Further US$1 million fundraise

RNS Number : 7747I

Chaarat Gold Holdings Ltd

28 November 2018

 

28 November 2018

Chaarat Gold Holdings Limited

("Chaarat" or the "Company")

Further US$1 million fundraise

Chaarat (AIM:CGH), the AIM-quoted exploration and development company with assets in the Kyrgyz Republic, is pleased to announce that it has entered into agreements with two investors for the subscription and issue of secured convertible notes 2021 for US$600,000 and US$400,000 respectively.  These notes have been issued on the same terms as the 2021 Notes issued on 11 September 2018 as first announced on 28 August 2018.

The US$1 million proceeds will be applied to Chaarat's goal of building a leading emerging markets gold company with an initial focus on Central Asia and the FSU, and to support the Kapan acquisition announced on 30 October 2018.

Enquiries

Chaarat Gold Holdings Limited Martin Andersson (Chairman)	[phone]
Artem Volynets (CEO)	[e-mail]
Numis Securities Limited
John Prior, Paul Gillam (NOMAD)	[phone]
James Black (Corporate Broking)
Powerscourt
Conal Walsh	[phone]
Isabelle Saber Sam Austrums	[e-mail]

About Chaarat Gold

Chaarat Gold is an exploration and development company operating in the Kyrgyz Republic with a large, high grade resource - the Chaarat Gold Project. The Company's key objective is to become a low-cost gold producer generating significant production from the development of the Chaarat Gold Project.

On 30 October 2018, Chaarat announced that it had entered into a binding sale and purchase agreement to acquire the Kapan mine in Armenia from Polymetal, for a consideration of US$55 million, subject to adjustments.

Chaarat is engaged in an active community engagement programme to optimise the value of the Chaarat investment proposition.

Chaarat aims to create value for its shareholders, employees and communities from its high-quality gold and mineral deposits in the Kyrgyz Republic by building relationships based on trust and operating to the best environmental, social and employment standards.

Further information is available at www.chaarat.com

 

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