PERE.L Regulatory News (PERE)

THE INFORMATION CONTAINED IN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE EU MARKET ABUSE REGULATION (596/2014). UPON PUBLICATION OF THE ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

21st June 2018

Announcement of Roadshow for Proposed Placing to fund completion of the Acquisition of Minto Mine from Capstone

London, United Kingdom - Pembridge Resources plc (LSE:PERE) ("Pembridge" or the "Company"), announces that further to announcements of 15 February 2018 and 11 June 2018 will today commence its roadshow to raise proceeds of approximately US$40 million by way of a placing of ordinary shares of nominal value 1p each in the capital of the Company (subject to a share consolidation on a 10:1 basis) to fund its acquisition of Minto Explorations Ltd. ("Minto"), from Capstone Mining Corp. ("Capstone") (the "Proposed Placing"). The Company has appointed Arden Partners plc ("Arden Partners") and FirstEnergy Capital LLP ("GMP Securities") as bookrunners in connection with the Proposed Placing (together, the "Bookrunners"), which the Company expects to complete in the next two to three weeks.

Key Highlights

· Pembridge is targeting a raise of approximately US$40 million by way of the Proposed Placing;

· Indicative price of placing at 50p per ordinary share after 10:1 consolidation;

· Proceeds of the Proposed Placing to be used for the acquisition of Minto, per the Share Purchase Agreement executed with Capstone on 14 February 2018, as well as fund future work at the mine to extend its life, increase productivity and improve profitability;

· Pembridge's management, Board of Directors and connected parties expect to contribute at least US$5 million towards the Proposed Placing;

· An investor presentation, together with the Competent Persons Report from Aurora Geosciences Ltd will be available on the Company's website (www.pembridgeresources.com) from today and,

· Interested parties should contact Arden Partners, GMP Securities in their capacities as Bookrunners and the Company's brokers, or SI Capital Limited ("SI Capital"), solely in its capacity as the Company's broker, for more information.

David Linsley, Chief Executive Officer of Pembridge stated:

"Further to our announcement on 15 February 2018, and after securing the recent offtake finance agreement with a leading Japanese trading house as announced on 11 June 2018, we are delighted to move to the final phase in this financing process and commence our roadshow in connection with the Proposed Placing. Interest in an equity placing has been strong and we are confident that the Proposed Placing will be well received given the tremendous value the acquisition of Minto will bring to Pembridge."

The person who arranged for the release of this announcement on behalf of the Company was David Linsley, Chief Executive Officer. 

ENDS

About Pembridge Resources plc

Pembridge is a mining-focused special purpose acquisition company admitted to listing on the standard segment of the Official List by the United Kingdom Financial Conduct Authority and to trading on the main market for listed securities of the London Stock Exchange.

The Company's management is composed of a team of senior leaders with experience in various board and executive positions with a complementary mix of expertise in geology, engineering, project appraisal, and commercial development across a wide range of commodity groups and mining jurisdictions.

About Minto

Minto is an open pit and underground copper-gold-silver mine located in central Yukon, approximately 240 kilometres north of the capital Whitehorse along the Klondike Highway. The Minto mine has been in continuous production since 2007 and is presently the only operating mine in Yukon territory. In excess of US$350 million of capital expenditure has been invested into Minto operations since site construction began some 12 years ago.

Pembridge Resources plc: +44 20 7917 2968

David Linsley, Chief Executive Officer

Paul Fenby, Chief Financial Officer

Bookrunners and Brokers to the issue

GMP Securities - Canada: +1 416 367 8600

Michael Barman

Arden Partners - United Kingdom: +44 20 7614 5900

Paul Shackleton

Fraser Marshall

Tim Dainton

Broker to the company

SI Capital - United Kingdom: +44 14 8341 3500

Nick Emerson

Financial Public Relations

Tavistock Communications: +44 20 7920 3150

Charles Vivian

Gareth Tredway

Barnaby Hayward