Exercise of Warrants

RNS Number : 6194Y

Cora Gold Limited

10 September 2020

 

Cora Gold Limited / EPIC: CORA.L / Market: AIM / Sector: Mining

10 September 2020

Cora Gold Limited ('Cora' or 'the Company')

Exercise of Warrants

Cora Gold Limited, the West African focused gold company, announces that on 09 September 2020 a certain director of the Company exercised his right as a warrantholder to subscribe for a total of 142,857 depositary interests of no par value each in the Company ('Ordinary Shares') at a price of 10 pence (British pound sterling) per Ordinary Share expiring on 30 September 2020 raising a total of £14,285.70.

Admission and Total Voting Rights

Admission to trading on AIM of the 142,857 depositary interests of no par value in the Company issued pursuant to the exercise of warrants will occur at 8.00 a.m. on 16 September 2020 ('Admission').

Following Admission, the Enlarged Issued Share Capital of the Company will be comprised of 192,392,160 depositary interests of no-par value each. The above figure of 192,392,160 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 Cora under the FCA's Disclosure and Transparency Rule.

Directors' Dealings

Pursuant to the exercise of warrants Robert Monro (Chief Executive Officer and a director) subscribed for a total of 142,857 Ordinary Shares. Following such subscription Robert Monro has an interest in a total of 1,396,896 Ordinary Shares of the Company, representing 0.73% of the Enlarged Issued Share Capital.

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM:

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	Robert Monro
2.	Reason for the notification
a)	Position/status:	Chief Executive Officer and a Director
b)	Initial notification/Amendment:	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name:	Cora Gold Limited
b)	LEI:	213800TW2N9JJYCUDD71
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted.
a)	Description of the financial instrument, type of instrument:  Identification code:	Depositary Interests of no par value  ISIN: VGG2423W1077
b)	Nature of the transaction:	Exercise of warrants to subscribe for one new ordinary share at a price of 10 pence per ordinary share expiring on 30 September 2020
c)	Price(s) and volume(s):	Price(s)  Volume(s) 10 p 142,857
d)	Aggregated information:  Aggregated volume:  Price:	Single transaction as in 4 c) above  Price(s)  Volume(s) 10 p 142,857
e)	Date of the transaction:	09 September 2020
f)	Place of the transaction:	Outside of a trading venue

Market Abuse Regulation ('MAR') Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

**ENDS**

For further information, please visit http://www.coragold.com or contact:

Bert Monro	Cora Gold Limited	[phone]
Christopher Raggett / Charlie Beeson	finnCap Ltd (Nomad & Joint Broker)	[phone]
Andy Thacker	Turner Pope Investments (Joint Broker)	[phone]
Megan Dennison / Susie Geliher	St Brides Partners (Financial PR)	[phone]

Notes

Cora is a gold company focused on two world class gold regions in Mali and Senegal in West Africa. Historical exploration has resulted in the highly prospective Sanankoro Gold Discovery, in addition to multiple, high potential, drill ready gold targets within its broader portfolio. Cora's primary focus is on further developing Sanankoro in the Yanfolila Gold Belt (Southern Mali), which Cora believes has the potential for a standalone mine development. Sanankoro has a positive Scoping Study published on it showing an 107% IRR and US$41.5m NPV at a US$1,500 gold price. Cora's highly experienced management team has a proven track record in making multi-million-ounce gold discoveries, which have been developed into operating mines.

 

END

 

 

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