Variation to Subscription

In brief · summary, not quotable

Goldstone Resources Limited has entered into a deed of variation with Persistence Gold Group Limited regarding their strategic subscription, with the principal commercial terms remaining unchanged. Persistence will subscribe for 351,594,899 new ordinary shares at 1.0 pence per share, resulting in gross proceeds of £3,515,949 and a resulting shareholding of 20.96%. The amendments provide administrative flexibility for payment and extend the Long Stop Date from 20 July 2026 to 23 July 2026, with Admission of the new shares expected around 23 July 2026.

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GoldStone Resources Limited (AIM: GRL), the AIM-quoted gold producer and exploration company focused on Ghana, refers to its announcement of 6 July 2026 regarding the strategic subscription by Persistence Gold Group Limited ("Persistence").

The Company announces that it has entered into a deed of variation with Persistence amending certain administrative provisions of the Investment Agreement.

The principal commercial terms of the Subscription remain unchanged, including:

the subscription by Persistence for 351,594,899 new ordinary shares at 1.0 pence per share;
gross proceeds of £3,515,949;
Persistence's strategic investment in the Company; and
Persistence's right to nominate one Non-Executive Director to the Board, subject to the terms previously announced.

The amendments provide for:

confirmation of the final subscription amount and for a resulting shareholding of 20.96%;
flexibility for the subscription monies to be paid into the Company's nominated bank account as notified to Persistence; and
an extension of the Long Stop Date from 20 July 2026 to 23 July 2026.

The amendments are administrative in nature and have been agreed to facilitate the orderly completion of the Subscription. Save as set out above, all other terms of the Investment Agreement remain unchanged and continue in full force and effect.

Application has been made for the 351,594,899 Subscription Shares to be admitted to trading on AIM ("Admission"). Admission is expected to become effective at 8.00 a.m. on or around 23 July 2026. The Subscription Shares will rank pari passu in all respects with the Company's existing ordinary shares.

Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.