Placing

RNS Number : 9258P

Greatland Gold PLC

11 June 2015

 



11 June 2015

Greatland Gold plc

("Greatland" or "the Company")

Placing of Shares Raising Gross Proceeds of £350,000

Greatland Gold plc ("Greatland" or the "Company"), the mineral exploration and development company , is pleased to announce that it has placed 259,259,253 ordinary shares of 0.1p each in Greatland ("Ordinary Shares") at a price of 0.135p per share raising gross proceeds of £350,000. The funds raised will be used to finance the drilling programmes at its Ernest Giles and Bromus projects, where we have identified both gold and nickel sulphide targets, and provide additional general working capital for the Company.

Application will be made for the admission to trading on AIM of these shares, with admission expected to take place on 25 June 2015.

Following the issue of these shares, Greatland's share capital will consist of 992,337,945 Ordinary Shares with voting rights. Greatland does not hold any shares in treasury. Therefore, the total number of voting rights in Greatland is 992,337,945. The above 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, the Company under the FCA's Disclosure and Transparency Rules.

Callum Baxter, CEO, commented: "This placing will allow us to finance the drilling programmes at our Ernest Giles and Bromus projects, where we have conducted promising surveys on land that has been largely unexplored. We are nearing commencement of drilling at Ernest Giles, with the programme expected to begin within the next seven days and scheduled to last for four weeks. Following completion at Ernest Giles, and with the requisite approvals, we will mobilise our drilling team to Bromus, which we have scheduled for Q3 2015. We look forward to providing further updates as the drilling programmes progress and results become available."

Enquiries:

Greatland Gold PLC

Callum Baxter

Tel [phone]

Email:  [e-mail]

www.greatlandgold.com

Grant Thornton UK LLP (Nomad)

Colin Aaronson / Richard Tonthat

Tel [phone]

SI Capital Limited (Broker)

Nick Emerson / Andy Thacker

Tel  [phone]

Finsbury (Media Relations)

Gordon Simpson / Olivia Simpson

Tel [phone]

Notes to Editors

Greatland is a mineral exploration and development company based in Australia. The principal activity of Greatland Gold plc is to explore for and develop natural resources, with a focus on gold and nickel sulphides. The Company currently has four mineral projects located in Australia, including the Ernest Giles, Bromus, Firetower and Warrentinna projects. The pipeline of projects targets highly prospective areas for large gold and nickel sulphide orebodies. The Company was established in London in 2005 and admitted to AIM in July 2006.

The board seeks to increase shareholder value through the systematic evaluation of its existing resource assets, as well as through the acquisition of suitable exploration and development projects and producing assets.

Greatland has a UK and Australian based board of directors, with a head office in London and an exploration office in Australia.

 

END

 

 

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