REG - Panthera Resources - Equity Financing Update

Panthera ResourcesAnnouncement

27/06/2024 15:45

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RNS Number : 2176U  Panthera Resources PLC  27 June 2024

27 June 2024

 

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 announced on 17 June 2024 (the "Equity
Financing").

 

The Company previously announced that it expected that the 18,906,786 new
Ordinary Shares will be admitted to trading on AIM on or around 28 June 2024.

 

Subsequently, commitments have been adjusted with an increase of 76,798 new
Ordinary Shares on the same terms as that announced on 17 June 2024.
Accordingly, in aggregate, 18,983,584 new Ordinary Shares are anticipated to
be issued as part of the Equity Financing.

 

Split admission

 

While the Company has received commitments in relation to 18,983,584 new
Ordinary Shares pursuant to the Equity Financing, because of settlement delays
associated with 1,818,182 new Ordinary Shares, the Company will complete the
admission into two tranches.

 

Accordingly, it is now anticipated that 17,165,402 new Ordinary Shares
representing approximately £0.94 million (the "First Tranche") will admit to
trading on AIM on or around 28 June 2024 ("First Admission"). The remaining
1,818,182 new Ordinary Shares representing approximately £0.1 million (the
"Second Tranche") will admit to trading on AIM on or around 3 July 2024
("Second Admission").

 

Broker Options

 

In addition, the Company has agreed to issue an additional 217,197 unlisted
certificated options to advisors to the equity issue, exercisable at a price
of 5.5 pence on or before two years from the date of Admission (as defined
below) with each option entitling the holder to acquire one new Ordinary
Share. Accordingly, taking into account the 758,181 unlisted certificated
options announced on 17 June 2024, a total of 975,378 unlisted certificated
options will be issued as part of the Equity Financing.

 

Admission and Total Voting Rights

 

Application has been made to the London Stock Exchange plc for the 17,165,402
new Ordinary Shares to be admitted to trading on AIM. It is currently
anticipated that First Admission will become effective and that dealings in
the new Ordinary Shares will commence on AIM at 8.00 a.m. on or
around 28 June 2024.

 

Upon First Admission of the 17,165,402 new Ordinary Shares, the Company's
issued ordinary share capital will consist of 193,288,942 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 193,288,942. 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.

 

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 17 June 2024.

 

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

 

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

Colin Rowbury

 

VSA Capital (Joint Broker to the Equity
Financing)
+44 (0) 20 3005 5000

Andrew Monk / Peter Mattsson (Corporate Broking)

Andrew Raca / Thomas Jackson (Corporate Finance)

 

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)

 

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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