The firm is issuing 66,667 new ordinary shares at 30p apiece to Chase Nominee.

This takes the total number of its shares held by Chase Nominee Ltd to 141,667 while the total number of shares in issue rises to 2,867,333.

The board said it had raised this new capital to pursue the due diligence of a new acquisition that has been identified.

Worldwide Natural Resources is committed to creating a major mining and natural resources business and believes it has all the necessary relationships, skills and experience to deliver shareholder value from the many opportunities available to it particularly in southern Africa.

Story provided by Business Financial Newswire