Riverfort Regulatory News (RGO)

31 October 2018

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION EU 596/2014 ("MAR"). IN ADDITION, MARKET SOUNDINGS (AS DEFINED IN MAR) WERE TAKEN IN RESPECT OF THE MATTERS CONTAINED IN THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN PERSONS BECAME AWARE OF SUCH INSIDE INFORMATION AS PERMITTED BY MAR. THAT INSIDE INFORMATION IS SET OUT IN THIS ANNOUNCEMENT AND HAS BEEN DISCLOSED AS SOON AS POSSIBLE IN ACCORDANCE WITH PARAGRAPH 7 OF ARTICLE 17 OF MAR. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THE INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION IN RELATION TO THE COMPANY AND ITS SECURITIES

Paternoster Resources plc

("Paternoster" or the "Company")

Equity placing

On 19 September 2018, the Company announced its interim results for the six months to 30 June 2018. These results recorded a significant improvement in the financial performance of the Company as a result of its partnership with RiverFort Global Capital Limited ("RiverFort"), the specialist arranger of funding solutions to junior companies. On 10 October 2018, the Company announced that it had now deployed over £1.8 million in Riverfort-arranged investments. At the Company's Annual General Meeting held on 26 October 2018, shareholders overwhelmingly approved all resolutions, including a change in the Company's name to RiverFort Global Opportunities plc, in order to present a clearer market presence for investment and to better reflect the Company's investment focus going forward.

Given the significant progress that has been achieved by the Company to date, there has been increased interest in the Company from its institutional shareholder base. Against the background of this increased investor interest, the Company has decided to raise some additional funds. The Board believes that it is in the interests of the Company to increase the depth of its shareholder base. Furthermore, with markets becoming increasingly uncertain, the number of investment opportunities available to the Company is expected to increase and so it makes sense to raise additional investment funds to take advantage of such opportunities.

Paternoster is therefore pleased to announce that the Company has placed (subject to admission to trading on AIM) 500,000,000 new ordinary shares in the Company (the "Placing Shares") at a price of 0.1 pence per share to raise gross proceeds of £500,000 (the "Placing"). The Placing Shares have been placed at the same price that funds were raised at in June 2018 and at a price equivalent to the closing mid price of the shares on 30 October 2018.

Nicholas Lee, Chairman said:

"I am delighted that the progress of the Company is being recognised and that our strategy is being well supported by our shareholders. We are continuing to see a number of exciting investment opportunities and are confident in being able to deploy our investment funds effectively " 

Application will be made for the Placing Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will become effective on or around 6 November 2018. The Placing Shares will rank pari passu with the existing ordinary shares of 0.1 pence par value each ("Ordinary Shares").

Following the issue of the Placing Shares, the Company will have 6,789,335,226 Ordinary Shares in issue, each share carrying the right to one vote. The Company does not hold any Ordinary Shares in treasury. The above figure of 6,789,335,226 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 to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

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