Greatland Gold Plc (AIM:GGP) Strategic Financing Raises £750,000

Greatland Gold plc (LON:GGP), the London Stock Exchange AIM listed precious and base metals exploration and development business, is pleased to announce that the Company has raised £750,000 through a placing of shares in the Company with sophisticated investors who specialize in investing in the mining and resources sector.

Highlights:

· Placing of 166,666,667 new ordinary shares of 0.1 pence each (“Ordinary Shares”) in the capital of Greatland at a placing price of 0.45p per Ordinary Share, raising gross proceeds of £750,000 (the “Placing”);

· Issue of 166,666,667 warrants to subscribe for 166,666,667 new Ordinary Shares in Greatland at an exercise price of 0.7p per warrant, within a 24 month exercise period;

· The net proceeds of the Placing will be used to accelerate exploration activity across Greatland’s portfolio of 100% owned, Australian-based projects;

· The funds raised increase the Company’s cash balances to approximately £1,500,000.

Gervaise Heddle, Chief Executive Officer, commented:

“I am pleased at the level of support for our oversubscribed placing of £750,000 and look forward to putting the funds raised to work within the Company by accelerating our exploration plans across the portfolio of 100% owned, Australian-based projects. We welcome our new shareholders onto our register and thank our existing shareholders for their continued support.”

Placing summary

Greatland has agreed a placing to raise £750,000 of gross proceeds through the issue of 166,666,667 Ordinary Shares at price per share of 0.45p (the “Placing Shares”).

Each Placing Share issued has an accompanying unlisted and non-transferrable warrant to subscribe for an additional Greatland new ordinary share at a price of 0.7p at any time within the 24 months following admission to trading of the Placing Shares (representing the issue of a total of 166,666,667 warrants). Each warrant will include an accelerated exercise condition (“Accelerator”) such that in the event the that the Company’s volume weighted average share price exceeds 1.0p for a period of five consecutive trading days the Company shall be entitled to give holders of the warrants 5 business days’ notice that the warrants must be exercised within a further 10 business days, following which they will otherwise expire. Should all of these warrants be exercised, a further £1,166,666 will be raised for the Company at a price of 0.7p.

The 166,666,667 Placing Shares are expected to be admitted to trading on, or around, 4th October 2017. For the purposes of the Financial Conduct Authority’s Disclosure and Transparency Rules (“DTRs”), the issued ordinary share capital of Greatland following the issue and allotment of the Placing Shares comprises 2,245,201,748 Ordinary Shares with voting rights attached (one vote per share). There are no shares held in treasury. This total figure of 2,245,201,748 may be used by shareholders as the denominator for the calculation by which they will determine whether they are required to notify their interest in, or a change to their interest in Greatland under the DTRs.

In connection with the placing, and conditional on the Admission of the Placing Shares, Salonica Capital will also receive an unlisted and non-transferrable warrant to subscribe for 10,000,000 Greatland new ordinary shares at a price of 0.7p at any time within the 24 months following the admission to trading of the Placing Shares that will include the Accelerator described above.

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