REG - Greatland Gold PLC - Primary Bid Offer

Greatland GoldAnnouncement

18/11/2021 16:50

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RNS Number : 8834S  Greatland Gold PLC  18 November 2021

 

18 November 2021

THIS ANNOUNCEMENT (INCLUDING THE IMPORTANT NOTICES) AND THE INFORMATION
CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR
DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM
THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR
ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION
WOULD BE UNLAWFUL. PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS
ANNOUNCEMENT.

THIS ANNOUNCEMENT AMOUNTS TO A FINANCIAL PROMOTION FOR THE PURPOSES OF SECTION
21 OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 ("FSMA") AND HAS BEEN
APPROVED BY PRIMARYBID LIMITED WHICH IS AUTHORISED AND REGULATED BY THE
FINANCIAL CONDUCT AUTHORITY (FRN 779021).

THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY, AND DOES NOT CONSTITUTE
OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION
OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY SECURITIES OF GREATLAND GOLD
PLC.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK
VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH
LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED.  ON
PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS
INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

Greatland Gold plc
("Greatland" or "the Company")

Primary Bid Offer

Greatland Gold plc (AIM:GGP), a mining development and exploration company
with a focus on precious and base metals, is pleased to announce a conditional
retail offer for subscription via PrimaryBid (the "Retail Offer") of new
ordinary shares of nominal value £0.001 each in the capital of the Company
(the "New Ordinary Shares"). The price at which the New Ordinary Shares are to
be placed is 14.5p per New Ordinary Shares (the "Issue Price").

 

The Company is also conducting a non-pre-emptive Placing (the "Placing") and
subscription by directors and officers (the "Subscription") of New Ordinary
Shares at the Issue Price by way of an accelerated bookbuild process as
announced earlier today.

The Retail Offer, the Placing and Subscription (together the "Fundraise") are
conditional on, among other things, the New Ordinary Shares being admitted to
trading on AIM, the market of that name operated by London Stock Exchange
plc. Admission is expected to take place at 8.00 a.m. on or around 24
November 2021. The Retail Offer will not complete unless the Placing and the
Subscription also completes.

The Company will use the net proceeds from the Fundraise to

§ fast track the development of the Company's flagship asset, the Havieron
gold-copper deposit ("Havieron"), in conjunction with joint venture partner
Newcrest Mining Limited ("Newcrest");

 

§ execute the resource growth roadmap including growth drilling at Havieron
and to explore the wider Havieron breccia system;

 

§ accelerate exploration activities on the Company's 100%-owned licenses to
target new discoveries similar to Havieron in the Paterson region; and

 

§ to pay certain costs associated with working capital and general corporate
purposes.

 

Retail Offer

The Company values its retail investor base and is therefore pleased to
provide private and other investors the opportunity to participate in the
Retail Offer by applying exclusively through the PrimaryBid mobile app
(available on the Apple App Store and Google Play). PrimaryBid does not charge
investors any commission for this service.

The Retail Offer, via the PrimaryBid mobile app, is now open to individual and
institutional investors and will close at 9.00 p.m. on 18 November 2021. The
Retail Offer may close early if it is oversubscribed.

The Company and the Joint Bookrunners reserves the right to scale back any
order at its discretion. The Company and PrimaryBid reserve the right to
reject any application for subscription under the Retail Offer without giving
any reason for such rejection.

No commission is charged to investors on applications to participate in the
Retail Offer made through PrimaryBid. It is vital to note that once an
application for New Ordinary Shares under the Retail Offer (the "Retail
Shares") has been made and accepted via PrimaryBid, an application cannot be
withdrawn.

For further information on PrimaryBid or the procedure for applications under
the Retail Offer, visit www.primarybid.com (http://www.primarybid.com) or
email PrimaryBid at enquiries@primarybid.com (mailto:enquiries@primarybid.com)
.

The New Ordinary Shares will be issued free of all liens, charges and
encumbrances and will, when issued and fully paid, rank pari passu in all
respects with the Company's existing ordinary shares, including, without
limitation, the right to receive all dividends and other distributions
declared, made or paid after the date of issue.

 

Details of the Retail Offer

Given the longstanding support of retail shareholders, the Company believes
that it is appropriate to provide retail and other interested investors the
opportunity to participate in the Retail Offer. The Company is therefore
making the Retail Offer available exclusively through the PrimaryBid mobile
app.

The Retail Offer is offered under the exemptions against the need for a
prospectus as per the Prospectus Regulation Rules. Accordingly, the Company is
not required to publish (and has not published) a prospectus in connection
with the Retail Offer as it falls within the exemption set out in section
86(1)(e) and 86(4) of FSMA.

The Retail Offer is not being made into any jurisdiction where it would be
unlawful to do so. In particular, the Retail Offer is being made only to
persons who are, and at the time the Retail Shares are subscribed for, will be
outside the United States and subscribing for the Placing Shares in an
"offshore transaction" as defined in, and in accordance with, Regulation S
("Regulation S") under the U.S. Securities Act of 1933, as amended (the
"Securities Act"). Persons who are resident or otherwise located in the United
States will not be eligible to register for participation in the Retail Offer
through PrimaryBid or subscribe for Retail Shares.

There is a minimum subscription of £250 per investor under the terms of the
Retail Offer which is open to existing shareholders and other investors
subscribing via the PrimaryBid mobile app. Aggregate demand under the Retail
Offer will be limited to EUR 8m (or the sterling equivalent), as is legally
required.

For further details please refer to the PrimaryBid website
at www.PrimaryBid.com. The terms and conditions on which the Retail Offer is
made, including the procedure for application and payment for Retail Shares,
is available to all persons who register with PrimaryBid.

Investors should make their own investigations into the merits of an
investment in the Company. Nothing in this announcement amounts to a
recommendation to invest in the Company or amounts to investment, taxation or
legal advice.

It should be noted that a subscription for Retail Shares and investment in the
Company carries a number of risks. Investors should consider the risk factors
set out on PrimaryBid.com before making a decision to subscribe for Retail
Shares. Investors should take independent advice from a person experienced in
advising on investment in securities such as the Retail Shares if they are in
any doubt.

This announcement should be read in its entirety. In particular, you should
read and understand the information provided in the "Important Notices"
section of this announcement.

 

Enquiries:

 

 Greatland Gold PLC                                   +44 (0)20 3709 4900

 Shaun Day                                            info@greatlandgold.com

                                                      www.greatlandgold.com

 SPARK Advisory Partners Limited (Nominated Adviser)  +44 (0)20 3368 3550

 Andrew Emmott/James Keeshan

 Primary Bid                                          enquiries@primarybid.com

 Charles Spencer/James Deal

 Luther Pendragon (Media and Investor Relations)      +44 (0)20 7618 9100

 Harry Chathli/Alexis Gore

 

IMPORTANT NOTICES

This Announcement has been issued by and is the sole responsibility of the
Company.

No action has been taken by the Company, PrimaryBid or any of their respective
affiliates, or any person acting on its or their behalf that would permit an
offer of the Retail Shares or possession or distribution of this Announcement
or any other offering or publicity material relating to such Retail Shares in
any jurisdiction where action for that purpose is required. Persons into whose
possession this Announcement comes are required by the Company to inform
themselves about, and to observe, such restrictions.

No prospectus will be made available in connection with the matters contained
in this Announcement and no such prospectus is required (in accordance with
the UK Prospectus Regulation) to be published.  Persons needing advice should
consult a qualified independent legal adviser, business adviser, financial
adviser or tax adviser for legal, financial, business or tax advice.

This Announcement and the information contained herein, is restricted and is
not for publication, release or distribution, directly or indirectly, in whole
or in part, in or into the United States of America, its territories and
possessions, any state of the United States or the district of Columbia
(collectively, the "United States"), Australia, Canada, Japan, the Republic of
South Africa or any other jurisdiction in which such publication, release or
distribution would be unlawful.  Further, this Announcement is for
information purposes only and is not an offer of securities in any
jurisdiction. This Announcement has not been approved by the London Stock
Exchange, nor is it intended that it will be so approved.

Persons distributing this Announcement must satisfy themselves that it is
lawful to do so. This Announcement is for information purposes only and shall
not constitute or form part of any offer to issue or sell, or the solicitation
of an offer to acquire, purchase or subscribe for, any securities in the
United States, Australia, Canada, Japan, the Republic of South Africa or any
other jurisdiction in which the same would be unlawful. Any failure to comply
with this restriction may constitute a violation of the securities laws of
such jurisdictions. No public offering of the Retail Shares is being made in
any such jurisdiction.

The Retail Shares have not been and will not be registered under the
Securities Act, or under the securities laws of any State or other
jurisdiction of the United States, and may not be offered, sold or resold,
directly or indirectly, in or into the United States except pursuant to an
exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act and in compliance with any applicable
securities laws of any State or any other jurisdiction of the United States.
The Retail Shares are being offered and sold only outside the United States in
offshore transactions as defined in, and pursuant to, Regulation S. All
potential subscribers to the Retail Shares (the "Subscribers") and all
prospective beneficial owners of the Retail Shares must, now and at the time
the Retail Shares are subscribed for, be outside the United States and
subscribing for the Retail Shares in an "offshore transaction" as defined in,
and in accordance with, Regulation S.

Certain statements contained in this Announcement constitute "forward-looking
statements" with respect to the financial condition, performance, strategic
initiatives, objectives, results of operations and business of the Company.
All statements other than statements of historical facts included in this
Announcement are, or may be deemed to be, forward-looking statements.
 Without limitation, any statements preceded or followed by or that include
the words ''targets'', ''plans'', ''believes'', ''expects'', ''aims'',
''intends'', ''anticipates'', ''estimates'', ''projects'', ''will'', ''may'',
"would", "could" or "should", or words or terms of similar substance or the
negative thereof, are forward-looking statements.  Forward-looking statements
include statements relating to the following: (i) future capital expenditures,
expenses, revenues, earnings, synergies, economic performance, indebtedness,
financial condition, dividend policy, losses and future prospects; and (ii)
business and management strategies and the expansion and growth of the
Company's operations. Such forward-looking statements involve risks and
uncertainties that could significantly affect expected results and are based
on certain key assumptions.  Many factors could cause actual results,
performance or achievements to differ materially from those projected or
implied in any forward-looking statements.  The important factors that could
cause the Company's actual results, performance or achievements to differ
materially from those in the forward-looking statements include, among others,
the macroeconomic and other impacts of the COVID-19 pandemic, economic and
business cycles, geopolitical developments, the terms and conditions of the
Company's financing arrangements, foreign currency rate fluctuations,
competition in the Company's principal markets, acquisitions or disposals of
businesses or assets and trends in the Company's principal industry.  Due to
such uncertainties and risks, you are cautioned not to place undue reliance on
such forward-looking statements, which speak only as of the date hereof. In
light of these risks, uncertainties and assumptions, the events described in
the forward-looking statements in this Announcement may not occur. The
forward-looking statements contained in this Announcement speak only as of the
date of this Announcement.  The Company, its Directors, their respective
affiliates and any person acting on their behalf each expressly disclaim any
obligation or undertaking to update or revise publicly any forward-looking
statements, whether as a result of new information, future events or
otherwise, unless required to do so by applicable law or regulation, the
Market Abuse Regulation, the rules of the London Stock Exchange or the FCA.

This Announcement does not constitute a recommendation concerning any
Subscriber's investment decision with respect to the Retail Offer. The price
of shares and any income expected from them may go down as well as up and
Subscribers may not get back the full amount invested upon disposal of the
shares. Past performance is no guide to future performance. The contents of
this Announcement are not to be construed as legal, business, financial or tax
advice. Each Subscriber or prospective Subscriber should consult his, her or
its own legal adviser, business adviser, financial adviser or tax adviser for
legal, financial, business or tax advice.

The Retail Shares to be issued or sold pursuant to the Retail Offer will not
be admitted to trading on any stock exchange other than the London Stock
Exchange.

Neither the content of the Company's website (or any other website) nor the
content of any website accessible from hyperlinks on the Company's website (or
any other website) is incorporated into or forms part of this Announcement.

This Announcement has been prepared for the purposes of complying with
applicable law and regulation in the United Kingdom and the information
disclosed may not be the same as that which would have been disclosed if this
Announcement had been prepared in accordance with the laws and regulations of
any jurisdiction outside the United Kingdom.

If you are in any doubt about the contents of this Announcement you should
consult your stockbroker, bank manager, solicitor, accountant or other
financial adviser.

The Company has taken all reasonable care to ensure that the facts stated in
this Announcement are true and accurate in all material respects, and that
there are no other facts the omission of which would make misleading any
statement in the document, whether of facts or of opinion. The Company accepts
responsibility accordingly.

It should be remembered that the price of securities and the income from them
can go down as well as up.

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