Schedule One - Artemis Resources Ltd | RNS | Ticker

Schedule One - Artemis Resources Ltd

RNS Announcement

RNS Number : 2365Z

AIM

24 January 2022

ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM RULES")

COMPANY NAME:

Artemis Resources Ltd

COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS (INCLUDING POSTCODES) :

Level 8

99 St Georges Terrace

Perth WA 6000

Australia

COUNTRY OF INCORPORATION:

Australia

COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26:

https://artemisresources.com.au/

COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING POLICY). IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED:

Artemis Resources Limited is an ASX listed mining exploration and development company, led by an experienced team that is focused on delivering shareholder value from its 100% owned projects based in the Pilbara region of Western Australia - the Greater Carlow Gold-Copper-Cobalt Project in the West Pilbara and the Paterson Central exploration project in the East Pilbara. The Company also owns the Radio Hill processing plant that is currently on care and maintenance. This plant is strategically located only 35km from the Greater Carlow Project.

The Company's flagship exploration project is the 100% owned Paterson Central Gold-Copper Project which covers 605 km² and is located in the Yaneena Basin of the Paterson Province. The Company is actively exploring the Paterson Central Gold-Copper Project which is situated adjacent to the world-class Havieron Copper-Gold Discovery. In November of 2021 the Company commenced its inaugural exploration programme at the Atlas and Apollo sites which are interpreted by Company geologists to sit within the same geological and structural corridor as the Havieron Gold-Copper Discovery. As at the date of Admission, four holes have been completed under the Company's Phase One Drill Programme to a depth of between 623m and 810m and, while the Company is waiting on assay drill results, drilling hits show highly encouraging geology, including Hole GDRCD007 drilled from the Apollo target which intersected several zones of particularly encouraging geology. The Company will continue with its current and planned drill programmes in 2022 once local climatic conditions permit, expected to be in March 2022.

Artemis' other advanced exploration and development project is the Greater Carlow Project, which is located 35km south of Karratha and includes the Carlow Castle gold deposit and the Radio Hill processing plant. At Carlow Castle, the Company has a JORC compliant Inferred mineral resource estimate (as at 14 May 2021) of 14.3 Mt @ 0.7 g/t Au, 0.4% Cu and 0.05% Co. The May 2021 resource statement was calculated from a total of 330 drillholes drilled at Carlow Castle between 2017 and 2021, comprising 23 diamond and 307 reverse circulation drillholes for 47,139m. The wider Carlow Project area has historically had very limited exploration work and continues to be highly prospective for gold and copper, including in respect of a recently identified high priority exploration target at Chapman. The Company drill tested many high priority exploration targets between July and September 2021 in a major c. 14,000m reverse circulation drilling exploration campaign. The Company is currently working with its resource consultants on a re-interpretation of the Carlow resource estimate to take into account the results of this drilling campaign and a new geological model of the deposit itself. The results of this exercise are expected to be available later in H1 of 2022.

Over the past two years the Company has substantially progressed its strategy of divesting non-core tenements into indirect holdings and simplifying the Company's portfolio to focus on the two Pilbara projects:

- In March 2020, the Company divested its Purdy's Reward and 47k Patch tenements to Novo Resources Corp and other parties.

- In December 2021, the Company entered into a binding heads of terms with Alien Metals Ltd (AIM:UFO) to dispose of its 70% joint venture interest in the Munni Munni Platinum Group Metals and Gold Project in West Pilbara, Western Australia to Alien Metals Ltd.

- In January 2022, the Company divested several non-core assets to GreenTech Metals Limited (ASX:GRE) and holds 6,750,00 shares in Greentech, representing approximately 14.8% of GreenTech's issued share capital.

- Additionally, Artemis entered into two farm-in and joint venture agreements for GreenTech to earn up to a 51% interest in, and establish a joint venture with Artemis in respect of the Osborne Project, and earn up to a 100% interest in the Whundo Project.

DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO TRANSFER OF THE SECURITIES (i.e. where known, number and type of shares, nominal value and issue price to which it seeks admission and the number and type to be held as treasury shares):

TBC ordinary shares of no par value at an Issue price of TBC pence

There are no shares to be held as treasury shares and there are no restrictions as to transfer of the securities.

CAPITAL TO BE RAISED ON ADMISSION (AND/OR SECONDARY OFFERING) AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION:

£TBC million via a placing of new ordinary shares

Market capitalisation on admission based on an issue price of TBC pence of approximately

£TBC million

PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:

TBC per cent

DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM SECURITIES (OR OTHER SECURITIES OF THE COMPANY) ARE OR WILL BE ADMITTED OR TRADED:

The Company's Ordinary Shares are currently listed on the Australian Stock Exchange ("ASX") under the ticker "ARV" and will continue to be listed and traded on the ASX following Admission.

The Company also has shares admitted to trading on the Frankfurt Stock Exchange and the OTCQB Market operated by OTC Markets Group in the US, under the tickers "ATY" and "ARTFF" respectively.

FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining the first name by which each is known or including any other name by which each is known):

Mr Mark Roderick Potter	Non-Executive Chairman
Mr Alastair Raoul Clayton	Executive Director
Mr Guy Adrian Robertson	Chief Financial Officer
Mr Edward Clinton Mead	Non-Executive Director
Mr Daniel (Dan) John Edward Alexander Durston Smith	Non-Executive Director
Dr Simon Charles Dominy	Non-Executive Director

FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER ADMISSION (underlining the first name by which each is known or including any other name by which each is known):

Shareholder	% before Admission	% on Admission
Jupiter Asset Management	7.3	TBC
Mr Michael Soulos	4.5	TBC
Mr Christian Ambrose	4.1	TBC
Capital International IOM	3.0	TBC

NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES:

None

(i) ANTICIPATED ACCOUNTING REFERENCE DATE

(ii) DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited interim financial information)

(iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS PURSUANT TO AIM RULES 18 AND 19:

(i) The current accounting reference date of the Company is 30 June.

(ii) 30 June 2021 which is the date of the last set of audited financial statements.

(iv) Accounts for 6 months period ending 31 December 2021 (to be notified by 31 March 2022); Accounts for 12 months period ending 30 June 2022 (by 31 December 2022);

Accounts for 6 months period ending 31 December 2022 (by 31 March 2023).

As an existing ASX listed company, the Company also prepares and publically releases quarterly activities and cashflow reports.

EXPECTED ADMISSION DATE:

7 February 2022

NAME AND ADDRESS OF NOMINATED ADVISER:

WH Ireland Limited,

24 Martin Lane,

London,

EC4R 0DR

NAME AND ADDRESS OF BROKER:

WH Ireland Limited,

24 Martin Lane,

London,

EC4R 0DR

OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES:

The Admission Document, which will contain full details about the applicant and the admission of its securities, will be available on the Company's website at https://artemisresources.com.au/ from the date of the Company's Admission.

THE CORPORATE GOVERNANCE CODE THE APPLICANT HAS DECIDED TO APPLY

The Corporate Governance Principles and Recommendations (4th Edition) published by the ASX Corporate Governance Council.

DATE OF NOTIFICATION:

24 January 2022

NEW/ UPDATE:

New

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

PAAEAFFFAFNAEFA

RNS metadata

Title: Schedule One - Artemis Resources Ltd
Time: 08:00:02
Date: 24 Jan 2022
Category: Capital structure
ID: 2365Z