TIDMCAS

RNS Number : 4314C

Crusader Resources

01 October 2018

1 October 2018

Crusader Resources Limited

("Company" or "Crusader")

Suspension of Trading

Crusader Resources Limited (ASX:CAS, AIM:CAS) announced on 14 September 2018, in its interim results for the six months ended 30 June 2018, that notwithstanding the fact that the Directors were pursuing a number of both debt and equity funding options for the Company which are in various stages of negotiation, should the Directors not be successful in raising sufficient additional funding prior to 30 September 2018, there would be a material uncertainty whether the Group would be able to continue as a going concern.

At the request of the Company, trading of its securities on AIM will be suspended from 7:30 a.m. today pending clarification of its financial position and to enable it to consider various proposed capital raising initiatives to provide working capital and to enable the Company to continue with the development of its two gold projects in Brazil.

The Directors confirm that the Company remains in positive discussions with a number of providers of both debt and equity funding and are considering a number of proposals with regard to asset divestiture. However, no funding or disposal agreement has been concluded as yet.

A further announcement will be made, as appropriate, in due course.

For further information, please contact:

 
 Mr. Paul Stephen                    Investor Relations 
 Executive Director                  Office (Aus): +61 8 9320 7500 
 Office (Aus): +61 8 9320 7500       Email: admin@crusaderresources.com 
 Email: paul@crusaderresources.com 
 
 Smith & Williamson Corporate        Camarco 
  Finance Limited 
 Nominated Adviser                   Financial PR 
 Azhic Basirov / Katy Birkin         Gordon Poole / Nick Hennis 
  / Ben Jeynes                        / Monique Perks 
                                     +44(0)20 3757 4997 / +44(0)20 
 +44(0)207 131 4000                   3781 8330 
 
 Hannam & Partners                   Novum Securities 
 Joint Broker                        Joint Broker 
 Neil Passmore / Andrew Chubb        Jon Belliss / Colin Rowbury 
  / Ernie Bell 
 +44 (0)20 7907 8500                 +44 (0)20 7399 9425

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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