Japaul Gold and Ventures Plc. Announce Significant Capital Commitment from GEM
LAGOS, Nigeria, Aug. 22, 2024 /PRNewswire-PRWeb/ -- Japaul Gold and Ventures Plc. (the "Company") (JAPAULGO:NL) announced today that it has secured a capital commitment of $20 million in the form of a Share Subscription Agreement (SSF) from Gem Global Yield LLC SCS (GGY).
Under the terms of the SSF, Japaul Gold will be able to draw down funds by issuing equity shares to GGY for a three-year period. The Company will control the timing of such draw downs and has no minimum draw down obligation.
Japaul Gold is previously known for providing offshore support services to the oil and gas industry. The Company has now fully transitioned into exploration and production of gold, zinc, lead, tin, and copper among other critical minerals.
Japaul Gold will use proceeds from GEM's commitment to complete ongoing mine acquisitions and begin exploration of its gold, copper ore, lead and zinc mines at Eti-Oni, in Osun State, Northern LGAs of Oyo State as well as the Arufu Projects in Taraba State, Nigeria.
"We are extremely excited by the GEM commitment as it offers opportunities to scale-up our operations and strengthen our offerings in the global market space," declared Mr. Jegede Paul, the Chairman of Japaul Gold.
About Japaul Gold
Japaul Gold & Ventures Plc is an NGX listed entity, previously an offshore support service company in the Nigerian oil and gas industry, with experience offering vessel leasing and oilfield support services to international oil companies, including ExxonMobil, Chevron, Total and Nigerian NLG Ltd.
In 2020, the company transitioned into the exploration and production of strategic and critical minerals for the new world of energy transition and sustainable digitalization. Japaul is poised to becoming an emerging gold producer from Sub-Saharan Africa and major supplier of critical minerals to sustain the global value chain as the world transitions into green energy. For more information visit: www.japaulgroup.com.
About GEM
Global Emerging Markets ("GEM") is a $3.4 billion alternative investment group that manages a diverse set of investment vehicles and has completed over 570 transactions in 70 countries. Each investment vehicle has a different degree of operational control, risk-adjusted return and liquidity profile. Our family of funds and investment vehicles provide GEM and its partners with exposure to: Small-Mid Cap Management Buyouts, Private Investments in Public Equities (PIPEs) and select venture investments. For more information visit: www.gemny.com.
Media Contact
Engr Abayomi Talabi, Japaul Group, 234 806 237 7018, [email protected], www.japaulgroup.com
SOURCE Japaul Group
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