Shanta Gold Limited SHANTA GOLD RESPONSE TO HELIO RESOURCE CORP (0026Q)
September 06 2017 - 7:31AM
UK Regulatory
TIDMSHG
RNS Number : 0026Q
Shanta Gold Limited
06 September 2017
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR
PUBLICATION, RELEASE OR DISSEMINATION, DIRECTLY OR INDIRECTLY, IN
WHOLE OR IN PART, IN THE UNITED STATES, CANADA, AUSTRALIA, JAPAN,
THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH IT
WOULD BE UNLAWFUL TO DO SO. ANY FAILURE TO COMPLY WITH THIS
RESTRICTION MAY CONSTITUTE A VIOLATION OF THE SECURITIES LAWS OF
SUCH JURISDICTIONS.
FURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND
SHALL NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR THE SOLICITATION
OF AN OFFER TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY NEW
ORDINARY SHARES OF SHANTA GOLD LIMITED IN ANY JURISIDICTION IN
WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL.
6 September 2017
SHANTA GOLD LIMITED
("Shanta Gold", "Shanta" or the "Company")
SHANTA GOLD RESPONSE TO HELIO RESOURCE CORP
Shanta Gold (AIM: SHG) ("Shanta") has reviewed the news release
of Helio Resource Corp. ("Helio") (TSXV: HRC) issued today in which
Helio has purported to reject Shanta's termination of the
arrangement agreement dated as of 19 June 2017 (Vancouver time)
(the "Arrangement Agreement") with Helio. Shanta maintains that it
has validly terminated the Arrangement Agreement as a result of the
potential impact on Helio of the bills signed into law in Tanzania
on 10 July 2017, after having taken professional advice and given
due consideration to its decision. Shanta's position, and advice,
remains that it had clear and compelling rights to terminate the
Arrangement Agreement and that the Arrangement Agreement was
validly terminated.
Enquiries:
Shanta Gold Limited
Eric Zurrin (CEO) +255 (0)22 2601 829
Luke Leslie (CFO)
Nominated Adviser and Broker
Peel Hunt LLP +44 (0)20 7418 8900
Matthew Armitt / Ross Allister / Chris Burrows
Financial Public Relations
Tavistock +44 (0)20 7920 3150
Jos Simson / Emily Fenton / Barney Hayward
About Shanta Gold
Shanta Gold is an East Africa-focused gold producer, developer
and explorer. It currently has defined ore resources on the New
Luika, Nkuluwisi and Singida projects in Tanzania and holds
exploration licences over a number of additional properties in the
country. Shanta's flagship New Luika Gold Mine commenced production
in 2012 and produced 87,713 ounces in 2016. The Company is admitted
to trading on London's AIM and has approximately 766 million shares
in issue.
For further information please visit: www.Shantagold.com.
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014. Upon the
publication of this announcement via Regulatory Information
Service, this inside information is now considered to be in the
public domain.
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCOKADNBBKDKCK
(END) Dow Jones Newswires
September 06, 2017 08:31 ET (12:31 GMT)
Shanta Gold (LSE:SHG)
Historical Stock Chart
From Apr 2024 to May 2024
Shanta Gold (LSE:SHG)
Historical Stock Chart
From May 2023 to May 2024