Capitalised terms used but not otherwise defined in this
announcement bear the meanings ascribed to them in the Company's
announcement of 10 April 2024 entitled "Conditional Fundraising and
Notice of AGM" unless otherwise defined herein.
23
May 2024
GOLDSTONE RESOURCES
LIMITED
("GoldStone" or the
"Company")
Completion of Fundraising
and
Lifting of Suspension in
Trading
GoldStone Resources Limited (AIM:
GRL) is pleased to announce, further to its
announcement of 21 May 2024, that the Company has now received all
funds in respect of its subscription to raise total gross proceeds
of £834,000 (the "Fundraise"). Accordingly, the Company
will issue 83,400,000 Subscription Shares, 52,800,000 Conversion
Shares, 14,090,000 Director Fee Conversion Shares and 7,500,000
Adviser Fee Shares (the "New
Ordinary Shares").
Lifting of Suspension in Trading
As a result of, inter alia, completion of the Fundraise, and
following publication of the Accounts on 10 April 2024, trading in
the Company's Ordinary Shares on AIM is expected to be restored
with effect from 7.30 a.m. on 24 May 2024.
Admission and Total Voting Rights
Application has been made to the
London Stock Exchange for the New Ordinary Shares
to be admitted to trading on AIM ("Admission"). It is expected that
Admission will become effective and that dealings in the New
Ordinary Shares will commence at 8.00 a.m. on 24 May 2024. The New
Ordinary Shares will be issued as fully paid and will rank
pari passu in all
respects with the Company's existing Ordinary Shares.
Upon Admission, the Company's issued
ordinary share capital will consist of 656,303,333 Ordinary
Shares with one voting right each (the "Enlarged Share Capital"). The Company
does not hold any Ordinary Shares in treasury. Therefore, the total
number of Ordinary Shares and voting rights in the Company
following Admission will be 656,303,333. With effect from
Admission, this figure may be used by shareholders in the Company
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, the share capital of the Company under
the FCA's Disclosure Guidance and Transparency Rules.
For
further information, please contact:
|
GoldStone Resources Limited
|
|
|
Emma Priestley
|
Tel: +44 (0)1534 487 757
|
|
Strand Hanson Limited
|
|
|
James Dance / James
Bellman
|
Tel: +44 (0)20 7409 3494
|
|
S.
P. Angel Corporate Finance LLP
|
|
|
Ewan Leggat / Charlie
Bouverat
|
Tel: +44 (0)20 3470
0501
|
|
St
Brides Partners Ltd
Susie Geliher
|
Tel: +44 (0)20 7236 1177
|
|
|
|
About GoldStone Resources Limited
GoldStone Resources Limited (AIM:
GRL) is an AIM quoted mining and development company with projects
in Ghana that range from grassroots exploration to
production.
The Company is focused on developing
the Akrokeri-Homase project in south-western Ghana, which hosts a
JORC Code compliant 602,000oz gold resource at an average grade of
1.77 g/t. The existing resource is confined to a 4km zone of
the Homase Trend, including Homase North, Homase Pit and Homase
South.
The project hosts two former mines,
the Akrokerri Ashanti Mine Ltd, which produced 75,000 oz gold at 24
g/t recovered grade in the early 1900s, and the Homase Pit which
AngloGold Ashanti developed in 2002/03 producing 52,000 oz gold at
2.5 g/t recovered. Production is currently focussed on the
Homase Mine however it is the Company's intention to build a
portfolio of high-quality gold projects in Ghana, with a particular
focus on the highly prospective Ashanti Gold Belt.