Botswana Diamonds plc announced recently that by placing 33,333,333 new ordinary shares (Placing Shares), the Company has raised £500,000. The Placing Shares have been priced at 1.5p per share and these represent approximately 9.9% of the Company's total issued share capital.

“The net proceeds of the Placing will fund ongoing diamond exploration in Botswana which is being operated by Alrosa, the Company's 50:50 joint venture partner, and will also provide the Company with additional working capital,” the Company stated.

It is expected that the Placing Shares will be admitted to trading on AIM on or around May 20, 2016.

John Teeling, Chairman, Botswana Diamonds commented: "We have a very active ongoing drilling, sampling and geophysics programme on our ground in Botswana.  We expect this work to continue through the rest of 2016.  This placing ensures we are fully funded."