REG - Greatland Gold PLC - Retail Offer by PrimaryBid

Greatland GoldAnnouncement

10/09/2024 17:00

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RNS Number : 6365D  Greatland Gold PLC  10 September 2024

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
THE MARKET ABUSE REGULATION (EU) 596/2014 (WHICH FORMS PART OF DOMESTIC UK LAW
PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR").

THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY, AND DOES NOT CONSTITUTE
OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION
OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY SECURITIES OF GREATLAND GOLD
PLC.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO ANY PERSON
LOCATED OR RESIDENT IN, ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE,
PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT.

THIS ANNOUNCEMENT AMOUNTS TO A FINANCIAL PROMOTION FOR THE PURPOSES OF SECTION
21 OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 ("FSMA") AND HAS BEEN
APPROVED BY PRIMARYBID LIMITED WHICH IS AUTHORISED AND REGULATED BY THE
FINANCIAL CONDUCT AUTHORITY (FRN 779021).

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO
THE UNITED STATES, CANADA OR JAPAN.

 

10 September 2024

 

Greatland Gold plc

("Greatland" or the "Company")

Retail Offer by PrimaryBid

●   Greatland announces a conditional offer for subscription of new
Ordinary Shares via PrimaryBid (https://www.primarybid.com/) ;

●   The Issue Price for the new Ordinary Shares is 4.8 pence per new
Ordinary Share, representing a discount of approximately 30 per cent to the
closing mid-price of the Company's existing Ordinary Shares on 6 September
2024 (the Company's shares were suspended on 9 September 2024);

●   Investors can take part through PrimaryBid's extensive network of
retail brokers, wealth managers and investment platforms, (subject to such
partners' participation);

●   The Retail Offer is available to both existing shareholders and new
investors;

●   The new Ordinary Shares to be issued pursuant to the Retail Offer and
the Placing will be sold at the Issue Price;

●   There is a minimum subscription of £250 per investor in the Retail
Offer;

 

Retail Offer

Greatland (AIM:GGP) is pleased to announce, a conditional offer for
subscription of new ordinary shares of 0.1 pence each in the capital of the
Company ("Ordinary Shares") via PrimaryBid (the "Retail Offer") at an issue
price of 4.8 pence per new Ordinary Share (the "Issue Price"), being a
discount of approximately 30 per cent to the closing mid-price of the
Company's existing Ordinary Shares on 6 September 2024 (the Company's shares
were suspended on 9 September 2024). The Company is also conducting a placing
of new Ordinary Shares at the Issue Price by way of an accelerated
bookbuilding process (the "Placing", together with the Retail Offer, the
"Equity Raising") as announced earlier today.

The Retail Offer is conditional on approval by the existing company
Shareholders of Resolution 1 set out in the Company's notice of meeting at the
general meeting to be held at Simmons & Simmons LLP, CityPoint, 1
Ropemaker St, London EC2Y 9SS at 10 a.m. on 30 September 2024. The Retail
Offer is further conditional on the new Ordinary Shares to be issued pursuant
to the Equity Raising being admitted to trading on AIM
("Admission"). Admission is expected to take place at 8.00 a.m. on 1 October
2024. The Retail Offer will not be completed without the Placing also being
completed. The Retail Offer is not conditional on completion of the
Acquisition (as defined below) or on readmission to trading on AIM following
completion of the Acquisition.

Greatland separately announced today that it, alongside certain of its wholly
owned subsidiaries have entered into a binding agreement with Newmont
Corporation to acquire, subject to certain conditions being satisfied, a 70%
ownership interest in the Havieron gold-copper project ("Havieron")
(consolidating Greatland's ownership of Havieron to 100%), 100% ownership of
the Telfer gold-copper mine, and other related interests in assets in the
Paterson region (the "Acquisition").

The net proceeds of the Retail Offer will be used for general working capital
purposes, while the net proceeds of the Placing will be used to part fund the
Acquisition.

Reason for the Retail Offer

While the Placing has been structured as a non-pre-emptive placing so as to
minimise cost and time to completion, the Company values its retail investor
base and is therefore pleased to provide retail investors with the opportunity
to participate in the Retail Offer.

Existing shareholders and new investors can access the Retail Offer through
PrimaryBid's extensive partner network of investment platforms, retail brokers
and wealth managers, subject to such partners' participation. A list of
PrimaryBid's distribution partners can be found here
(https://www.primarybid.com/uk/investors-broker-list) .

Some partners may only accept applications from existing shareholders and/or
existing customers.

After consideration of the various options available to it, the Company
believes that the separate Retail Offer is in the best interests of
shareholders, as well as wider stakeholders in the Company.

The Retail Offer will open to investors resident and physically located in the
United Kingdom following the release of this announcement. The Retail Offer is
expected to close at 4:45pm on 12 September 2024 and may close early if it is
oversubscribed.

There is a minimum subscription amount of £250 per investor in the Retail
Offer.

The Company reserves the right to scale back any order at its discretion. The
Company and PrimaryBid reserve the right to reject any application for
subscription under the Retail Offer without giving any reason for such
rejection.

Investors wishing to apply for new Ordinary Shares should contact their
investment platform, retail broker or wealth manager for details of their
terms and conditions, process (including for using their ISA, SIPP or GIA) and
any relevant fees or charges.

The new Ordinary Shares to be issued pursuant to the Retail Offer will be
issued free of all liens, charges and encumbrances and will, when issued and
fully paid, rank pari passu in all respects with the new Ordinary Shares to
be issued pursuant to the Placing and the Company's existing Ordinary Shares.

Brokers wishing to offer their customers access to the Retail Offer and future
PrimaryBid transactions, should contact partners@primarybid.com
(http://partners@primarybid.com) .

Enquiries

 Greatland Gold plc                                                              info@greatlandgold.com (mailto:info@greatlandgold.com)

 Shaun Day, Managing Director / Rowan Krasnoff, Head of Business Development

 PrimaryBid Limited                                                              enquiries@primarybid.com

 Nick Smith / James Deal

 SPARK Advisory Partners Limited (Nominated Adviser)                             +44 203 368 550

 Andrew Emmott / James Keeshan / Neil Baldwin

 Media Relations

 Fivemark Partners (Australia)

 Michael Vaughan                                                                 +61 422 602 720

 Gracechurch Group (UK)

 Harry Chathli / Alexis Gore / Henry Gamble

                                                                                 +44 204 582 3500

Important notices

The Retail Offer is offered under the exemptions from the need for a
prospectus allowed under the FCA's Prospectus Regulation Rules. As such, there
is no need for publication of a prospectus pursuant to the Prospectus
Regulation Rules, or for approval of the same by the Financial Conduct
Authority (as competent authority under Regulation (EU) 2017/1129 as it forms
part of retained EU law as defined in the European Union (Withdrawal) Act
2018).

The Retail Offer is not being made into the United States, Australia, Canada,
the Republic of South Africa, Japan or any other jurisdiction where it would
be unlawful to do so.

This announcement is not for publication or distribution, directly or
indirectly, in or into the United States of America. This announcement is not
an offer of securities for sale into the United States. The securities
referred to herein have not been and will not be registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold in the
United States, except pursuant to an applicable exemption from registration.
No public offering of securities is being made in the United States.

This announcement and the information contained herein, is restricted and is
not for publication, release or distribution, directly or indirectly, in whole
or in part, in or into Australia, Canada, the Republic of South Africa, Japan
or any other jurisdiction in which such publication, release or distribution
would be unlawful.  Further, this announcement is for information purposes
only and is not an offer of securities in any jurisdiction.

Investors should make their own investigations into the merits of an
investment in the Company. Nothing in this announcement amounts to a
recommendation to invest in the Company or amounts to investment, taxation or
legal advice.

It should be noted that a subscription for new Ordinary Shares and investment
in the Company carries a number of risks. Investors should contact their
investment platform, retail broker or wealth manager for details of any
relevant risk warnings. Investors should take independent advice from a person
experienced in advising on investment in securities such as the new Ordinary
Shares if they are in any doubt.

 

END

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