Last checked at 1 Aug 2023 07:00
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR
1st August 2023
Wishbone Gold Plc
("Wishbone" or the "Company")
Wishbone Gold Plc / Index: AIM: WSBN / Sector: Natural Resources / AQSE: WSBN
Equity Raise
Wishbone is pleased to announce it has raised £1.42m gross at a price of 2.4 pence per share and will be issuing a total of 59,059,997 new ordinary shares of 0.1 pence each (the "Ordinary Shares"). This represents an oversubscription of 42% against the initial target subscription of £1m.
The net proceeds will provide additional working capital for the Company but will primarily be used to fund the exploration programs on Red Setter and Cottesloe.
Richard Poulden, Wishbone Gold's Chairman, commented: "We are immensely grateful for the support of existing shareholders and new investors in the current challenging financial markets. We are looking forward to the next round of exploration based on the new analysis of Red Setter and Cottesloe."
Application will be made for the 59,059,997 new Ordinary Shares, which will rank pari passu with the existing Ordinary Shares in issue, to be admitted to trading on AIM and the AQSE Growth Market ("Admission"). Dealings are expected to commence on or about 7th August 2023 and the issue is subject only to Admission.
The Company's total issued and voting share capital upon admission of the new Ordinary Shares will consist of 257,972,865 Ordinary Shares. This figure may be used by shareholders 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, securities of the Company.
For more information on Wishbone, please visit the Company's website.
www.wishbonegold.com.
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For further information, please contact:
Wishbone Gold PLC | |
Richard Poulden, Chairman | Tel: +971 4 584 6284 |
Beaumont Cornish Limited | |
(Nominated Adviser and AQUIS Exchange Corporate Adviser) | |
Roland Cornish/Rosalind Hill Abrahams | Tel: +44 20 7628 3396 |
SP Angel Corporate Finance LLP | |
(Broker) | |
Ewan Leggat / Kasia Brzozowska | Tel: +44 20 3470 0470 |
J&H Communications Ltd | |
(Financial PR) | |
George Hudson | Tel: +44 7803 603130 |