Institutional Fundraise of £1.1m22 Apr 2026 07:10
Extremely positive RNS, this provides for Silver Lake in addition to Red Setter, also provides for future funding through warrants. The one thing that we've been worried about just got taken off the table at only a few pence below current SP. This is extremely good news for us
Wishbone Gold Plc is pleased to announce it has raised gross proceeds of £1,100,000 in an institutional placing facilitated and arranged by Marex Financial at a placing price of 26.35 pence per share ("Placing Price") through the issue of 4,174,573 new Ordinary Shares of 0.1 pence par value each (the "New Ordinary Shares").
In addition, warrants have been issued to subscribers on the basis of one warrant for every two shares subscribed in the issue with a strike price of 40p per share, this being 50% above the placing price. These are exercisable within the period of two and a half years from the date of the placing.
Richard Poulden, Wishbone Gold's Chairman, stated:
"We were approached by an institutional investor through Marex who expressed a serious interest in our Western Australia projects. Red Setter is located only 20km from Greatland Resources' Telfer gold mine which is drilling more meters in 2026 than in Telfer's history. We have further tenement packages in that region which we have yet to explore. In addition, the analysis of the Silver Lake project which we recently announced we had signed an option to acquire is looking extremely promising. This fundraise will also cover the initial development of this prospect. Overall we are very excited for the coming year given our expanded drill programme at Red Setter and the prospects at Silver Lake."
Application is being made for the New Ordinary Shares, which will rank pari passu with the existing Ordinary Shares on issue, to be admitted to trading on the AIM and AQSE markets ("Admission"). Dealings in respect of 4,174,573 New Ordinary Shares are expected to commence on or about 29 April 2026 and the issue is subject only to Admission.
Total Voting Rights ("TVR")
The Company's total issued and voting share capital upon Admission will consist of 34,400,438 Ordinary Shares. This 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, securities of the Company.