Panther Metals PLC Issue of Equity (6485M)
22 September 2021 - 11:43PM
UK Regulatory
TIDMPALM
RNS Number : 6485M
Panther Metals PLC
22 September 2021
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY IN OR INTO AUSTRALIA, CANADA, JAPAN,
THE REPUBLIC OF SOUTH AFRICA, THE UNITED STATES OR ANY OTHER
JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE
RELEVANT LAWS OF SUCH JURISDICTION.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC UK
LAW PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIIONS
(SI 2019/310) ("UK MAR"). UPON THE PUBLICATION OF THIS
ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK MAR) IS NOW
CONSIDERED TO BE IN THE PUBLIC DOMAIN.
FOR IMMEDIATE RELEASE
PANTHER METALS PLC
("Panther" or the "Company")
(Incorporated in the Isle of Man with company number
009753V)
22(nd) September 2021
Placing to raise GBP630,000
Panther Metals plc (LSE:PALM) the company focused on mineral
exploration in Canada and Australia, is pleased to announce the
completion of a capital raise for a total of 5,250,000 ordinary
shares of no par value (the "Placing Shares"), raising
GBP630,000.00 before expenses, at a price of 12p per Placing Share
(the "Placing Price"). Each Placing Share with be issued with a
one-for-one warrant attached. The warrants have an exercise price
of 18p and a 24 month life. The warrants are subject to an
accelerator, shortening the exercise period, if the volume weighted
overage price of the Company's shares exceeds 30p for five
consecutive trading days.
The Placing Price of 12 pence per share represents a discount of
7.7% to the middle market price at the close of the market on the
21(st) September, the date and time at which the Placing Price was
agreed. This represents parity with the last fund raising completed
by the Company and announced on the 21(st) April 2021.
The Placing was conducted on behalf of the Company by SI Capital
Limited.
When issued, the Placing Shares will be credited as fully paid
and will rank pari passu in all respects with the existing ordinary
shares in the share capital of the Company, including the right to
receive all dividends and other distributions declared, made or
paid on or in respect of such shares after the date of issue of the
Placing Shares.
Application has been made to the Financial Conduct Authority
("FCA") for admission of the Placing Shares to the standard listing
segment of the Official List and to the London Stock Exchange (the
"LSE") for admission to trading of the Placing Shares on the LSE's
Main Market for listed securities (together "Admission"). It is
expected that Admission will take place at 8.00am on 29 September
2021 and that dealings in the Placing Shares on the LSE's main
market for listed securities will commence at the same time.
Total Voting Rights
Following Admission, the Company's total issued share capital
consists of 66,841,339 Ordinary Shares. The Company does not hold
any Ordinary Shares in treasury.
Therefore, following Admission, the total number of voting
rights in Panther Metals plc is 66,841,339. 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 in their interest in, the Company under the FCA's
Disclosure Guidance and Transparency Rules.
Darren Hazelwood, Chief Executive Officer, commented:
"As we work towards the commencement of two drill programmes in
Ontario, Canada: Dotted Lake on the Hemlo-Schreiber greenstone
belt; and the Wishbone VMS target on the Obonga greenstone belt,
this raise provides us with the capital required to proceed exactly
as planned during this autumn. As we advance the business, the
exploration processes required to make a discovery are now fully
underway.
It is widely reported that the lack of access has been a
contributory factor in the low levels of previous exploration
carried out on the Obonga greenstone belt to date. Obonga has all
the geological ingredients to host a commercially viable discovery,
as illustrated by similar greenstone belts within the vicinity. As
a result of this new capital injection we can now advance our plans
to install a trail across Obonga giving us unparalleled exploration
access."
For the purposes of UK MAR, the person responsible for arranging
for the release of this announcement on behalf of Panther is Darren
Hazelwood, Chief Executive Officer.
Panther Metals PLC:
Darren Hazelwood, Chief Executive Officer: +44(0) 1462 429 743
+44(0) 7971 957 685
Mitchell Smith, Chief Operating Officer: +1(604) 209 6678
Broker:
SI Capital Limited
Nick Emerson +44(0) 1438 416 500
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END
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