Wishbone Gold PLC Placing to Fund Exploration and Drilling (1972I)
10 Diciembre 2020 - 01:00AM
UK Regulatory
TIDMWSBN
RNS Number : 1972I
Wishbone Gold PLC
10 December 2020
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation
(EU) No. 596/2014 ("MAR")
10 December 2020
Wishbone Gold Plc
("Wishbone" or the "Company")
Wishbone Gold Plc / Index: AIM: WSBN / Sector: Natural Resources
/ AQSE: WSBN
Placing to Fund Exploration and Drilling at Red Setter Project -
Australia
Total Voting Rights
Wishbone Gold Plc (AIM: WSBN, AQSE: WSBN), the London listed
precious metals trading and exploration company, is issuing a total
of 17,500,000 new ordinary shares of 0.1 pence each (the "Ordinary
Shares") at a price of 10 pence per share through a private
placement made by the Company to a series of investors ("Placing")
to raise a total of GBP1,750,000 gross.
Richard Poulden, the Company's Chairman, stated;
"This placing provides the Company with strong cash reserves to
push forward with exploration on the new Red Setter Project in the
Patersons Ranges near Telfer in Western Australia. It will also
allow us to extend the exploration efforts in Queensland to include
the newly applied for Wishbone 6 EPMA, which adjoins Wishbone's
other leases just north-west of the Ravenswood Gold Mine".
"The third party analysis on Red Setter has already identified 4
clear magnetic targets over a strike length of around 2.4 kms and
work currently being undertaken will provide drill targets for the
first quarter of next year. One of the attractive aspects of Red
Setter is the relatively shallow depth of the main prospects at 150
- 250 metres below the surface."
Pursuant to the Placing, the Company will also grant Investors a
warrant to subscribe 1 New Ordinary Share in the capital of the
Company for every two shares subscribed in the placing exercisable
for a period of two (2) years from Admission of the Placing shares
at a price of 12 pence per ordinary share.
The warrants have an accelerator clause whereby in the event
that the ordinary shares of the Company close above 16p per share
for 5 trading days during any ten day trading period then the
Company has the right to require warrant holders to exercise all
warrants held by them within 7 days. Any warrants not exercised
when so required by the Company will automatically expire at the
end of the 7 day period.
Application will be made for the new Ordinary Shares, which will
rank pari passu with the existing Ordinary Shares in issue, to be
admitted to trading on AIM and the AQSE Growth Market
("Admission"). Dealings are expected to commence on or about 16
December 2020 and the issue is subject only to Admission.
The Company's total issued and voting share capital upon
admission of the new Ordinary Shares will consist of 149,969,321
Ordinary Shares. 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 to their
interest in, securities of the Company.
For more information on Wishbone, please visit the Company's
website.
www.wishbonegold.com .
For further information, please contact:
Wishbone Gold PLC
Richard Poulden, Chairman Tel: +971 45 846 284
Beaumont Cornish Limited
(Nominated Adviser and AQUIS Exchange
Corporate Adviser)
Roland Cornish/Rosalind Hill Abrahams Tel: +44 20 7628 3396
Peterhouse Capital Limited
(Broker)
Lucy Williams and Duncan Vasey Tel: +44 20 7469 0930
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END
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