Goldcrest Resources plc
("Goldcrest" or the "Company")
11 January 2017
Correction Re Issue of Equity and Change of Corporate Adviser
The announcement of yesterday, 10 January 2017 contained inaccuracies as
follows:
The Company stated that Taoudeni Resources Ltd holds the Company's Asheba Gold
Project ("Asheba"). In fact, Asheba is held by the Company's wholly owned
subsidiary, Ensign Resources Ltd, an Isle of Man company.
There remains a small loan of approximately £20,000 owing to Starvest plc.
The disclosable interests on completion of the issue of equity were not
accurately stated.
The re-stated announcement is as follows:
Issue of Equity and Change of Corporate Adviser
The Company announces that it has raised £217,000 before expenses through the
issue of 86,800,001 new ordinary shares of 0.05p at a price of 0.25p each.
Funds will be utilised for working capital purposes as the Company seeks to
progress its existing and future interests.
Additionally, the Company announces that a conversion notice has been sent to
Pelamis Investments Ltd, being sole owner of the Convertible Loan Note, as
announced 5th December 2016. The £70,000 will be fully converted into equity of
the Company through the issue of 28,000,000 new ordinary shares of 0.05p each,
also at 0.25p each per share.
Furthermore, the Company announces that it has agreed to settle £121,300 of
liabilities through the issue of 48,520,000 new ordinary shares of 0.05p, again
at 0.25p each per share. The Company is now debt free, save for a small loan of
approximately £20,000 outstanding and owing to Starvest plc, and accordingly,
the balance sheet has been strengthened, leaving the Company in a strong
position to focus on Ensign Resources Ltd, the Company's 100 per cent. owned
subsidiary, which holds the Company's flagship and prospective Asheba Gold
Project ("Asheba"), located in Ghana. The Company is now also in a strong
position to seek out other prospective gold projects.
Appointment of Corporate Adviser and Broker
The Company is pleased to announce the appointment of Peterhouse Corporate
Finance Ltd as its NEX Exchange Corporate Adviser and Broker with immediate
effect.
On completion of the placing, the following disclosable interests in the share
capital of the Company are as follows:
Name Amount of Ordinary Percentage
Shares
Hot Rocks Investments plc* 18,788,379 9.16
Woodland Capital Limited* 14,401,167 7.02
Gavin Burnell* 26,839,158 13,08
Peterhouse Corporate 4,000,000 1.95
Finance Ltd
Gledhow Investments plc 10,800,000 5.26
Plutus Strategies Limited* 10,947,273 5.33
*
Jeremy Edleman 10,000,000 4.87
Bailee Holding Ltd 10,000,000 4.87
Pelamis Investments Ltd*** 40,000,000 19.49
SVS (Nominees) Ltd 10,449,449 5.09
* Gavin Burnell is the managing director of Hot Rocks Investments plc
and Woodland Capital Limited.
** Plutus Strategies Limited is owned 50 per cent. by Paul Haywood, a
director of the Company and 50 per cent. by Niall Tomlinson, a director of the
Company.
*** David Steinepreis owns 39 per cent. of Pelamis Investments Ltd.
Paul Haywood, Managing Director commented: "The past year has been a
challenging time for the company and I would first like to thank all those that
have supported us to date and those that will be supporting the Company going
forward. The restructure, strengthening of the Board and raising of additional
capital perfectly positions the Company to now execute its growth plans and we
look forward to updating the market on associated actions in due course".
Following the issue of the 163,320,001 new ordinary shares, Goldcrest has
205,223,308 Ordinary Shares in issue, which also represents the total number of
voting rights in the Company. This figure should 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 to their interest in, the
Company under the FCA's Disclosure and Transparency Rules.
The Directors of the Issuer accept responsibility for this announcement.
For further information please contact:
The Company
Paul Haywood, Executive Director +44 (0) 20 3053 3631
paul@goldcrestresourcesplc.com
NEX Exchange Corporate Adviser +44 (0) 20 7469 0930
PETERHOUSE CORPORATE FINANCE LIMITED
Guy Miller
Mark Anwyl