REG - Caledonia Mining Crp - Issue of shares and listing of securities on VFEX

Caledonia MiningAnnouncement

02/12/2021 07:00

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RNS Number : 3022U  Caledonia Mining Corporation PLC  02 December 2021

Caledonia Mining Corporation Plc

 

Issue of shares and subsequent listing of securities on VFEX

 

(NYSE AMERICAN: CMCL; AIM: CMCL)

 

St Helier, December 2, 2021 - Further to its announcement on November 29, 2021
concerning the oversubscribed placing of securities to be listed on the
Victoria Falls Stock Exchange in Zimbabwe ("VFEX"), Caledonia Mining
Corporation Plc ("Caledonia" or the "Company") announces that it has now
issued and allotted 619,783 shares of no par value each against which the same
number of depositary receipts have been issued to Zimbabwe investors.

 

The issue of depositary receipts has raised gross proceeds for the Company of
approximately US$7.83m.  Listing of the depositary receipts on the VFEX is
expected to occur today with trading also commencing today.

 

The Company now has a total number of shares in issue of 12,756,606 common
shares of no par value each.  Caledonia has no shares in treasury; therefore,
this figure may be used by holders as the denominator for the calculations by
which they determine if they are required to notify their interest in, or a
change to their interest in, the Company. Application has been made to AIM for
admission of an equivalent number of new depositary interests representing the
same number of new shares in the share capital of the Company which will rank
pari passu with the existing shares in issue, and admission of those
depositary interests is expected to occur tomorrow.

 

 Caledonia Mining Corporation Plc

 Mark Learmonth                      Tel: +44 1534 679 802

 Camilla Horsfall                    Tel: +44 7817 841793
 WH Ireland

 Adrian Hadden/ Andrew De Andrade    Tel: +44 20 7220 1751
 Blytheweigh Financial PR

 Tim Blythe/Megan Ray                Tel: +44 207 138 3204
 3PPB

 Patrick Chidley                     Tel: +1 917 991 7701

 Paul Durham                         Tel: +1 203 940 2538
 Curate Public Relations (Zimbabwe)

 Debra Tatenda                       Tel: +263 77802131

The information contained within this announcement is deemed by the Company to
constitute inside information under the Market Abuse Regulation (EU) No.
596/2014 ("MAR") as it forms part of UK domestic law by virtue of the
European Union (Withdrawal) Act 2018 and is disclosed in accordance with the
Company's obligations under Article 17 of MAR.

 

Cautionary Note Concerning Forward-Looking Information

 

Information and statements contained in this news release that are not
historical facts are "forward-looking information",

"financial outlooks" or "future oriented financial information" (collectively,
"forward-looking information") within" within the meaning of applicable
securities legislation that involve risks and uncertainties relating, but not
limited to Caledonia's current expectations, intentions, plans, and beliefs.
Forward-looking information can often be identified by forward-looking words
such as "anticipate", "believe", "expect", "goal", "plan", "target", "intend",
"estimate", "could", "should", "may" and "will" or the negative of these terms
or similar words suggesting future outcomes, or other expectations, beliefs,
plans, objectives, assumptions, intentions or statements about future events
or performance. Examples of forward-looking information in this news release
include: production guidance, estimates of future/targeted production rates,
and our plans and timing regarding further exploration and drilling and
development, construction plans, financial and shareholders returns on
investment in construction projects and electricity production/supply to the
mine.  This forward-looking information is based, in part, on assumptions and
factors that may change or prove to be incorrect, thus causing actual results,
performance or achievements to be materially different from those expressed or
implied by forward-looking information.  Such factors and assumptions
include, but are not limited to: failure to establish estimated resources and
reserves, the grade and recovery of ore which is mined varying from estimates,
success of future exploration and drilling programs, reliability of drilling,
sampling and assay data, assumptions regarding the representativeness of
mineralization being inaccurate, success of planned metallurgical test-work,
capital and operating costs varying significantly from estimates, delays in
obtaining or failures to obtain required governmental, environmental or other
project approvals, inflation, changes in exchange rates, fluctuations in
commodity prices, delays in the development of projects, the completion of
construction projects, the proposed benefits from construction projects and
other factors.

 

To the extent any forward-looking information herein constitutes a financial
outlook or future oriented financial information,

any such statement is made as of the date hereof and included herein to
provide prospective investors with an understanding of the Company's
construction plans and assumptions. Security holders, potential security
holders and other prospective investors are cautioned that such information
may not be appropriate for other purposes and should be aware that these
statements are subject to known and unknown risks, uncertainties and other
factors that could cause actual results to differ materially from those
suggested by the forward-looking statements.  Such factors include, but are
not limited to: risks relating to estimates of mineral reserves and mineral
resources proving to be inaccurate, fluctuations in gold price, risks and
hazards associated with the business of mineral exploration, development and
mining, risks relating to the credit worthiness or financial condition of
suppliers, refiners, contractors and other parties with whom the Company does
business; inadequate insurance, or inability to obtain insurance, to cover
these risks and hazards, employee relations; relationships with and claims by
local communities and indigenous populations; political risk; risks related
to natural disasters, terrorism, civil unrest, public health concerns
(including health epidemics or outbreaks of communicable diseases such as the
coronavirus (COVID-19)); availability and increasing costs associated with
mining inputs and labour; the speculative nature of mineral exploration and
development, including the risks of obtaining or maintaining necessary
licenses and permits, diminishing quantities or grades of mineral reserves as
mining occurs; global financial condition, the actual results of current
exploration activities, changes to conclusions of economic evaluations, and
changes in project parameters to deal with unanticipated economic or other
factors, risks of increased capital and operating costs, environmental, safety
or regulatory risks, expropriation, the Company's title to properties
including ownership thereof, increased competition in the mining industry for
properties, equipment, qualified personnel and their costs, risks relating to
the uncertainty of timing of events including targeted production rate
increase, construction activity and currency fluctuations. Security holders,
potential security holders and other prospective investors are cautioned that
the assumptions used in the preparation of such forward-looking information,
although considered reasonable at the time of preparation, may prove to be
imprecise and, accordingly, they should not place undue reliance on such
forward-looking information. By its nature, forward-looking information
involves numerous assumptions, inherent risks and uncertainties, both general
and specific, that contribute to the possibility that the predictions,
forecasts, projections and various future events will not occur. Caledonia
undertakes no obligation to update publicly or otherwise revise any
forward-looking information whether as a result of new information, future
events or other such factors which affect this information, except as required
by law.

 

This news release is not an offer of the shares of Caledonia for sale in the
United States or elsewhere. This news release shall not constitute an offer to
sell or the solicitation of an offer to buy, nor shall there be any sale of
the shares of Caledonia, in any province, state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such province, state or
jurisdiction.

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