Chesterfield Resources Raises £375,000 and Sells Part of Sterling Metals Stake
Chesterfield Resources PLC has raised £375,192 through the allotment of 31,266,000 new ordinary shares at £0.012 per share to a director. Each share comes with one warrant, exercisable at £0.02 per share for five years.
Highlights
· £375,192 raised at a price of £0.012 per New Ordinary Share (the “Issue Price”), representing a premium of approximately 50% to the closing mid-market price at 8 Oct 2025. .
· Purchaser (as defined below) will receive one warrant for each New Ordinary Share exercisable at £0.02 (the ” Warrants”). Warrants are exercisable for a period of five years from the date of issue.
· Sale by the Company of 443,000 shares in Sterling Metals Corp (TSXV:SAG) for approximately a gross consideration of CAD980,000. The Company will retain 400,000 shares in Sterling Metals.
In addition, the company sold 443,400 shares in Sterling Metals Corp, generating gross proceeds of approximately CAD$980,000, while retaining 400,000 shares.
Combined, the fundraise and partial Sterling Metals disposal will provide Chesterfield with around £900,000 in additional cash, with further proceeds expected from future share sales.
Following admission, the company’s issued share capital will total 187,594,311 ordinary shares, with the new shares representing 16.7% of the enlarged share capital.
Kashif Afzal, Executive Chairman of Chesterfield commented:
“We are delighted to welcome our new strategic investors at a material premium to our prevailing share price, evidencing their confidence and commitment to supporting a strategic transformation of Chesterfield. The investors are led by an entity affiliated with Arowana (https://arowanaco.com), a leading B Corp investment group helmed by its founder, Kevin Chin, and includes a family office connected with a ruling family in the United Arab Emirates. This group has previously co-invested in public companies with a view to transforming their future trajectories. A recent example is VivoPower International PLC (“VivoPower”) which has experienced a share price increase exceeding 500% over the past 12 months.
We look forward to working closely with Kevin Chin and the broader group, to leverage their expansive global rolodex as we seek to unearth new opportunities for Chesterfield, both in terms of businesses as well as additional high calibre investors. We will update shareholders as we execute on any strategic developments.
