Ubuntu Mining and Metals Inc.

@TechFinancials (AQSE: #TECH) has entered into a Share Sale and Purchase Agreement to acquire up to a 60% interest in the high-grade Dilotiko iron ore project in Kenya. The company has already secured an initial 25% stake through the issue of 57,142,857 ordinary shares. As part of the transaction, TechFinancials issued a further 20,000,000 ordinary shares at 0.25p each to @GM_InvestAfrica, acting as introducer. Additional shares are set to be issued subject to the project reaching commercial production and the exercise of an option to increase the company’s ownership to 60%. The group has also raised £250,000 via a placing with Gathoni Muchai Investments, with proceeds earmarked for mine optimisation studies and further exploration at the Dilotiko Project. Alongside the acquisition, TechFinancials is progressing with a proposed corporate rebrand to Ubuntu Mining and Metals, Inc. and plans to appoint two new directors to strengthen its board. @JB_MiningAfrica share-talk.com/techfinancial… via @Share_Talk