Placing of Shares

RNS Number : 5381N

Greatland Gold PLC

09 September 2013

 



9 September 2013

Greatland Gold plc

Placing of Shares

Greatland Gold plc ("Greatland" or the "Company"), the mineral exploration and development company focused on gold projects in Tasmania and Western Australia, is pleased to announce that it has placed, through its broker SI Capital Limited, 128,571,429 ordinary shares of 0.1p each in Greatland ("Ordinary Shares") at a price of 0.35p per share raising gross proceeds of £450,000. The funds raised will be used to provide additional working capital for the Company with a significant portion allocated to priority licences.

As the Greatland directors do not presently have sufficient authorities to issue these shares, the placing is conditional on shareholder approval through the passing of certain resolutions at a general meeting.

A circular convening a general meeting that is expected to be held at 11.00 a.m. on 30 September 2013 (the "General Meeting") will shortly be posted to shareholders. At the General Meeting, shareholder approval will be sought, inter alia, for the allotment and issue of 128,571,429 Ordinary Shares along with additional general authorities to provide the Company with a level of flexibility to allow further funding in the event that it is required.

Application will be made for the admission to trading on AIM of these shares, with admission expected to take place on 1 October 2013.

Following the issue of these shares, Greatland's capital will consist of 579,232,539 Ordinary  Shares with voting rights. Greatland does not hold any shares in treasury. Therefore, the total number of voting rights in Greatland will be 579,232,539.  The above figure may be used by shareholders after 30 September 2013 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 on the placing: "The continued support is most welcome. This placing will allow us to make further progress on our plans to establish resources across our portfolio of assets".

For more information please contact:

Greatland Gold plc

Callum Baxter

Tel  [phone]

Email:  [e-mail]

www.greatlandgold.com

Grant Thornton UK LLP (Nominated Adviser)

Colin Aaronson/David Hignell

Tel  [phone]

SI Capital Limited (Broker)
Nick Emerson/Andy Thacker
Tel  [phone]

RLM Finsbury
Gordon Simpson / Chris Ryall
Tel [phone]

Notes to Editors

Greatland Gold 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. The Company currently has six mineral projects located in Australia, including the Ernest Giles, Firetower, Warrentinna, Lisle, Bromus and Lackman Rock projects.  The Company was established in London in 2005 and admitted to AIM in July 2006.

The board seeks to increase shareholder value by the systematic evaluation of its existing assets, as well as 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

 

 

LISLKLFBXKFEBBZ