TIDMPAT
RNS Number : 0598Y
Panthera Resources PLC
02 May 2023
2 May 2023
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
originally announced on 29 March 2023 and more recently on 19 April
2023.
The Company previously announced that it expected that the
23,650,590 New Ordinary Shares will be admitted to trading on AIM
("Admission") on or around 26 April 2023. As a result of settlement
delays the Company has agreed to split Admission into two
tranches.
Accordingly, it is now anticipated that 21,725,590 New Ordinary
Shares (representing GBP 923,337.58 before expenses) (together the
"First Tranche") will admit to trading on AIM on or around 5 May
2023 ("First Admission"). The remaining 1,925,000 New Ordinary
Shares (representing GBP 81,812.50 before expenses) ("together the
"Second Tranche") will admit to trading on AIM on or around late
May 2023 ("Second Admission").
Issue of options
Pursuant to the terms of the equity financing, as announced by
the Company on 29 March 2023, subscribers will also receive one
option for every two Ordinary Shares subscribed for, exercisable at
a price of 6.68 pence on or before 10 December 2025 (the 'Option'),
with each Option entitling the holder to acquire one new Ordinary
Share upon exercise of the Option. Accordingly, in respect of the
First Tranche, 10,862,795 Options will be issued. In relation to
the Second Tranche, it is anticipated that 962,500 Options will be
issued.
In addition, the Company has issued 378,618 options to Novum
Securities Ltd in respect of fees pursuant to the equity financing,
exercisable at a price of 4.25 pence on or before 1 May 2025 , with
each option entitling the holder to acquire one new Ordinary Share
upon exercise of the Option.
All other terms of the equity financing, as otherwise outlined
in this announcement, remain unchanged from those terms as
originally announced by the Company on 29 March 2023.
Total voting rights
Upon First Admission, the Company's issued ordinary share
capital will consist of 152,579,671 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 152,579.671. 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.
Further announcements regarding the equity financing will be
made by the Company as and when appropriate.
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 29 March 2023.
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)
Kelly Gardiner / Stefano Aquilino (Sales & Corporate
Broking)
Novum Securities Limited (Joint Broker) +44 (0) 20 7399 9400
Colin Rowbury
Financial Public Relations
Vigo Consulting Ltd +44 (0)20 7390 0230
Oliver Clark / Chris McMahon
Subscribe for Regular Updates
Follow the Company on Twitter at @PantheraPLC
For more information and to subscribe to updates visit:
pantheraresources.com
UK Market Abuse Regulation (UK MAR) Disclosure
The information contained within this announcement is deemed by
the Company to constitute inside information for the purposes of
Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations
2019/310. Upon the publication of this announcement via a
Regulatory Information Service ("RIS"), this inside information is
now considered to be in the public domain.
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**
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END
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May 02, 2023 02:10 ET (06:10 GMT)
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