02:00 Thu 20 Aug 2020
Wishbone Gold PLC - Funding Raised to Expand Exploration Program
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR")
("Wishbone" or the "Company")
Funding Raised to Expand Exploration Program onto
Further to Tuesday's announcement concerning the Wishbone II project this additional funding enables the company to restart exploration simultaneously on the
White Mountains is along strike from
Pursuant to the Funding, the Company will also grant each 2 Funding shares subscribed by
The warrants have an accelerator clause whereby if the price of the Company's shares is sustained at greater than 3p for five consecutive days the Company may choose to force execution of the warrants. The Company is obliged to write to each Warrant holder providing 7 calendar days' notice to exercise the warrants, after which each Warrant holder will have up to 14 days to pay for the exercise of their Warrants, subject to the terms of the Warrant Deed. The warrants will not be traded on an exchange.
Application will be made for the 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
Full technical details and news releases on the
Richard Poulden, Wishbone Gold's Chairman, commented,
"The money raised will allow Wishbone to enhance the
Total Voting Rights
The Company's total issued and voting share capital upon admission of the new Ordinary Shares will consist of 111,918,210 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 further information, please contact:
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Richard Poulden, Chairman |
Tel: +971 45 846 284 |
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(Nominated Adviser and AQUIS Exchange Corporate Adviser) |
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Tel: +44 20 7628 3396 |
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(Broker) |
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Tel: +44 20 7469 0930 |
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