BWAP BWA Group plc

 
TIDMBWAP 
 
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 
        OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310. 
 
                                                               18 November 2022 
 
                                 BWA Group PLC 
 
                  ("BWA" or the ��Company") 
 
                           Business & Funding Update 
 
BWA Group plc [AQSE: BWAP], which has mineral exploration licences in 
both Cameroon and Canada at various stages of development and is quoted on 
London's AQSE Growth Market, announces an update on its funding and working 
capital position. 
 
The position set out in the announcement of 13 October 2022 is materially 
unchanged.  The board of directors of the Company (the "Board") continues to 
review alternative sources of capital for the Company.  These include, but are 
not limited to: 
 
  * Further issues of Loan Notes; 
  * Disposals of assets; and 
  * Seeking additional capital at a subsidiary level. 
 
Such investment could be into BWA, its subsidiaries or directly into projects. 
 The Board is cognisant of the current difficulties in raising funds on public 
equity markets and is taking appropriate professional advice. 
 
As at 15 November 2022, the Company had cash balances of £7,367 and net current 
liabilities of £168,450.  The Board continues to seek to minimise any further 
expenditure until a solution can be found. 
 
Further updates will be made as matters develop. 
 
The Directors of BWA are responsible for the contents of this announcement. 
 
                                    Ends - 
 
For further information: 
 
BWA Group PLC                          +44 7770 225253 
James Butterfield            enquiries@bwagroupplc.com 
Interim Chairman 
 
 
Allenby Capital Limited               +44 20 3328 5656 
Corporate Adviser 
Nick Harriss/Freddie Wooding 
 
 
 
END 
 
 

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