23 Oct 2020 11:17
23 October 2020
Shanta Gold Limited
("Shanta Gold", "Shanta" or the "Company")
FUNDRAISING UPDATE
Shanta Gold Limited (AIM: SHG), the East Africa-focused gold producer, developer and explorer, is pleased to announce that, following the announcement on 22 October 2020 (the "Launch Announcement") regarding the launch of a proposed placing (the "Placing"), a direct subscription (the "Subscription") (together, the "Fundraising") and an offer for subscription for retail investors (the "PrimaryBid Offer") the books have closed and are significantly oversubscribed. The Company is working with its advisors on final allocations and will provide a further update in due course.
Enquiries:
Shanta Gold Limited |
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Eric Zurrin (CEO) | +44 (0) 14 8173 2153 |
Luke Leslie (CFO) |
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Nominated Adviser, Joint Broker and Joint Bookrunner |
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Liberum Capital Limited |
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Scott Mathieson / Ed Thomas / Louis Davies | +44 (0) 20 3100 2000 |
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Joint Broker and Joint Bookrunner |
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Tamesis Partners LLP |
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Charlie Bendon / Richard Greenfield | +44 (0) 20 3882 2868 |
Joint Bookrunner | +1 (416) 943 6472 |
Cormark Securities Inc. | |
Paul Nieznalski / Darren Wallace |
About Shanta Gold
Shanta Gold is an East Africa-focused gold producer. It currently has defined ore resources on the New Luika and Singida projects in Tanzania and holds exploration licenses covering approximately 1,200 km2 in the country. Shanta Gold also owns the West Kenya Project in Kenya with defined ore resources of 1.2 Mt grading 12.6 g/t. Shanta's flagship New Luika Gold Mine commenced production in 2012 and produced 84,506 ounces in 2019. The Company has been admitted to trading on London's AIM market and has approximately 849 m shares in issue. For further information please visit: www.shantagold.com.
ENDS