REG - Panthera Resources - Conversion Notice and Issue of Equity

Panthera ResourcesAnnouncement

03/02/2025 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250203:nRSC6258Va&default-theme=true

RNS Number : 6258V  Panthera Resources PLC  03 February 2025

3 February 2025

 

Panthera Resources Plc

("Panthera" or the "Company")

 

Conversion Notice and Issue of Equity

 

Gold exploration and development company Panthera Resources Plc (AIM: PAT),
with assets in West Africa and India, announces that it has received notice to
convert US$125,000 unsecured convertible loan notes and accrued interest
("CLNs" or "Notes"). Accordingly, the Company will issue 1,788,007 new
ordinary shares of 1 pence each in the Company (the "Ordinary Shares").

 

Details of the terms and conditions of the CLNs are outlined in the Company's
announcement released on 12 November 2024. Following conversion of the CLNs,
there are no CLNs outstanding.

 

Furthermore, the Company announces that the discussions with
the CLN participants, as detailed in the 12 November 2024 announcement,
remain ongoing and the exclusivity agreement has been extended by one month to
28 February 2025.

 

At this stage, save for exclusivity provisions contained in the exclusivity
agreement, discussions regarding the maximisation of value in relation to the
Company's West African gold assets remain at an early stage and are not
binding. Therefore, there can be no certainty as to the precise means of
implementing any such strategy, including but not limited to whether the
Company will separate its West African gold business to a new corporate
vehicle as well as the final binding terms and conditions of any such
proposal. It is anticipated that such terms and conditions will be determined
in forthcoming negotiations. Any such proposal is conditional on the proposal
not being deemed a fundamental change of business pursuant to Rule 15 of the
AIM Rules for Companies.

 

Admission to AIM

 

Application has been made to London Stock Exchange plc for the 1,788,007 new
Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected
that Admission will become effective and that dealings in the new Ordinary
Shares will commence on AIM at 8.00 a.m. on or around 6 February 2025.

 

Following Admission, the Company's issued share capital will comprise
199,889,254 Ordinary Shares. The Company does not hold any Ordinary Shares in
treasury. This figure may be used by shareholders in the Company as the
denominator for the calculations by which they will determine if they are
required to notify their interest in, or a change to their interest in, the
share capital of the Company under the Financial Conduct Authority's
Disclosure Guidance and Transparency Rules.

 

Contacts

 

Panthera Resources PLC

Mark Bolton (Managing
Director)
+61 411 220 942

 
contact@pantheraresources.com

 

Allenby Capital Limited (Nominated Adviser & Joint
Broker)             +44 (0) 20 3328 5656

John Depasquale / Vivek Bhardwaj (Corporate
Finance)

Guy McDougall / Kelly Gardiner

 

VSA Capital Limited (Joint
Broker)
+44 (0) 20 3005 5000

Andrew Monk / Andrew Raca

 

Novum Securities Limited (Joint
Broker)
+44 (0) 20 7399 9400

Colin
Rowbury

 

Subscribe for Regular Updates

 

Follow the Company on Twitter at @PantheraPLC

 

For more information and to subscribe to updates visit: pantheraresources.com

 

Forward-looking Statements

This news release contains forward-looking statements that are based on the
Company's current expectations and estimates. Forward-looking statements are
frequently characterised by words such as "plan", "expect", "project",
"intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other
similar words or statements that certain events or conditions "may" or "will"
occur. Such forward-looking statements involve known and unknown risks,
uncertainties and other factors that could cause actual events or results to
differ materially from estimated or anticipated events or results implied or
expressed in such forward-looking statements. Such factors include, among
others: the actual results of current exploration activities; conclusions of
economic evaluations; changes in project parameters as plans continue to be
refined; possible variations in ore grade or recovery rates; accidents, labour
disputes and other risks of the mining industry; delays in obtaining
governmental approvals or financing; and fluctuations in metal prices. There
may be other factors that cause actions, events or results not to be as
anticipated, estimated or intended. Any forward-looking statement speaks only
as of the date on which it is made and, except as may be required by
applicable securities laws, the Company disclaims any intent or obligation to
update any forward-looking statement, whether as a result of new information,
future events or results or otherwise. Forward-looking statements are not
guarantees of future performance and accordingly, undue reliance should not be
put on such statements due to the inherent uncertainty therein.

 

**ENDS**

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  IOEGZGGZVFVGKZG