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4 Apr 2024 07:00
4 April 2024
Pathfinder Minerals plc
("Pathfinder" or the "Company")
Update in relation to £1.275 million subscription
Pathfinder Minerals PLC (AIM: PFP), an AIM Rule 15 cash shell, announced on 22 December 2023 that Pathfinder has raised approximately £1.275 million (before expenses) by way of a subscription of through the issue of 425,000,000 new ordinary shares of 0.1 pence each in the Company at 0.30 pence per new Ordinary Share (the "Subscription"). Admission of the new Ordinary Shares to trading on AIM took place on 27 December 2023.
As part of the Subscription, new Ordinary Shares were issued and allotted to a certain participant in the Subscription (the "Subscriber"). Notwithstanding settlement taking place on 27 December 2023, £60,000.00 is currently outstanding from the Subscriber.
The Company has been in regular dialogue with the Subscriber and the Company currently expects settlement in full on the basis of the assurances received from the Subscriber. The Subscriber has reiterated his commitment to settling his outstanding Subscription to the Company as soon as practicable. However, there can be no guarantee that funds will be received from the Subscriber.
The Company will provide a further update as soon as practicable.
Enquiries:
Pathfinder Minerals Plc
Paul Barrett, Executive Director
Tel. +44 (0)20 3143 6748
Allenby Capital Limited (Nominated Adviser and Broker)
John Depasquale / Vivek Bhardwaj / Lauren Wright (Corporate Finance)
Stefano Aquilino / Joscelin Pinnington (Sales & Corporate Broking)
Tel. +44 (0)20 3328 5656
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