REG - Greatland Gold PLC - Result of Upsized Fundraise

Greatland GoldAnnouncement

19/11/2021 07:00

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RNS Number : 9484S  Greatland Gold PLC  19 November 2021

 

19 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 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")

Result of Upsized Fundraise

Further to the announcements on 18 November 2021 in relation to the Fundraise,
Greatland Gold plc (AIM:GGP), a mining development and exploration company
with a focus on precious and base metals, is pleased to announce the
successful completion of the Fundraise announced yesterday (the "Fundraise
Announcement").

Following strong demand in the bookbuild, the total gross proceeds from the
Fundraise has increased from the minimum amount of approximately US$10 million
to approximately US$16 million (£11.9 million). A total of 82,000,000 Placing
Shares, Subscription Shares and Retail Shares have been placed at an Issue
Price of 14.5p per New Ordinary Share. The Issue Price represents a discount
of approximately 10.5 per cent to the closing mid-market share price of the
Company's ordinary shares on 17 November 2021.

Berenberg and Canaccord acted as Joint Bookrunners and SI Capital acted as
Lead Manager in connection with the Placing.

Application will be made for the New Ordinary Shares to be admitted to trading
on the AIM market of the London Stock Exchange plc. It is expected that
Admission will become effective at commencement of trading on 24 November 2021
and settlement is expected to take place on the same date on a T+3 basis.

The Fundraise is conditional upon, inter alia, Admission becoming effective
and the Placing Agreement not being terminated in accordance with its terms.

Total voting rights

Following Admission of the Placing Shares, Subscription Shares and Retail
Offer Shares the total number of ordinary shares of the Company in issue will
be 4,046,547,171. The Company does not hold any ordinary shares in treasury.
Therefore the total number of voting rights in the Company will be
4,046,547,171 and this figure 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 in their interest in, the share capital
of the Company under the FCA's Disclosure Guidance and Transparency Rules.

 PDMR participation

The following directors and officers of the Company have agreed to participate
in the Subscription as follows:

 Director/PDMR     Number of existing ordinary shares  Number of Subscription Shares to be subscribed for  Number of ordinary shares held on Admission  Percentage of enlarged share capital on Admission (%)
 Shaun Day         0                                   375,000                                             375,000                                      0.009%
 Christopher Toon  0                                   110,000                                             110,000                                      0.003%

 

Other than where defined, capitalised terms used in this announcement have the
meanings given to them in the announcements of the Company dated 18 November
2021.

 

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

 Berenberg (Joint Bookrunner)                              +44 (0)20 3207 7800

 Matthew Armitt/ Varun Talwar/Alamgir Ahmed/Detlir Elezi

 Canaccord Genuity (Joint Bookrunner)                      +44 (0)20 7523 8000

 James Asensio/Patrick Dolaghan

 SI Capital Limited (Lead Manager)                         +44 (0)14 8341 3500

 Nick Emerson/Alan Gunn

 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 or any of their respective affiliates,
or any person acting on its or their behalf that would permit an offer of the
New Ordinary Shares or possession or distribution of this Announcement or any
other offering or publicity material relating to such New Ordinary 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 New Ordinary Shares is being
made in any such jurisdiction.

The New Ordinary 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 New Ordinary 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 New Ordinary Shares (the "Subscribers") and
all prospective beneficial owners of the New Ordinary Shares must, now and at
the time the New Ordinary Shares are subscribed for, be outside the United
States and subscribing for the New Ordinary 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.

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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