BWA Group PLC Business & Funding Update
November 18 2022 - 2:00AM
UK Regulatory
TIDMBWAP
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11
OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310.
18 November 2022
BWA Group PLC
("BWA" or the ��Company")
Business & Funding Update
BWA Group plc [AQSE: BWAP], which has mineral exploration licences in
both Cameroon and Canada at various stages of development and is quoted on
London's AQSE Growth Market, announces an update on its funding and working
capital position.
The position set out in the announcement of 13 October 2022 is materially
unchanged. The board of directors of the Company (the "Board") continues to
review alternative sources of capital for the Company. These include, but are
not limited to:
* Further issues of Loan Notes;
* Disposals of assets; and
* Seeking additional capital at a subsidiary level.
Such investment could be into BWA, its subsidiaries or directly into projects.
The Board is cognisant of the current difficulties in raising funds on public
equity markets and is taking appropriate professional advice.
As at 15 November 2022, the Company had cash balances of £7,367 and net current
liabilities of £168,450. The Board continues to seek to minimise any further
expenditure until a solution can be found.
Further updates will be made as matters develop.
The Directors of BWA are responsible for the contents of this announcement.
Ends -
For further information:
BWA Group PLC +44 7770 225253
James Butterfield enquiries@bwagroupplc.com
Interim Chairman
Allenby Capital Limited +44 20 3328 5656
Corporate Adviser
Nick Harriss/Freddie Wooding
END
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