On April 28, 2021, the Company announced that its business broker had raised gross proceeds before fees of Â£ 3,500,000 in a negotiated financing at 2p per share through the issuance of 175,000,000 of ordinary shares of the Company.
The funding was backed by a number of leading investors in the industry. At the same time as this financing, the Company announced that it would seek the consent of shareholders to adopt an investment policy that will allow it to invest in the field of medical psychedelics. Adopting this investment policy would make DiscovOre plc one of the only investment issuers in the UK market that has a diversified investment policy with particular emphasis on providing exposure to the healthcare sector. rapidly developing health alternatives through investment policies covering medical cannabis and medical psychedelics.
The appetite for such an investment vehicle was expressed in the amount raised.
The main objective of this proposed investment strategy will be to invest in companies or assets involved in the development of potential treatments for mental health problems, which include, but are not limited to:
– Drug-resistant depression
– Post-traumatic stress disorder
The Company welcomed Ms. Narisha Ragoonanthun to the Board of Directors as Chief Financial Officer on April 27, 2021. Ms. Ragoonanthun is a South African Chartered Accountant with extensive experience in providing audit and accounting advice to listed clients. in Europe, Asia and the Americas. . Ms. Ragoonanthun also has specific industry experience with the public sector, natural resources, online gaming and start-ups.
The Company further announced that Jeremy Ross, non-executive director of the Company, has resigned on April 27, 2021.
With strong cash flow, management change and a broad conditional investment strategy, DiscovOre plc is well positioned to leverage its investment strategy and create a single investment issuer providing investors with exposure to opportunities. for which few are available in the current market. We look to the future of the Company with great confidence.