REG - Panthera Resources - Equity Financing Update

Panthera ResourcesAnnouncement

04/07/2023 07:00

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RNS Number : 8477E  Panthera Resources PLC  04 July 2023

4 July 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.

 

Most recently, on 5 June 2023, the Company announced, amongst other matters,
that admission of the second tranche of new ordinary shares of 1 pence each in
the Company (the "New Ordinary Shares") is anticipated to occur on or around
late June 2023.

 

The Company is pleased to now confirm that 1,929,412 New Ordinary Shares
(previously 1,925,000 New Ordinary Shares) representing £82,000.01 before
expenses (previously £81,812.50 before expenses) (together the "Second
Tranche") is anticipated to be admited to trading on AIM on or around 7 July
2023 ("Second Admission").

 

Equity financing summary

 

As part of the equity capital fundraising, 21,725,590 New Ordinary Shares
(representing £923,337.58 before expenses) (together the "First Tranche")
admitted to trading on AIM on 5 May 2023 ("First Admission"). Accordingly,
subject to and following Second Admission, a total of £1,005,337.59 before
expenses will have been raised through the issue of 23,655,002 New Ordinary
Shares pursuant to the equity capital fundraising as originally announced on
29 March 2023.

 

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 warrant for every two
Ordinary Shares subscribed for, exercisable at a price of 6.68 pence on or
before 10 December 2025 (the "Warrant"), with each Warrant entitling the
holder to acquire one new Ordinary Share upon exercise of the
Warrant. Accordingly, in respect of the Second Tranche, 964,706 Warrants will
be issued.

 

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.

 

Second Admission and Total voting rights

 

Application will be made to the London Stock Exchange plc ("LSE") for the
1,929,412 New Ordinary Shares to be admitted to trading on AIM, which is
expected to occur on or around 7 July 2023.

 

Upon Second Admission, the Company's issued ordinary share capital will
consist of 154,509,083 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 154,509,083. With
effect from Second 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.

 

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

 

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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