RNS Number : 4238Y

Wishbone Gold PLC

06 September 2022

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 a s it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR")

6 September 2022

Wishbone Gold Plc

("Wishbone" or the "Company")

Wishbone Gold Plc / Index: AIM: WSBN / Sector: Natural Resources / AQSE: WSBN

Red Setter & Halo Exploration Expansion


Equity Raise of GBP2.375 million

Total Voting Rights

Wishbone Gold Plc (AIM: WSBN, AQSE: WSBN), is pleased to announce that following the recent and continued drill success at our Red Setter gold/copper project in WA and at Halo in QLD Australia, we plan to expand these programs.

Accordingly, we have raised additional funding to cover this expansion, which will be delineated in subsequent announcements.

Richard Poulden, Wishbone Gold's Chairman, commented, "We are gaining a much greater understanding of the mineralised formations at Red Setter with each hole we drill there. Drawing on knowledge from other proximate drilling campaigns in the Patterson Ranges, we are now expanding our exploration efforts in the coming weeks and this funding is to cover this. We also have had very encouraging results at Halo in Queensland. This placing significantly boosts the Company's balance sheet and allows us to bring in expanded drill programmes at Red Setter and funds a soon to commence drilling programme at our Cottesloe project to the south of Red Setter."

Equity Raise:

Wishbone is issuing a total of 22,946,860 new ordinary shares of 0.1 pence each (the "Ordinary Shares") at a price of 10.35 pence per share through a private placement brokered by Clear Capital Markets Ltd ("the Placing") to raise a total of GBP2.375m gross. The net proceeds will provide additional working capital for the Company for its expanded exploration program.

Pursuant to the Placing, the Company will also grant Investors a warrant to subscribe 1 New Ordinary Share in the capital of the Company for every two shares subscribed in the placing exercisable for a period of two (2) years from Admission of the Placing shares at a price of 20 pence per ordinary share.

The warrants have an accelerator clause whereby in the event that the ordinary shares of the Company close above 20 pence per share for 5 trading days during any ten day trading period then the Company has the right to require warrant holders to exercise all warrants held by them within 7 days. Any warrants not exercised when so required by the Company will automatically expire at the end of the 7 day period.

The Company has also issued broker warrants to Clear Capital Markets Ltd for 1,147,343 shares at a price of 10.35p per share exercisable for a period of two (2) years from Admission of the Placing shares.

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 or about 12 September 2022 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 196,742,073 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 .


For further information, please contact:

 Wishbone Gold PLC 
 Richard Poulden, Chairman               Tel: +971 4 584 
 Beaumont Cornish Limited 
 (Nominated Adviser and AQUIS Exchange 
  Corporate Adviser) 
 Roland Cornish/Rosalind Hill Abrahams   Tel: +44 20 7628 
 Peterhouse Capital Limited 
 Lucy Williams and Duncan Vasey          Tel: +44 20 7469 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.



(END) Dow Jones Newswires

September 06, 2022 04:21 ET (08:21 GMT)

Wishbone Gold (LSE:WSBN)
Graphique Historique de l'Action
De Nov 2022 à Déc 2022 Plus de graphiques de la Bourse Wishbone Gold
Wishbone Gold (LSE:WSBN)
Graphique Historique de l'Action
De Déc 2021 à Déc 2022 Plus de graphiques de la Bourse Wishbone Gold