Warrant Conversions and Exercise of Options

28 January 2021

Panthera Resources Plc

(Panthera or the Company)

Warrant Conversion Commitments

Issue of Shares

Panthera Resources Plc (AIM: PAT), the diversified gold exploration and development company with assets in West Africa and India, is pleased to announce additional warrant conversions and the exercise of unlisted options to ordinary Panthera Shares.

Warrant Conversions

The Company announces that it has issued 1,777,935 new ordinary Panthera shares following the conversion of 1,777,935 warrants at an exercise price of 6.68 pence per warrant for gross proceeds of £118,766.  The warrant conversion was pursuant to the commitments announced on 14 December 2020.  All warrants pursuant to commitments as announced on 9 November 2020 and 14 December 2020 have now been exercised.

There are no transaction and advisory fees payable for the early conversion of the warrants.

Warrant Conversion Commitments

The Company announced on 9 November, 14 December and 24 December 2020 that 4,247,149 warrants were committed to be exercised early on or before a variety of days but none later than 31 January 2021.  All of the 1,777,935 warrants converted were subject to warrant conversion commitments.

A summary of the movements in warrant conversion commitments as at the date of this RNS is presented in the table below:

Exercise of Options

The Company also announces that it has issued 468,741 new ordinary Panthera shares following the exercise of 468,741 unlisted options at an exercise price of AUD 0.05 each (£0.0284).  The options were exercisable at AUD 0.05 on or before 1 July 2022.

Application for Admission

Application will be made to the London Stock Exchange for 2,246,676 new ordinary Panthera shares to be issued in respect of the above exercise of warrants and options, to be admitted to trading on the AIM market with admission expected to occur on or around 3 February 2021 (Admission).   The issued new ordinary Panthera shares will rank pari passu in all respects with the existing ordinary Panthera shares.

Following Admission of the new ordinary Panthera shares, the issued ordinary share capital of Panthera will consist of 90,712,703 Ordinary Shares. 

For the purposes of the Financial Conduct Authority's Disclosure and Transparency Rules (DTRs), the issued Ordinary Share capital of Panthera following this allotment consists of 90,712,703 Ordinary Shares with voting rights attached (one vote per share). There are no shares held in treasury. This total voting rights figure 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, Panthera under the DTRs.

Contacts

Subscribe for Regular Updates

Follow the Company on Twitter at @PantheraPLC

For more information and to subscribe to updates please visit: www.pantheraresources.com

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

Forward-looking Statements

This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterised by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; possible variations in ore grade or recovery rates; accidents, labour disputes, and other risks of the mining industry; delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events, or results not to be as anticipated, estimated, or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events, or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly, undue reliance should not be put on such statements due to the inherent uncertainty therein.