Corcel plc has to date received £399,750 cash of April’s £1.3m fundraise.
The company will issue 79,950,000 of tranche I shares, including 39,975,000 shares to director Geraldine Geraldo. The company will also issue 79,950,000 warrants.
Corcel expects the balance of the tranche I funds of £400,000 and the tranche II funds of £500,000 in due course.
Following admission of the 79,950,000 tranche I shares, Corcel’s total issued share capital will comprise 1,954,744,153 ordinary shares, with one voting right per share. The company holds no shares in treasury.