Institutional Fundraise of £1.1 million and TVR

In brief · summary, not quotable

Wishbone Gold Plc has successfully raised £1.1 million in gross proceeds through an institutional placing at 26.35 pence per share, issuing 4,174,573 new ordinary shares. Subscribers also received warrants on a one-for-two basis, exercisable at 40 pence within two and a half years. This funding will support exploration at its Western Australia projects, including Red Setter and the potential acquisition of the Silver Lake project. Following admission, the company's total voting rights will be 34,400,438 ordinary shares.

Full announcement

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Wishbone Gold Plc is pleased to announce it has raised gross proceeds of £1,100,000 in an institutional placing facilitated and arranged by Marex Financial at a placing price of 26.35 pence per share ("Placing Price") through the issue of 4,174,573 new Ordinary Shares of 0.1 pence par value each (the "New Ordinary Shares").

In addition, warrants have been issued to subscribers on the basis of one warrant for every two shares subscribed in the issue with a strike price of 40p per share, this being 50% above the placing price. These are exercisable within the period of two and a half years from the date of the placing.

Richard Poulden, Wishbone Gold's Chairman, stated:

"We were approached by an institutional investor through Marex who expressed a serious interest in our Western Australia projects. Red Setter is located only 20km from Greatland Resources' Telfer gold mine which is drilling more meters in 2026 than in Telfer's history. We have further tenement packages in that region which we have yet to explore. In addition, the analysis of the Silver Lake project which we recently announced we had signed an option to acquire is looking extremely promising. This fundraise will also cover the initial development of this prospect. Overall we are very excited for the coming year given our expanded drill programme at Red Setter and the prospects at Silver Lake."

Application is being made for the New Ordinary Shares, which will rank pari passu with the existing Ordinary Shares on issue, to be admitted to trading on the AIM and AQSE markets ("Admission"). Dealings in respect of 4,174,573 New Ordinary Shares are expected to commence on or about 29 April 2026 and the issue is subject only to Admission.

Total Voting Rights ("TVR")

The Company's total issued and voting share capital upon Admission will consist of 34,400,438 Ordinary Shares. 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 to their interest in, securities of the Company.

For more information on Wishbone, please visit the Company's website.

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