REG - Chaarat Gold Hlgs Ld - Update on Suspension

Chaarat Gold HoldingsAnnouncement

24/04/2023 15:00

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RNS Number : 2641X  Chaarat Gold Holdings Ltd  24 April 2023

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 April 2023

Chaarat Gold Holdings Limited

("Chaarat" or the "Company")

Update on Suspension

Further to the announcement made by Chaarat on 24 October 2022 confirming that
it was in discussions regarding the potential acquisition of Lydian Armenia
CJSC (the "Target") from Lydian Canada Ventures Corporation and that its
shares were being suspended from trading on AIM (the "Suspension"). Chaarat
has decided to discontinue the discussions with immediate effect as no
acquisition structure could be agreed within the maximum 6-month suspension
period. Chaarat therefore confirms that it is no longer pursuing an
acquisition of the Target.

Chaarat will continue to seek and evaluate opportunities to diversify its
asset portfolio and grow inorganically, as well as pursuing organic growth
through its existing assets.

Chaarat has applied to AIM for the Suspension to be lifted.  It is
anticipated that trading in Chaarat's shares will be restored from 3pm on 24
April 2023.

 

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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