10 Feb 2021
Sova Capital acted as Agent on the capital raise announced today by Chaarat Gold, the AIM-listed gold mining company with assets in Kyrgyzstan and Armenia.
Chaarat completed a financing package totalling around US$ 52 million, including an equity raise of US$ 30.0 million and a debt-to-equity conversion of US$ 22 million. Strong demand from new equity investors, in particular, meant the Company was able to exceed its previously announced target of US$ 25 million.
Alina Sychova, Head of Capital Markets Origination at Sova Capital, said:
“Sova Capital is continuing to strengthen its expertise in the gold mining sector, and we are delighted to have supported Charaat Gold to raise capital and diversify the Company’s shareholder base. We are also pleased to have expanded our services to AIM-listed companies as we continue to bring new and interesting stories to the global investment community.”