REG - Panthera Resources - Issue of Equity

Panthera ResourcesAnnouncement

11/11/2021 07:00

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RNS Number : 0690S  Panthera Resources PLC  11 November 2021

11 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
7,031,870 new ordinary shares ("Shares").

 

Equity Capital Raising

 

On 29 October 2021, the Company announced that it has arranged an equity
capital raising of £780,000 at 10 pence per share ("the Placing).  Pursuant
to the Placing, the Company has issued 6,536,000 shares for £653,600 in
proceeds.

 

Furthermore, the Company advises that the capital raising has been expanded
from £780,000 to £1,000,000 on the same terms and conditions. 132,000
options (£0.10 expercise price, two year expiry) will be granted pursuant to
broking arrangements for the capital raise. The settlement of the remaining
balance of the Placing (£126,400) together with the additional £220,000 is
expected on or about 19 November 2021.

 

The additional proceeds will fund an expanded drilling programme at Bassala,
planned to commence later this month.  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

 

Exercise of Warrants and Directors' Dealings

 

The Company announces that it has issued a total of 495,870 new Shares to
entities associated with directors of the Company, Michael Higgins and Timothy
Hargreaves, following their conversion of a total of 495,870 warrants at an
exercise price of 6.68 pence per warrant for total gross proceeds of
£33,124.

 

Following the issue of Shares in respect of the exercise of warrants, Mr
Higgins has an interest in  8,125,923 Shares, representing an interest of
8.30% in the issued capital of the Company, and Mr Hargreaves has an interest
in  2,192,410  Shares, representing an interest of 2.24% in the issued
capital of the Company.

 

The FCA PDMR notifications, made in accordance with the requirements of the EU
Market Abuse Regulation, are set out below.

 

Application for Admission

 

Application will be made to the London Stock Exchange for 6,536,000 new
ordinary Panthera shares issued in respect of the Placing and 495,870 new
ordinary Panthera shares issued in respect of the exercise of warrants, to be
admitted to trading on the AIM market with admission expected to occur on or
around 17 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 97,908,209 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  97,908,209 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 17
November 2021.

 

AIM Rule 17 - Disclosure

Further to the Company's announcement on 29 January 2021, Elk Petroleum
Limited, a company that Tim Hargreaves, Non-Executive Director of the Company,
is a director to has now commenced liqudation.

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.

 

ANNEXURES

 

 1   Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name:                                                         Michael Higgins
 b)  Position/Status:                                              Chairman
 c)  Initial notification/ Amendment:                              Initial notification
 2   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction
     monitor
 a)  Name:                                                         Panthera Resources Plc
 b)  LEI:                                                          213800IB98EG6736XN82
 3   Details of the transaction(s): section to be repeated for (i) each type of
     instrument; (ii) each type of transaction; (iii) each date; and (iv) each
     place where transactions have been conducted
 a)  Description of the financial instrument, type of instrument:  Ordinary shares of £0.01 each

     Identification code:

                                                                   GB00BD2B4L05
 b)  Nature of the transaction:                                    Exercise of warrants
 c)  Price(s) and Volume(s):                                       Price(s)  Volume(s)

                                                             £0.0668   70,500
                                                                   £0.0668   282,000

 d)  Aggregated Information:

     - Aggregated Volume

     - Price                                                       352,500 Shares

                                                                   £0.0668
 e)  Date of the transaction:                                      11 November 2021
 f)  Place of the transaction:                                     AIM, London Stock Exchange

d)

Aggregated Information:

- Aggregated Volume

- Price

 

 

352,500 Shares

£0.0668

e)

Date of the transaction:

11 November 2021

f)

Place of the transaction:

AIM, London Stock Exchange

 

 

 1   Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name:                                                         Timothy Hargreaves
 b)  Position/Status:                                              Non-executive director
 c)  Initial notification/ Amendment:                              Initial notification
 2   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction
     monitor
 a)  Name:                                                         Panthera Resources Plc
 b)  LEI:                                                          213800IB98EG6736XN82
 3   Details of the transaction(s): section to be repeated for (i) each type of
     instrument; (ii) each type of transaction; (iii) each date; and (iv) each
     place where transactions have been conducted
 a)  Description of the financial instrument, type of instrument:  Ordinary shares of £0.01 each

     Identification code:

                                                                   GB00BD2B4L05
 b)  Nature of the transaction:                                    Shares issued in lieu of director fees
 c)  Price(s) and Volume(s):                                       Price(s)  Volume(s)

                                                             £0.0668   143,370

 d)  Aggregated Information:

     - Aggregated Volume

     - Price                                                       143,370 Shares

                                                                   £0.0668
 e)  Date of the transaction:                                      11 November 2021
 f)  Place of the transaction:                                     AIM, London Stock Exchange

d)

Aggregated Information:

- Aggregated Volume

- Price

 

 

143,370 Shares

£0.0668

e)

Date of the transaction:

11 November 2021

f)

Place of the transaction:

AIM, London Stock Exchange

 

 

**ENDS**

 

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