Two Shields Investments Plc (LON: TSI) have raised £1 million of extra funds through an oversubscribed placing, which will go towards further investments into BrandShield and WeShop.
BrandShield is an anti-counterfeiting, anti-phishing and online brand protection firm, while WeShop is an e-commerce-focused social network platform. Two Shields currently has an 11% shareholding in BrandShield and 6.7% stake in WeShop.
Two Shields have raised £1 million through the issue of 1.00 billion shares at a price of 0.10 pence per share. This saw a 29% discount from the company’s closing price on Monday at 0.14p.
“I would like to welcome our new Investors and thank existing investors for their continued support as Two Shields continues its journey and transition into the next phase of development. I have spent a considerable amount of time with both BrandShield and WeShop and I am very excited about prospects and growth trajectory,” said Chair Andrew Lawley.
Additionally, in the announcement Two Shields said that Kalahari Key Mineral Exploration Pty Ltd has selected five targets in the Molopo Farms Complex project.
It is notable that Two Shield hold an 18% stake in Kalahari Key Mineral Exploration Pty Ltd.
The Molopo project is a nickel-copper-platinum group metals exploration project in Botswana.
“Kalahari Key are rapidly advancing in Botswana to a position where they can drill the high priority targets. The initial programme will cover five very strong conductor targets and will optimise the chance of making a discovery,” said Chief Executive Paul Johnson.
Kalahari Key will implement gravity surveys over the five drill targets, to eliminate any chance that the targets are graphite rather than sulphide bodies, as the former would be of interest.
The decision to invest in Kalahari Key Mineral Exploration Pty Ltd shows diversification from Two Shields and a willingness to invest capital into a relatively young firm.
Shares of Two Shields have dropped 10.34% during Tuesday Trading, and are currently valued at 0.13p per share.
In the finance sector there have been updates. Hastings (LON: HSTG) have seen revenue falls despite increase in GWP, Integrafin (LON: IHP) have seen their annual funds rise and Georgia Capital (LON: CGEO) have seen their shares drop.
