period.
Leadership Changes
The funding round coincided with leadership changes as former Executive Chairman Amara Kamara and Non-Executive Director Niall Young stepped down, with Nick Thurlow and James Lawrence now taking on the roles of Executive Chairman and Executive Director, respectively. Investor MBS Global Investments, which subscribed for £100,000, also noted that part of the proceeds would be directed towards establishing a Bitcoin treasury.
Market for Digital Assets in London
Recent research indicates that several other companies in London have also disclosed plans to acquire digital assets, signifying a growing interest in Bitcoin among businesses. For instance, Panther Metals and Bluebird Mining Ventures have expressed intentions to increase their Bitcoin holdings, while Smarter Web Company experienced a spike in market value to £806.2 million in just two months.
Hamak Gold Limited is showing a strong interest in aligning its business strategies with the digital asset landscape. With the recent leadership changes and funding via new share issuance, Hamak Gold is poised to navigate both gold exploration and Bitcoin treasury management effectively.
