REG - Wishbone Gold PLC - Fundraise of 1.75 million and TVR

Wishbone GoldAnnouncement

11/06/2025 12:00

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RNS Number : 4244M  Wishbone Gold PLC  11 June 2025

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of MAR

 

 

 

 

11 June 2025

 

Wishbone Gold Plc

("Wishbone" or the "Company")

London AIM & Aquis: WSBN

 

Fundraise of £1.75 million and Total Voting Rights

 

Wishbone Gold Plc is pleased to announce it has raised gross proceeds of
£1,750,000 at a placing price of 0.13 pence per share ("Placing Price")
through the issue of 1,346,153,846 new Ordinary Shares of 0.1 pence par value
each (the "New Ordinary Shares"). Global Investment Strategy UK Limited acted
as broker to the placing and raised gross proceeds of £850,000; an additional
£600,000 was placed directly with institutional and other shareholders of the
Company and £300,000 has agreed to be subscribed by Group Directors ("Related
Party Transaction") immediately following the publication of the Company's
December 2024 Accounts which are expected shortly (together the "Fundraise").

 

The proceeds of the Fundraise will provide additional working capital towards
its gold exploration activities in Australia, spearheaded by the Company's
plans to drill the deeper holes into the Red Setter Gold Dome target, as
previously announced. This additional funding will provide the extra capital
to continue drilling at Red Setter should the main gold targets be identified.

 

Application is being made for the New Ordinary Shares, which will rank pari
passu with the existing Ordinary Shares on issue, to be admitted to trading on
the AIM and AQSE markets ("Admission"). Dealings in respect of 1,115,384,616
New Ordinary Shares are expected to commence on or about 17 June 2025 and the
issue is subject only to Admission. The dealing date and PDMR dealing forms in
respect of 230,769,230 New Ordinary Shares in respect of the Related Party
Transaction will be subject to a further announcement in due course.

 

Related Party Transaction

 

Messrs. Richard Poulden and Jack Sun, Directors of the Company and Edward
Mead, director of a Group company, who are Related Parties under the AIM Rules
have agreed immediately following the publication of the Company's December
2024 Accounts to subscribe equally for a total of 230,769,230 New Ordinary
Shares at the Placing Price. Accordingly, this is a Related Party Transaction
under AIM Rule 13.

 

The Directors, other than, Messrs. Poulden and Sun, consider, having consulted
with the Company's Nominated Adviser, that the terms of the transaction are
fair and reasonable insofar as the Company's Shareholders are concerned.

 

Total Voting Rights ("TVR")

 

The Company's total issued and voting share capital up Admission will consist
of 2,364,124,923 Ordinary Shares. This figure may be used by shareholders 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,
securities of the Company. A further TVR notification will be issued following
the admission to trading of the 230,769,230 New Ordinary Shares in relation to
the Related Party Transaction.

 

For more information on Wishbone, please visit the Company's website.

www.wishbonegold.com (http://www.wishbonegold.com) .

 

END

For further information, please contact:

 Wishbone Gold PLC

 Richard Poulden, Chairman                                 Tel: +971 4 584 6284

 Beaumont Cornish Limited
 (Nominated Adviser and AQUIS Exchange Corporate Adviser)
 Roland Cornish/Rosalind Hill Abrahams                     Tel: +44 20 7628 3396

Nominated Adviser Statement

 

Beaumont Cornish Limited ("Beaumont Cornish"), which is authorised and
regulated in the United Kingdom by the Financial Conduct Authority, is acting
as nominated adviser to the Company in connection with this announcement and
will not regard any other person as its client and will not be responsible to
anyone else for providing the protections afforded to the clients of Beaumont
Cornish or for providing advice in relation to such proposals. Beaumont
Cornish has not authorised the contents of, or any part of, this document and
no liability whatsoever is accepted by Beaumont Cornish for the accuracy of
any information, or opinions contained in this document or for the omission of
any information. Beaumont Cornish as nominated adviser to the Company owes
certain responsibilities to the London Stock Exchange which are not owed to
the Company, the Directors, Shareholders, or any other person.

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