CRA.L Regulatory News (CRA)

Cradle Arc plc / EPIC: CRA.L / Market: AIM / Sector: Mining

31 October 2018

Cradle Arc plc

("Cradle Arc" or the "Company") 

Placing to raise £396,000 gross

Cradle Arc (AIM: CRA), the African focused base and precious metals exploration and production company, is pleased to announce that it has raised £396,000 (before expenses) by way of a conditional placing of 44,000,000 new ordinary shares of 0.01 pence each in the capital of the Company ("Ordinary Shares") (the "Placing Shares") at a price of 0.90 pence per Placing Share, with certain new and existing shareholders (the "Placing").

The Placing is conditional only upon admission of the Placing Shares to trading on AIM. The Placing Shares will be fully paid and will rank pari passu in all respects with the Company's existing Ordinary Shares.

The net proceeds of the Placing will be used alongside the funding from the US$2.0 million loan facility provided to Leboam Holdings (Pty) Limited, the Company's 60 per cent. owned subsidiary, by PenMin Botswana Proprietary Limited that was completed on 19 October 2018, as the Company completes the rehabilitation and improvement of the current processing facilities at the Mowana Copper Mine and thereby address the intermittent breakdowns and interruptions that were the key reason for the Company's inability to meet its production targets during Q3 2018.

Kevin van Wouw, CEO of Cradle Arc, commented:

We are delighted to have completed this fundraise; we are busy applying the funds from the loan facility to improve the process plant to complement the hard work that has gone into the rehabilitation of the pit. We look forward to updating the market on our progress in the near future.

Application for trading on AIM and Total Voting Rights

Application will be made to the London Stock Exchange plc for the Placing Shares to be admitted to trading on AIM ('Admission'). Admission is expected to become effective and dealings in the Placing Shares to commence at 8.00 a.m. on or around 7 November 2018. On Admission, the Company will have 342,238,845 Ordinary Shares in issue.

The Company does not currently hold any Ordinary Shares in treasury. Accordingly, the above figure of 342,238,845 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

**ENDS**

For further information on the Company, please visit www.cradlearc.com or contact:

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.