23 Jun 2017 11:30
23 June 2017
Starvest Plc ("Starvest" or "the Company")
Warrant Exercise - Greatland Gold PLC
Starvest PLC (LON:SVE), the London Stock Exchange AIM listed specialist mining and resources investment business, is pleased to announce it has exercised warrants in investee company Greatland Gold PLC (LON:GGP).
Highlights
· Starvest exercises 50,000,000 warrants in Greatland Gold;
· Greatland remains a core holding for Starvest, and post warrant exercise Starvest will maintain 85,333,333 shares in Greatland;
· Very pleased with recent progress at Greatland's Ernest Giles and Havieron projects.
Callum Baxter, Chairman and CEO commented: "Starvest is very pleased with the recent developments at Greatland Gold, where I am also a director, including the agreement with global gold major Newmont, the increasing level of exploration activity in the Paterson region and announcement of the exciting new Panorama cobalt project. Greatland remains a core holding for Starvest and we look forward to following Greatland's progress closely.'
Exercise of Warrants
On 8 April 2016, the Company announced that it had acquired 50 million shares in Greatland Gold plc (AIM: GGP) ("Greatland"), taking its holding to 85,333,333 shares which then represented 7.2% of Greatland's issued share capital. As a subscriber for shares in the Greatland placing Starvest was awarded warrants to subscribe for Greatland shares at a price of 0.2p per share.
The Company announces that it has exercised its warrants to acquire 50 million shares at 0.2p per share. These shares replace 50 million Greatland shares that Starvest has sold in the market for approximately £340,000 so Starvest continues to hold 85,333,333 shares in Greatland. The profit from this transaction will be used to provide working capital for the Company and to enable it to continue to implement its investing policy.
Enquiries to:
Starvest PLC
Callum Baxter Chairman/CEO 07922 255 933 cbaxter@starvest.co.uk
John Watkins Finance Director 07768 512 404 jwatkins@starvest.co.uk
Grant Thornton UK LLP (Nomad)
Colin Aaronson or Harrison Clarke 02073 835 100
SI Capital Ltd (Appointed Broker)
Nick Emerson or Andy Thacker 01483 413 500
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.