TIDMPAT
RNS Number : 1297X
Panthera Resources PLC
18 December 2023
THIS ANNOUNCEMENT, INCLUDING THE APPIX AND THE INFORMATION IN
IT, IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR
DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR
INTO THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH
AFRICA, JAPAN, NEW ZEALAND, SINGAPORE OR ANY OTHER JURISDICTION IN
WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE
UNLAWFUL.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF EU REGULATION 596/2014 (WHICH FORMS PART OF
DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT
2018 ("EUWA")) ("UK MAR"). IN ADDITION, MARKET SOUNDINGS (AS
DEFINED IN UK MAR) WERE TAKEN IN RESPECT OF CERTAIN OF THE MATTERS
CONTAINED WITHIN THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN
PERSONS BECAME AWARE OF INSIDE INFORMATION (AS DEFINED UNDER UK
MAR). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY
INFORMATION SERVICE, THOSE PERSONS THAT RECEIVED INSIDE INFORMATION
IN A MARKET SOUNDING ARE NO LONGER IN POSSESSION OF SUCH INSIDE
INFORMATION, WHICH IS NOW CONSIDERED TO BE IN THE PUBLIC
DOMAIN.
18 December 2023
Panthera Resources Plc
("Panthera" or "the Company")
Equity Financing Update
Subscription to raise GBP150k in addition to the GBP785k
recently raised
Panthera Resources plc (AIM: PAT), the gold exploration and
development company with assets in India and West Africa, is
pleased to announce that it has conditionally raised an additional
GBP150,000 (before expenses) by way of a subscription (the
"Additional Equity Financing") of a total of 3,000,000 new ordinary
shares of 1 pence each in the Company (the "Ordinary Shares") at a
price of 5 pence per new Ordinary Share (the "Subscription
Price").
This follows the completion of the equity capital fundraise for
GBP785,000 (before expenses), details of which were announced by
the Company on 6 December 2023 (together the "Initial Equity
Financing"). In this respect, considering that the Initial Equity
Financing was substantially oversubscribed, the Company has elected
to extend the Initial Equity Financing through raising an
additional GBP150,000 (before expenses) at the Subscription Price,
being a small part of the oversubscriptions.
It is intended that the net proceeds of the Additional Equity
Financing will be deployed for the same purposes as that of the
Initial Equity Financing, namely, towards the Company's activities
in India and West Africa and meeting the Company's working capital
commitments.
The Additional Equity Financing has been conducted as a private
subscription under the Company's existing allotment and pre-emption
disapplication authorities and participation has not been made
available to members of the public. The 3,000,000 new Ordinary
Shares (the "Subscription Shares") will rank pari passu with the
existing Ordinary Shares.
The Additional Equity Financing is subject to terms and
conditions agreed between the Company and the subscriber for the
Subscription Shares and is conditional, inter alia, on Admission
(as defined below). The Additional Equity Financing is not
underwritten by Allenby Capital Limited ("Allenby Capital") or any
other person.
The Company has agreed to pay Allenby Capital a fundraise
commission in connection with funds introduced by Allenby Capital
pursuant to the Additional Equity Financing. In addition, the
Company has agreed to issue 180,000 options to Allenby Capital,
exercisable at a price of 5 pence on or before 14 December 2025
("Option") with each Option entitling the holder to acquire one new
Ordinary Share upon exercise of the Option.
Admission and total voting rights
Application will be made to London Stock Exchange plc for the
3,000,000 new Ordinary Shares to be admitted to trading on AIM
("Admission"). It is currently anticipated that Admission will
become effective and that dealings will commence on AIM at 8.00
a.m. on or around 21 December 2023.
Upon Admission of the 3,000,000 new Ordinary Shares , the
Company's issued ordinary share capital will consist of 173,989,083
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
173,989,083 . With effect from 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.
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 B hardwaj (Corporate Finance)
Guy McDougall / Kelly Gardiner (Sales & Corporate
Broking)
Novum Securities Limited (Joint Broker) +44 (0) 20 7399 9400
Colin Rowbury
Financial Public Relations
Zak Mir +44 (0) 786 752 7659
Subscribe for Regular Updates
Follow the Company on Twitter at: @PantheraPLC
For more information and to subscribe to updates 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.
Notice to Distributors
Solely for the purposes of the product governance requirement
contained in Chapter 3 of the FCA Product Intervention and Product
Governance Sourcebook (together, the "UK Product Governance
Requirements"), and disclaiming all and any liability, whether
arising in tort, contract or otherwise, which any "manufacturer"
(for the purposes of the UK Product Governance Requirements) may
otherwise have with respect thereto, the Subscription Shares have
been subject to a product approval process, which has determined
that the Subscription Shares are: (i) compatible with an end target
market of retail investors and investors who meet the criteria of
professional clients and eligible counterparties, as defined under
the FCA Handbook Conduct of Business Sourcebook, and (ii) eligible
for distribution through all permitted distribution channels (the
"Target Market Assessment").
Notwithstanding the Target Market Assessment, distributors
should note that: the price of the Subscription Shares may decline
and investors could lose all or part of their investment; the
Subscription Shares offer no guaranteed income and no capital
protection; and an investment in the Subscription Shares is
compatible only with investors who do not need a guaranteed income
or capital protection, who (either alone or in conjunction with an
appropriate financial or other adviser) are capable of evaluating
the merits and risks of such an investment and who have sufficient
resources to be able to bear any losses that may result therefrom.
The Target Market Assessment is without prejudice to the
requirements of any contractual, legal or regulatory selling
restrictions in relation to the Subscription Shares. Furthermore,
it is noted that, notwithstanding the Target Market Assessment,
Allenby Capital Limited will only procure investors who meet the
criteria of professional clients and eligible counterparties. For
the avoidance of doubt, the Target Market Assessment does not
constitute: (a) an assessment of suitability or appropriateness for
the purposes of the FCA Handbook Conduct of Business Sourcebook
COBS 9A and 10A respectively; or (b) a recommendation to any
investor or group of investors to invest in, or purchase, or take
any other action whatsoever with respect to the Subscription
Shares.
Each distributor is responsible for undertaking its own target
market assessment in respect of the Subscription Shares and
determining appropriate distribution channels.
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END
ROIUWOBROOUUARA
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December 18, 2023 02:38 ET (07:38 GMT)
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