REG - Panthera Resources - Equity Issue Update

Panthera ResourcesAnnouncement

25/11/2021 12:05

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RNS Number : 6236T  Panthera Resources PLC  25 November 2021

25 November 2021

 

Panthera Resources Plc

("Panthera" or "the Company")

 

Equity Issue Update

 

Panthera Resources plc (AIM: PAT), the gold exploration and development
company with assets in India and West Africa, advises that it has issued
3,464,000 new ordinary shares ("Shares").

 

On 29 October and 11 November 2021, the Company announced that it had arranged
an equity capital raising of 10,000,000 shares at £0.10 for proceeds of
£1,000,000 (the "Placing).  Pursuant to the Placing, the Company has issued
the final tranche for £346,400 in proceeds.

 

Furthermore, the Company advises that it has issued 132,000 options
exercisable at £0.10 on or before 24 November 2023 under broking arrangements
for the Placing.

 

The proceeds for the placing will be applied to the MMI acquisition and an
expanded drilling programme at Bassala planned to commence on or about the end
of November 2021.  The expanded drilling programme will concentrate on the
targets where the Company received encouraging assay results in the last
quarter including:

10m @ 3.45g/t Au from 60m incl. 5m @ 6.59g/t Au from 60m

20m @ 2.12g/t Au from 10m incl. 10m @ 3.79g/t Au from 20m

25m @ 1.00g/t Au from 20m incl. 5m @ 3.18g/t Au from 20m

 

Application for Admission

 

Application will be made to the London Stock Exchange for 3,464,000 new
ordinary Panthera shares issued in respect of the Placing to be admitted to
trading on the AIM market with admission expected to occur on or around 30
November 2021 (Admission).   The issued new ordinary Panthera shares will
rank pari passu in all respects with the existing ordinary Panthera shares.

 

Following the Admission of the new Shares, the issued ordinary share capital
of Panthera will consist of 104,416,258 Shares.

 

For the purposes of the Financial Conduct Authority's Disclosure and
Transparency Rules ("DTRs"), the issued ordinary share capital of Panthera
following the allotment of the Shares consists of  104,416,258 ordinary
shares of 1 pence each,  with voting rights attached (one vote per share).
There are no shares held in treasury. This total voting rights figure may be
used by shareholders as the denominator for the calculation by which they will
determine whether they are required to notify their interest in, or a change
to their interest in, Panthera under the DTRs. Admission of the Shares is
expected to become effective and dealings to commence at 8.00 am on 30
November 2021.

 

Contacts

 

Panthera Resources PLC

Mark Bolton (Managing
Director)
        +61 411 220 942

 
 
                               contact@pantheraresources.com

 

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

John Depasquale / Vivek Bhardwaj (Corporate
Finance)

 

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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