Business
Issue of new shares in lieu of fees
Issue of new shares in lieu of fees.
About this update from Guardian Metal Resources Plc
[{"type":"text","content":"\n\n2 August 2023\nGolden Metal Resources plc\n('Golden Metal' or the 'Company')\nSettlement of Fees - Issue of Equity\nGolden Metal Resources plc (LON:GMET), a mineral exploration company focused on tungsten, gold, copper and silver within Nevada, USA, announces the settlement of certain professional and marketing fees through the issue of equity.\nGolden Metal has agreed with two suppliers of professional and marketing services with invoice values totalling £52,500, that their fees will be settled through the issue of 617,647 new Golden Metal ordinary shares of 1.0p each (\"Fee Shares\") valued at 8.5p per share.\nOliver Friesen, Chief Executive Officer of Golden Metal commented:\n\"It is a positive step for Golden Metal to settle fees for equity at the current market mid-price, helping to preserve cash within the business which can in turn be used for investment in exploration and development work, notably at our flagship Pilot Mountain Project located in Nevada, USA, which hosts what we believe to be the largest undeveloped tungsten deposit in the USA.\n\"Our corporate and project-based work programmes continue at pace and further updates are expected in the coming weeks.\"\nAdmission and Total Voting Rights\nApplication will be made for the 617,647 Fee Shares to be admitted to trading on AIM, which is expected to occur on or around 8 August 2023 (\"Admission\"). The Fee Shares will rank pari passu in all respects with the Company's existing ordinary shares currently traded on AIM.\nFollowing Admission, the Company's issued share capital will comprise 85,617,902 ordinary shares of 1 pence each. This number will represent the total voting rights in the Company and may be used by shareholders as the denominator for the calculation by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.\nThis announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (\"MAR\"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.\nFor further information visit www.goldenmetalresources.com or contact the following:\n\n\n\n...