REG - Amigo Resources PLC - Subscription to raise £3.07m to support strategy

Amigo ResourcesAnnouncement

Mon 07:00

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RNS Number : 3489G  Amigo Resources PLC  01 June 2026

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR
FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE
RELEVANT LAWS OF SUCH JURISDICTION

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

FOR IMMEDIATE RELEASE
 
                                     1 June
2026

 

Amigo Resources PLC

("Amigo" or the "Company")

 

Subscription to raise £3.07 million to support strategy

 

Amigo Resources PLC (LSE: AMGO) is pleased to announce that it has entered
into subscription agreements with existing and new investors to raise total
gross proceeds of £3,073,634.87 (the "Subscription"). The Subscription
comprises the issue of 139,710, 676 new ordinary shares of 0.25p each in the
Company (the "Subscription Shares") at a price of 2.2 pence per Subscription
Share (the "Issue Price").

 

1.            Core Terms, Pricing and Strategic Premium

 

The Issue Price represents a discount of 20 per cent. to the closing
mid-market price of 2.75 pence on 29 May 2026.

 

Significantly, the Issue Price represents a 633.33 per cent. premium to the
0.3p per share conversion price at which the Company's £1.5 million mandatory
convertible loan notes ("Loan Notes") were conditionally issued in November
2025 and subsequently approved by shareholders at the General Meeting held on
19 December 2025.

 

The Board believes that the pricing of the Subscription is in the best
interests of the Company and its shareholders as a whole. However, Amigo's
shareholders have not specifically approved the terms of the offer or placing
at that discount. Securing immediate capital certainty from committed partners
allows the Company to maintain its robust trajectory in Africa while
validating the value-accretion achieved since the transition into the mining
sector began.

 

2.            Use of Proceeds

 

The earlier capital raise of approximately £1.68 million - raised through the
Loan Notes and the WRAP raise - has been systematically deployed to establish
the Company's base operational platform in Tanzania.

 

The Board intends to utilise the net proceeds of the Subscription to provide
the Group with general working capital as well as supporting a possible
initial reverse transaction ("Reverse") which the Company continues to seek
(as reported as its intention back in October when Mr Ransley first joined the
Company as a consultant) likely to be within the mining sector. It is
emphasised that as of this time, no such terms have been agreed for such a
possible Reverse and a further announcement will be made as and when they are.
In the meantime, there can be no certainty that a Reverse will take place.

 

3.            Share Authorities

 

The Subscription Shares are being issued to new and existing shareholders
(some of which were introduced by Clear Capital Markets) under the existing
share authorities granted to the Directors at the Company's Annual General
Meeting held on 2 March 2026. Specifically, the issuance utilizes the
authorities to allot shares for cash on a non-pre-emptive basis pursuant to
Resolutions 16 and 17.

 

4.            Admission and Settlement

 

Application will be made for the Subscription Shares to be admitted to the
Equity Shares (Commercial Companies) category of the Official List and to
trading on the main market of the London Stock Exchange ("Admission").

 

It is expected that Admission will become effective and that unconditional
dealings in the Subscription Shares will commence at 8:00 a.m. on or around 8
June 2026. The Subscription Shares will be issued fully paid and will rank
pari passu in all respects with the Company's existing ordinary shares.

 

5.            Total Voting Rights (TVR)

 

Following Admission, the Company's enlarged issued share capital will comprise
1,329,798,836ordinary shares of 0.25p each. The Company holds no shares in
treasury. Therefore, the total number of voting rights in the Company is
1,329,798,836.

 

The above figure of 1,329,798,836 may be used by shareholders as the
denominator for the calculations by which they will determine if they are
required to notify their interest in, or a change to their interest in, the
Company under the FCA's Disclosure Guidance and Transparency Rules.

 

 

Contacts:

 Amigo Holdings PLC         investors@amigo.me
 Craig Ransley              Executive Chair
 Nick Beal                  Chief Executive

 Sponsor                    Beaumont Cornish

                            0207 628 3396

 

About Amigo Resources PLC

Amigo is a public limited company registered in England and Wales with
registered number 10024479. Amigo is focussed on gold and rare earth mining
opportunities in Africa, principally in Tanzania and Mauritania. The Amigo
Shares are listed on the Official List of the London Stock Exchange

 

 

Important Notice & Forward-Looking Statements

This announcement is not intended to, and does not, constitute or form part of
any offer, invitation, or the solicitation of an offer to purchase, otherwise
acquire, subscribe for, sell, or otherwise dispose of, any securities, or the
solicitation of any vote or approval in any jurisdiction, pursuant to this
announcement or otherwise.

This announcement contains forward-looking statements relating to the proposed
Joint Venture, the licence portfolio and exploration plans. Such statements
are based on current expectations and assumptions and are subject to risks and
uncertainties, including the completion of due diligence, definitive
documentation, regulatory approvals, exploration outcomes, commodity prices,
and operational conditions. This document is for informational purposes only
and does not constitute an offer or solicitation to buy or sell securities.

 

 

 

-ENDS-

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