REG - Chaarat Gold Hlgs Ld - Statement re. Suspension

Chaarat Gold HoldingsAnnouncement

24/10/2022 14:15

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RNS Number : 9115D  Chaarat Gold Holdings Ltd  24 October 2022

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 (which forms part of UK domestic law by virtue of the
European Union (Withdrawal) Act 2018).

24 October 2022

Chaarat Gold Holdings Limited

("Chaarat" or the "Company")

Confirmation of Discussions

Chaarat (AIM:CGH), the AIM-quoted gold mining company with assets in the
Kyrgyz Republic and Armenia, notes recent media speculation and confirms that
it is in discussions regarding the potential acquisition (the "Acquisition")
of Lydian Armenia CJSC (the "Target") from Lydian Canada Ventures Corporation.

The proposed Acquisition would constitute a Reverse Takeover as defined under
the AIM Rules, due (among other things) to the size of the Acquisition.
Accordingly, trading in Chaarat's shares will be suspended with immediate
effect pending the publication of the required AIM Admission Document or an
announcement that the potential Acquisition is not proceeding.

There is no certainty at this stage, that the proposed Acquisition will be
completed.  A further announcement will be made when appropriate.

Enquiries

 Chaarat Gold Holdings Limited                       +44 (0)20 7499 2612
 Mike Fraser (CEO)                                   ir@chaarat.com (mailto:ir@chaarat.com)

 Canaccord Genuity Limited (NOMAD and Joint Broker)  +44 (0)20 7523 8000
 Henry Fitzgerald-O'Connor
 James Asensio

 finnCap Limited (Joint Broker)                      +44 (0)20 7220 0500
 Christopher Raggett

 Panmure Gordon (UK) Limited (Joint Broker)          +44 (0)20 7886 2500
 John Prior

 Hugh Rich

 

About Chaarat

Chaarat is a gold mining company which owns the Kapan operating mine in
Armenia as well as Tulkubash and Kyzyltash Gold Projects in the Kyrgyz
Republic. The Company has a clear strategy to build a leading emerging markets
gold company through organic growth and selective M&A.

Chaarat is engaged in active community engagement programmes to optimise the
value of the Chaarat investment proposition.

Chaarat aims to create value for its shareholders, employees and communities
from its high-quality gold and mineral deposits by building relationships
based on trust and operating to the best environmental, social and employment
standards. Further information is available at www.chaarat.com
(http://www.chaarat.com) .

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