REG - Pathfinder Minerals - Update in relation to £1.275 million subscription

Pathfinder MineralsAnnouncement

04/04/2024 07:00

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RNS Number : 2366J  Pathfinder Minerals Plc  04 April 2024

4 April 2024

 

Pathfinder Minerals plc

("Pathfinder" or the "Company")

 

Update in relation to £1.275 million subscription

 

Pathfinder Minerals PLC (AIM: PFP), an AIM Rule 15 cash shell, announced on
22 December 2023 that Pathfinder has raised approximately £1.275 million
(before expenses) by way of a subscription of through the issue of 425,000,000
new ordinary shares of 0.1 pence each in the Company at 0.30 pence per new
Ordinary Share (the "Subscription"). Admission of the new Ordinary Shares to
trading on AIM took place on 27 December 2023.

 

As part of the Subscription, new Ordinary Shares were issued and allotted to a
certain participant in the Subscription (the "Subscriber"). Notwithstanding
settlement taking place on 27 December 2023, £60,000.00 is currently
outstanding from the Subscriber.

 

The Company has been in regular dialogue with the Subscriber and the Company
currently expects settlement in full on the basis of the assurances received
from the Subscriber. The Subscriber has reiterated his commitment to settling
his outstanding Subscription to the Company as soon as practicable. However,
there can be no guarantee that funds will be received from the Subscriber.

 

The Company will provide a further update as soon as practicable.

 

Enquiries:

Pathfinder Minerals Plc

Paul Barrett, Executive Director

Tel. +44 (0)20 3143 6748

 

Allenby Capital Limited (Nominated Adviser and Broker)

John Depasquale / Vivek Bhardwaj / Lauren Wright (Corporate Finance)

Stefano Aquilino / Joscelin Pinnington (Sales & Corporate Broking)

Tel. +44 (0)20 3328 5656

 

 

 

 

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