REG - Panthera Resources - Equity Financing Update

Panthera ResourcesAnnouncement

02/05/2023 07:15

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RNS Number : 0598Y  Panthera Resources PLC  02 May 2023

2 May 2023

 

Panthera Resources Plc

("Panthera" or "the Company")

 

Equity Financing Update

 

Gold exploration and development company Panthera Resources Plc (AIM: PAT),
with assets in West Africa and India provides the following update in respect
of the Company's equity financing as originally announced on 29 March 2023 and
more recently on 19 April 2023.

 

The Company previously announced that it expected that the 23,650,590 New
Ordinary Shares will be admitted to trading on AIM ("Admission") on or around
26 April 2023. As a result of settlement delays the Company has agreed to
split Admission into two tranches.

 

Accordingly, it is now anticipated that 21,725,590 New Ordinary Shares
(representing £923,337.58  before expenses) (together the "First Tranche")
will admit to trading on AIM on or around 5 May 2023 ("First Admission"). The
remaining 1,925,000 New Ordinary Shares (representing £81,812.50 before
expenses) ("together the "Second Tranche") will admit to trading on AIM on or
around late May 2023 ("Second Admission").

 

Issue of options

 

Pursuant to the terms of the equity financing, as announced by the Company on
29 March 2023, subscribers will also receive one option for every two Ordinary
Shares subscribed for, exercisable at a price of 6.68 pence on or before 10
December 2025 (the 'Option'), with each Option entitling the holder to acquire
one new Ordinary Share upon exercise of the Option. Accordingly, in respect
of the First Tranche, 10,862,795 Options will be issued. In relation to the
Second Tranche, it is anticipated that 962,500 Options will be issued.

 

In addition, the Company has issued 378,618 options to Novum Securities Ltd in
respect of fees pursuant to the equity financing, exercisable at a price of
4.25 pence on or before 1 May 2025, with each option entitling the holder to
acquire one new Ordinary Share upon exercise of the Option.

 

All other terms of the equity financing, as otherwise outlined in this
announcement, remain unchanged from those terms as originally announced by the
Company on 29 March 2023.

 

Total voting rights

 

Upon First Admission, the Company's issued ordinary share capital will consist
of 152,579,671 ordinary Shares with one voting right each. The Company does
not hold any ordinary Shares in treasury. Therefore, the total number of
ordinary Shares and voting rights in the Company will be 152,579.671. With
effect from First Admission, 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 Company under the FCA's Disclosure Guidance and Transparency
Rules.

 

Further announcements regarding the equity financing will be made by the
Company as and when appropriate.

 

Unless otherwise defined herein, the capitalised defined terms used in this
announcement have the same meaning as those used in the Company's announcement
on 29 March 2023.

 

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)

Kelly Gardiner / Stefano Aquilino (Sales & Corporate Broking)

 

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

Colin
Rowbury

 

Financial Public Relations

Vigo Consulting
Ltd
+44 (0)20 7390 0230

Oliver Clark / Chris McMahon

 

Subscribe for Regular Updates

 

Follow the Company on Twitter at @PantheraPLC
(https://twitter.com/PantheraPlc)

 

For more information and to subscribe to updates visit: pantheraresources.com
(http://pantheraresources.com)

 

UK Market Abuse Regulation (UK MAR) Disclosure

The information contained within this announcement is deemed by the Company to
constitute inside information for the purposes of Regulation 11 of the Market
Abuse (Amendment) (EU Exit) Regulations 2019/310. Upon the publication of this
announcement via a Regulatory Information Service ("RIS"), this inside
information is now considered to be in the public domain.

 

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**

 

 

 

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