Botswana Diamonds raises £500 000 for exploration

Aim-listed Botswana Diamonds has raised £500 000 through the placing of 33.33-million new ordinary shares with new and existing investors at 1.5p apiece. The placing shares represented 9.9% of the company's issued share capital. The net proceeds of the placing would be used to fund ongoing diamond exploration in Botswana, which was being managed by Alrosa, the company's joint venture partner.