Issue of Equity

RNS Number : 0690S

Panthera Resources PLC

11 November 2021

 

11 November 2021

Panthera Resources Plc

("Panthera" or "the Company")

Equity Issue Update

Panthera Resources plc (AIM: PAT), the gold exploration and development company with assets in India and West Africa, advises that it has issued 7,031,870 new ordinary shares ("Shares"). 

Equity Capital Raising

On 29 October 2021, the Company announced that it has arranged an equity capital raising of £780,000 at 10 pence per share ("the Placing).  Pursuant to the Placing, the Company has issued 6,536,000 shares for £653,600 in proceeds.

Furthermore, the Company advises that the capital raising has been expanded from £780,000 to £1,000,000 on the same terms and conditions. 132,000 options (£0.10 expercise price, two year expiry) will be granted pursuant to broking arrangements for the capital raise. The settlement of the remaining balance of the Placing (£126,400) together with the additional £220,000 is expected on or about 19 November 2021.

The additional proceeds will fund an expanded drilling programme at Bassala, planned to commence later this month.  The expanded drilling programme will concentrate on the targets where the Company received encouraging assay results in the last quarter including:

10m @ 3.45g/t Au from 60m incl. 5m @ 6.59g/t Au from 60m

20m @ 2.12g/t Au from 10m incl. 10m @ 3.79g/t Au from 20m

25m @ 1.00g/t Au from 20m incl. 5m @ 3.18g/t Au from 20m

Exercise of Warrants and Directors' Dealings

The Company announces that it has issued a total of 495,870 new Shares to entities associated with directors of the Company, Michael Higgins and Timothy Hargreaves, following their conversion of a total of 495,870 warrants at an exercise price of 6.68 pence per warrant for total gross proceeds of £33,124. 

Following the issue of Shares in respect of the exercise of warrants, Mr Higgins has an interest in  8,125,923 Shares, representing an interest of 8.30% in the issued capital of the Company, and Mr Hargreaves has an interest in  2,192,410  Shares, representing an interest of 2.24% in the issued capital of the Company.

The FCA PDMR notifications, made in accordance with the requirements of the EU Market Abuse Regulation, are set out below.

Application for Admission

Application will be made to the London Stock Exchange for 6,536,000 new ordinary Panthera shares issued in respect of the Placing and 495,870 new ordinary Panthera shares issued in respect of the exercise of warrants, to be admitted to trading on the AIM market with admission expected to occur on or around 17 November 2021 (Admission).  The issued new ordinary Panthera shares will rank pari passu in all respects with the existing ordinary Panthera shares.

Following the Admission of the new Shares, the issued ordinary share capital of Panthera will consist of 97,908,209 Shares. 

For the purposes of the Financial Conduct Authority's Disclosure and Transparency Rules ("DTRs"), the issued ordinary share capital of Panthera following the allotment of the Shares consists of  97,908,209 ordinary shares of 1 pence each,  with voting rights attached (one vote per share). There are no shares held in treasury. This total voting rights figure may be used by shareholders as the denominator for the calculation by which they will determine whether they are required to notify their interest in, or a change to their interest in, Panthera under the DTRs. Admission of the Shares is expected to become effective and dealings to commence at 8.00 am on 17 November 2021.

AIM Rule 17 - Disclosure  

Further to the Company's announcement on 29 January 2021, Elk Petroleum Limited, a company that Tim Hargreaves, Non-Executive Director of the Company, is a director to has now commenced liqudation.

Contacts

Panthera Resources PLC

Mark Bolton (Managing Director)  [phone]

  [e-mail]

Allenby Capital Limited (Nominated Adviser & Broker)  [phone]

John Depasquale / Vivek B hardwaj (Corporate Finance) 

Financial Public Relations

Vigo Consulting Ltd  [phone]

Oliver Clark / Chris McMahon

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For more information and to subscribe to updates visit:  pantheraresources.com

UK Market Abuse Regulation (UK MAR) Disclosure

The information contained within this announcement is deemed by the Company to constitute inside information for the purposes of Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310. Upon the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

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.

ANNEXURES

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	Michael Higgins
b)	Position/Status:	Chairman
c)	Initial notification/ Amendment:	Initial notification
2	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name:	Panthera Resources Plc
b)	LEI:	213800IB98EG6736XN82
3	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:	Ordinary shares of £0.01 each GB00BD2B4L05
b)	Nature of the transaction:	Exercise of warrants
c)	Price(s) and Volume(s):	Price(s) Volume(s) £0.0668 70,500 £0.0668 282,000
d)	Aggregated Information: - Aggregated Volume - Price	352,500 Shares £0.0668
e)	Date of the transaction:	11 November 2021
f)	Place of the transaction:	AIM, London Stock Exchange

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	Timothy Hargreaves
b)	Position/Status:	Non-executive director
c)	Initial notification/ Amendment:	Initial notification
2	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name:	Panthera Resources Plc
b)	LEI:	213800IB98EG6736XN82
3	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:	Ordinary shares of £0.01 each GB00BD2B4L05
b)	Nature of the transaction:	Shares issued in lieu of director fees
c)	Price(s) and Volume(s):	Price(s) Volume(s) £0.0668 143,370
d)	Aggregated Information: - Aggregated Volume - Price	143,370 Shares £0.0668
e)	Date of the transaction:	11 November 2021
f)	Place of the transaction:	AIM, London Stock Exchange

**ENDS**

 

END

 

 

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