Greatland Gold PLC (GGP.L) Result of Upsized Fundraise

Further to the announcements on 18 November 2021 in relation to the Fundraise, Greatland Gold plc (AIM:GGP), a mining development and exploration company with a focus on precious and base metals, is pleased to announce the successful completion of the Fundraise announced yesterday (the “Fundraise Announcement”).

Following strong demand in the bookbuild, the total gross proceeds from the Fundraise has increased from the minimum amount of approximately US$10 million to approximately US$16 million (£11.9 million). A total of 82,000,000 Placing Shares, Subscription Shares and Retail Shares have been placed at an Issue Price of 14.5p per New Ordinary Share. The Issue Price represents a discount of approximately 10.5 per cent to the closing mid-market share price of the Company’s ordinary shares on 17 November 2021.

Berenberg and Canaccord acted as Joint Bookrunners and SI Capital acted as Lead Manager in connection with the Placing.

Application will be made for the New Ordinary Shares to be admitted to trading on the AIM market of the London Stock Exchange plc. It is expected that Admission will become effective at commencement of trading on 24 November 2021 and settlement is expected to take place on the same date on a T+3 basis.

The Fundraise is conditional upon, inter alia, Admission becoming effective and the Placing Agreement not being terminated in accordance with its terms.

Total voting rights

Following Admission of the Placing Shares, Subscription Shares and Retail Offer Shares the total number of ordinary shares of the Company in issue will be 4,046,547,171. The Company does not hold any ordinary shares in treasury. Therefore the total number of voting rights in the Company will be 4,046,547,171 and 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 in their interest in, the share capital of the Company under the FCA’s Disclosure Guidance and Transparency Rules.

PDMR participation

The following directors and officers of the Company have agreed to participate in the Subscription as follows:

Other than where defined, capitalised terms used in this announcement have the meanings given to them in the announcements of the Company dated 18 November 2021.

Enquiries:

Greatland Gold PLC

Shaun Day

+44 (0)20 3709 4900

info@greatlandgold.com

www.greatlandgold.com


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