27 June 2024
Panthera Resources Plc
("Panthera" or the
"Company")
Equity Financing
Update
Gold exploration and development company
Panthera Resources Plc (AIM: PAT), with assets in West Africa and
India, provides the following update in respect of the Company's
equity financing as announced on 17 June 2024 (the "Equity Financing").
The Company previously announced that it
expected that the 18,906,786 new Ordinary Shares will be
admitted to trading on AIM on or around 28 June 2024.
Subsequently, commitments have been adjusted
with an increase of 76,798 new Ordinary Shares on the same terms as
that announced on 17 June 2024. Accordingly, in aggregate,
18,983,584 new Ordinary Shares are
anticipated to be issued as part of the Equity
Financing.
Split
admission
While the Company has received commitments in
relation to 18,983,584 new
Ordinary Shares pursuant to the Equity Financing, because of
settlement delays associated with 1,818,182 new Ordinary Shares,
the Company will complete the admission into two
tranches.
Accordingly, it is now anticipated that
17,165,402 new Ordinary Shares representing
approximately £0.94 million (the "First Tranche") will admit to trading
on AIM on or around 28 June 2024 ("First Admission"). The remaining
1,818,182 new Ordinary Shares representing approximately £0.1
million (the "Second
Tranche") will admit
to trading on AIM on or around 3 July 2024 ("Second Admission").
Broker
Options
In addition, the Company has agreed to issue an
additional 217,197 unlisted certificated options to advisors to the
equity issue, exercisable at a price of 5.5 pence on or before two
years from the date of Admission (as defined below) with each
option entitling the holder to acquire one new Ordinary Share.
Accordingly, taking into account the 758,181 unlisted certificated
options announced on 17 June 2024, a total of 975,378 unlisted
certificated options will be issued as part of the Equity
Financing.
Admission and
Total Voting Rights
Application has been made to the London Stock
Exchange plc for the 17,165,402
new Ordinary Shares to be admitted to trading on AIM. It is
currently anticipated that First Admission will become effective
and that dealings in the new Ordinary Shares will commence on AIM
at 8.00 a.m. on or around 28 June 2024.
Upon First Admission of
the 17,165,402 new
Ordinary Shares, the Company's issued ordinary share capital will
consist of 193,288,942 Ordinary
Shares with one voting right each. The Company does not hold any
Ordinary Shares in treasury. Therefore, the total number of
Ordinary Shares and voting rights in the Company will be
193,288,942. With effect from First 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 Company under the FCA's Disclosure Guidance and
Transparency Rules.
Unless
otherwise defined herein, the capitalised defined terms used in
this announcement have the same meaning as those used in the
Company's announcement on 17 June 2024.
Contacts
Panthera
Resources PLC
Mark Bolton (Managing
Director)
+61 411 220 942
contact@pantheraresources.com
Allenby Capital
Limited (Nominated Adviser & Joint
Broker)
+44 (0) 20 3328 5656
John Depasquale / Vivek Bhardwaj (Corporate
Finance)
Guy McDougall / Kelly Gardiner
Novum
Securities Limited (Joint
Broker)
+44 (0) 20 7399 9400
Colin Rowbury
VSA
Capital (Joint Broker to the Equity
Financing)
+44 (0) 20 3005 5000
Andrew Monk / Peter Mattsson
(Corporate Broking)
Andrew Raca / Thomas Jackson
(Corporate Finance)
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visit: pantheraresources.com
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.
**ENDS**
