Further to its announcement on November 29, 2021 concerning the
oversubscribed placing of securities to be listed on the Victoria
Falls Stock Exchange in Zimbabwe (“VFEX”), Caledonia Mining
Corporation Plc (NYSE AMERICAN: CMCL; AIM: CMCL) (“Caledonia” or
the “Company”) announces that it has now issued and allotted
619,783 shares of no par value each against which the same number
of depositary receipts have been issued to Zimbabwe investors.
The issue of depositary receipts has raised
gross proceeds for the Company of approximately US$7.83m. Listing
of the depositary receipts on the VFEX is expected to occur today
with trading also commencing today.
The Company now has a total number of shares in
issue of 12,756,606 common shares of no par value each. Caledonia
has no shares in treasury; therefore, this figure may be used by
holders as the denominator for the calculations by which they
determine if they are required to notify their interest in, or a
change to their interest in, the Company. Application has been made
to AIM for admission of an equivalent number of new depositary
interests representing the same number of new shares in the share
capital of the Company which will rank pari passu with the existing
shares in issue, and admission of those depositary interests is
expected to occur tomorrow.
Caledonia Mining Corporation PlcMark
LearmonthCamilla Horsfall |
Tel: +44 1534 679 802Tel: +44 7817 841793 |
WH
IrelandAdrian Hadden/ Andrew De Andrade |
Tel: +44 20 7220 1751 |
Blytheweigh Financial
PRTim Blythe/Megan Ray |
Tel: +44 207 138 3204 |
3PPBPatrick
ChidleyPaul Durham |
Tel: +1 917 991 7701Tel: +1 203
940 2538 |
Curate Public
Relations (Zimbabwe)Debra Tatenda |
Tel: +263 77802131 |
The information contained within this
announcement is deemed by the Company to constitute inside
information under the Market Abuse Regulation (EU) No.
596/2014 (“MAR”) as it forms part
of UK domestic law by virtue of the European Union (Withdrawal) Act
2018 and is disclosed in accordance with the
Company's obligations under Article 17 of MAR.
Cautionary Note Concerning
Forward-Looking Information
Information and
statements contained in this news release that are not historical
facts are “forward-looking information”, “financial outlooks”
or “future oriented financial information” (collectively,
“forward-looking information”) within the meaning of applicable
securities legislation that involve risks and uncertainties
relating, but not limited to Caledonia's current expectations,
intentions, plans, and beliefs. Forward-looking information can
often be identified by forward-looking words such as “anticipate”,
“believe”, “expect”, “goal”, “plan”, “target”, “intend”,
“estimate”, “could”, “should”, “may” and “will” or the negative of
these terms or similar words suggesting future outcomes, or other
expectations, beliefs, plans, objectives, assumptions, intentions
or statements about future events or performance. Examples of
forward-looking information in this news release include:
production guidance, estimates of future/targeted production rates,
and our plans and timing regarding further exploration and drilling
and development, construction plans, financial and shareholders
returns on investment in construction projects and electricity
production/supply to the mine. This forward-looking information is
based, in part, on assumptions and factors that may change or prove
to be incorrect, thus causing actual results, performance or
achievements to be materially different from those expressed or
implied by forward-looking information. Such factors and
assumptions include, but are not limited to: failure to establish
estimated resources and reserves, the grade and recovery of ore
which is mined varying from estimates, success of future
exploration and drilling programs, reliability of drilling,
sampling and assay data, assumptions regarding the
representativeness of mineralization being inaccurate, success of
planned metallurgical test-work, capital and operating costs
varying significantly from estimates, delays in obtaining or
failures to obtain required governmental, environmental or other
project approvals, inflation, changes in exchange rates,
fluctuations in commodity prices, delays in the development of
projects, the completion of construction projects, the proposed
benefits from construction projects and other factors.
To the extent any
forward-looking information herein constitutes a financial outlook
or future oriented financial information, any such statement
is made as of the date hereof and included herein to provide
prospective investors with an understanding of the Company's
construction plans and assumptions. Security holders, potential
security holders and other prospective investors are cautioned that
such information may not be appropriate for other purposes and
should be aware that these statements are subject to known and
unknown risks, uncertainties and other factors that could cause
actual results to differ materially from those suggested by the
forward-looking statements. Such factors include, but are not
limited to: risks relating to estimates of mineral reserves and
mineral resources proving to be inaccurate, fluctuations in gold
price, risks and hazards associated with the business of mineral
exploration, development and mining, risks relating to the credit
worthiness or financial condition of suppliers, refiners,
contractors and other parties with whom the Company does business;
inadequate insurance, or inability to obtain insurance, to cover
these risks and hazards, employee relations; relationships with and
claims by local communities and indigenous populations; political
risk; risks related to natural disasters, terrorism, civil
unrest, public health concerns (including health epidemics or
outbreaks of communicable diseases such as the coronavirus
(COVID-19)); availability and increasing costs associated with
mining inputs and labour; the speculative nature of mineral
exploration and development, including the risks of obtaining or
maintaining necessary licenses and permits, diminishing quantities
or grades of mineral reserves as mining occurs; global financial
condition, the actual results of current exploration activities,
changes to conclusions of economic evaluations, and changes in
project parameters to deal with unanticipated economic or other
factors, risks of increased capital and operating costs,
environmental, safety or regulatory risks, expropriation, the
Company's title to properties including ownership thereof,
increased competition in the mining industry for properties,
equipment, qualified personnel and their costs, risks relating to
the uncertainty of timing of events including targeted production
rate increase, construction activity and currency fluctuations.
Security holders, potential security holders and other prospective
investors are cautioned that the assumptions used in the
preparation of such forward-looking information, although
considered reasonable at the time of preparation, may prove to be
imprecise and, accordingly, they should not place undue reliance on
such forward-looking information. By its nature, forward-looking
information involves numerous assumptions, inherent risks and
uncertainties, both general and specific, that contribute to the
possibility that the predictions, forecasts, projections and
various future events will not occur. Caledonia undertakes no
obligation to update publicly or otherwise revise any
forward-looking information whether as a result of new information,
future events or other such factors which affect this information,
except as required by law.
This news release is not an offer of the shares
of Caledonia for sale in the United States or elsewhere. This news
release shall not constitute an offer to sell or the solicitation
of an offer to buy, nor shall there be any sale of the shares of
Caledonia, in any province, state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of such province, state
or jurisdiction.
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