6 Sep 2017 13:31
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FURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND SHALL NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR THE SOLICITATION OF AN OFFER TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY NEW ORDINARY SHARES OF SHANTA GOLD LIMITED IN ANY JURISIDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL.
6 September 2017
SHANTA GOLD LIMITED("Shanta Gold", "Shanta" or the "Company")
SHANTA GOLD RESPONSE TO HELIO RESOURCE CORP
Shanta Gold (AIM: SHG) ("Shanta") has reviewed the news release of Helio Resource Corp. ("Helio") (TSXV: HRC) issued today in which Helio has purported to reject Shanta's termination of the arrangement agreement dated as of 19 June 2017 (Vancouver time) (the "Arrangement Agreement") with Helio. Shanta maintains that it has validly terminated the Arrangement Agreement as a result of the potential impact on Helio of the bills signed into law in Tanzania on 10 July 2017, after having taken professional advice and given due consideration to its decision. Shanta's position, and advice, remains that it had clear and compelling rights to terminate the Arrangement Agreement and that the Arrangement Agreement was validly terminated.
Enquiries:
Shanta Gold Limited
Eric Zurrin (CEO) +255 (0)22 2601 829Luke Leslie (CFO)
Nominated Adviser and Broker
Peel Hunt LLP +44 (0)20 7418 8900
Matthew Armitt / Ross Allister / Chris Burrows
Financial Public Relations
Tavistock +44 (0)20 7920 3150
Jos Simson / Emily Fenton / Barney Hayward
About Shanta Gold
Shanta Gold is an East Africa-focused gold producer, developer and explorer. It currently has defined ore resources on the New Luika, Nkuluwisi and Singida projects in Tanzania and holds exploration licences over a number of additional properties in the country. Shanta's flagship New Luika Gold Mine commenced production in 2012 and produced 87,713 ounces in 2016. The Company is admitted to trading on London's AIM and has approximately 766 million shares in issue.
For further information please visit: www.Shantagold.com.
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement via Regulatory Information Service, this inside information is now considered to be in the public domain.
ENDS