Greatland Gold PLC (GGP.L) Proposed Placing and Subscription

Greatland Gold plc (AIM:GGP), a mining development and exploration company with a focus on precious and base metals, is pleased to announce that it intends to raise a minimum amount of approximately US$10 million (£7.4 million) by way of a Placing, Subscription and Retail Offer (as defined below) at a price of 14.5p per new Ordinary Share (the “Issue Price”).

The placing of new ordinary shares of nominal value £0.001 each in the capital of the Company (the “Placing Shares”) will be conducted through an accelerated bookbuild process (the “Bookbuild”), which will be launched immediately following release of this announcement (the “Announcement”) and will be made available to new and existing eligible institutional investors (the “Placing”). The Placing is subject to the Terms and Conditions set out in the Appendix to this Announcement.

In conjunction with the Placing, the Company announces its intention to raise gross proceeds of up to US$145,000 (£107,000) at the Issue Price by means of a direct subscription of New Ordinary Shares (the “Subscription Shares”) by directors and officers of the Company (the “Subscription”).

The Directors recognise the importance of giving retail shareholders and investors an opportunity to participate in the Company’s ongoing funding should they be unable to participate in the Placing. Consequently, in conjunction with the Placing and Subscription, there will be an offer made by the Company on the PrimaryBid platform of new ordinary shares in the Company (the “Retail Offer Shares”) at the Issue Price (the “Retail Offer”), to provide certain retail investors with an opportunity to participate in the Fundraise. A separate announcement will be made shortly regarding the Retail Offer and its terms (the Placing, the Subscription and Retail Offer together the “Fundraise”).

Joh. Berenberg, Gossler & Co. KG, London Branch (“Berenberg”) and Canaccord Genuity Limited (“Canaccord”) are acting as joint bookrunners (together being the “Joint Bookrunners”) and SI Capital Ltd (“SI Capital”) is acting as lead manager (“Lead Manager”) in connection with the Placing.

Summary and Highlights of the Fundraise

  • Intention to conduct a Fundraise utilising its existing authorities to raise minimum gross proceeds of approximately US$10 million (approximately £7.4 million) at the Issue Price
  • The Issue Price represents a discount of approximately 10.5 per cent. to the closing mid-market share price per New Ordinary Share on 17 November 2021, being the last practicable date prior to publication of this Announcement
  • The Company intends to use the net proceeds of the Fundraise to:
  • fast track the development of the Company’s flagship asset, the Havieron gold-copper deposit (“Havieron”), in conjunction with joint venture partner Newcrest Mining Limited (“Newcrest”);
  • execute the resource growth roadmap including growth drilling at Havieron and to explore the wider Havieron breccia system;
  • accelerate exploration activities on the Company’s 100%-owned licenses to target new discoveries similar to Havieron in the Paterson region; and
  • to pay certain costs associated with working capital and general corporate purposes.
  • The Company intends to use any net proceeds from the Fundraise in excess of US$10 million to accelerate Havieron growth drilling expenditure and accelerate certain planned exploration activities on Greatland’s 100% owned tenements.
  • The Company is concurrently progressing discussions with several Tier 1 global banks with the aim of providing significant additional funding to the Company for the development of Havieron in the medium-term. To date, the Company has received several indicative term sheets from banks and discussions are ongoing. The Company will continue to update the market on progress as appropriate.
  • The Directors and Officers of the Company intend to subscribe for an aggregate of US$145,000 (approximately £107,000), including Shaun Day, Chief Executive Officer who intends to subscribe for 375,000 Subscription Shares.
  • The final number of Placing Shares, Subscription Shares and Retail Offer Shares issued pursuant to the Fundraise will be determined following the close of the Bookbuild.

Shaun Day, Chief Executive Officer of Greatland Gold plc, commented: ” Successful completion of this raising will be a significant milestone in the growth of Greatland. The raising forms part of our strategy of delivering value to our shareholders through the ongoing development of Havieron and our broader exploration portfolio. We are particularly excited by the opportunity to fast track some of our development initiatives through this financing.

The Greatland team appreciates the participation of our existing shareholders for their continued support, as well as welcome new investors, that may participate and join us in this journey. We look forward to continued success for the benefit of all our shareholders.”

Enquiries:

Greatland Gold PLC

Shaun Day

+44 (0)20 3709 4900

info@greatlandgold.com

www.greatlandgold.com


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