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LONDON - Hot Rocks Investments plc (HRIP) has subscribed for £100,000 worth of new ordinary shares in Hamak Gold Limited’s approximately £2.5 million financing round, according to a press release statement issued Friday.
The investment will provide Hot Rocks with 12,500,000 ordinary shares in Hamak Gold at 0.8 pence per share, along with 12,500,000 warrants exercisable at the same price over a two-year period. The warrants will be subject to a 12-month lock-in period.
Hamak Gold plans to use the net proceeds to settle certain creditors and for general working capital purposes. The company indicated that any excess funds would be directed toward a Bitcoin Treasury Management program.
The financing round was initially announced by Hamak Gold on Thursday, July 3.
Following completion of this transaction and a separate Cel AI financing, Hot Rocks Investments will hold equity and/or warrant positions in 25 different entities spanning various sectors including energy, minerals, digital assets, and financial technology.
The companies in Hot Rocks’ portfolio include Cel AI plc, Elephant Oil Corp, Hamak Gold Limited, Mendell Helium plc, Orcadian Energy Plc, Phoenix Digital Assets plc, Tap Global Group plc, and Unicorn Mineral Resources plc, among others.
Hot Rocks Investments’ directors stated they continue to seek opportunities to diversify and add value for shareholders.
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