Fundraising Update

RNS Number : 0705D

Shanta Gold Limited

23 October 2020

 

23 October 2020

Shanta Gold Limited

("Shanta Gold", "Shanta" or the "Company")

FUNDRAISING UPDATE

Shanta Gold Limited (AIM: SHG), the East Africa-focused gold producer, developer and explorer, is pleased to announce that, following the announcement on 22 October 2020 (the "Launch Announcement") regarding the launch of a proposed placing (the "Placing"), a direct subscription (the "Subscription") (together, the "Fundraising") and an offer for subscription for retail investors (the "PrimaryBid Offer") the books have closed and are significantly oversubscribed. The Company is working with its advisors on final allocations and will provide a further update in due course.  

Enquiries:

Shanta Gold Limited
Eric Zurrin (CEO)	[phone]
Luke Leslie (CFO)
Nominated Adviser, Joint Broker and Joint Bookrunner
Liberum Capital Limited
Scott Mathieson / Ed Thomas / Louis Davies	[phone]
Joint Broker and Joint Bookrunner
Tamesis Partners LLP
Charlie Bendon / Richard Greenfield	[phone]
Joint Bookrunner	[phone]
Cormark Securities Inc.
Paul Nieznalski / Darren Wallace

About Shanta Gold

Shanta Gold is an East Africa-focused gold producer. It currently has defined ore resources on the New Luika and Singida projects in Tanzania and holds exploration licenses covering approximately 1,200 km² in the country. Shanta Gold also owns the West Kenya Project in Kenya with defined ore resources of 1.2 Mt grading 12.6 g/t. Shanta's flagship New Luika Gold Mine commenced production in 2012 and produced 84,506 ounces in 2019. The Company has been admitted to trading on London's AIM market and has approximately 849 m shares in issue. For further information please visit: www.shantagold.com .

ENDS

 

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