Non-Receipt of GMI Underwritten Placing Proceeds

TechFinancials Inc.

05 December 2025

 

TechFinancials, Inc.

("TechFinancials" or the "Company")

5 December 2025

Non-Receipt of GMI Underwritten Placing Proceeds

TechFinancials, Inc. (AQSE: TECH), announces that, further to the announcement of 17 November 2025, the Company has still not received the £250,000 proceeds from the placing announced on 18 September 2025 (the "Placing").

The Placing was underwritten by Gathoni Muchai Investments Limited ("GMI"), a Kenyan-based investment banking and corporate finance group. Mining executive, Jason Brewer, is a major shareholder and a director of GMI and is responsible for its investments in the mining sector in Africa.

The Company confirms that it is in discussions with GMI, about transferring the funds, for which the available balance of £250,000 has been confirmed. There appears to be logistical issues of transferring from GMI's Kenyan bank account to the Company's bank account and the parties are seeking alternative transfer arrangements for the payment to be made.

Further announcements will be made as and when further information on the Placing proceeds becomes available.

The directors of the Company accept responsibility for the contents of this announcement.

 For further information:

TechFinancials, Inc.	Tel: [phone]
Asaf Lahav, Executive Director
Eitan Yanuv, Non-Executive Chairman
AlbR Capital Limited (Aquis Corporate Adviser)	Tel: [phone]

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR").

 

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