Stratex International PLC Goldstone Announces £1.5 M Subscription (9746R)

TIDMSTI

RNS Number : 9746R

Stratex International PLC

27 September 2017

27 September 2017

Stratex International Plc

("Stratex" or the "Company")

Goldstone Announces GBP1.5 M Subscription

Stratex International Plc, the AIM-quoted gold exploration and development company, advises that Goldstone Resources Limited ("Goldstone"), in which it currently holds a 22.97 per cent interest, has today announced that it has raised GBP1.5m before expenses by way of a subscription for new shares in Goldstone at a price of 1.5 pence per Goldstone share (the "Goldstone Subscription"). The Goldstone Subscription is conditional upon receiving the subscription proceeds. The proceeds of the Goldstone Subscription will be applied to Goldstone's operations and the general advancement of its corporate objectives.

The subscribers comprise new and existing shareholders of Goldstone, including BCM Investment Limited ("BCM") and Paracale Gold Limited. Goldstone has entered into a relationship agreement with BCM, as BCM will hold in excess of 20 per cent of Goldstone's voting rights once the Goldstone Subscription completes.

Upon completion of the Goldstone Subscription (expected to take place on 6 October 2017), Stratex's interest in Goldstone will be diluted to 13.74 per cent.

For further details, please see Goldstone's announcement at the following link http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/GRL/13376445.html

** ENDS **

For further information please visit www.stratexinternational.com, @StratexPLC on Twitter, email [e-mail], or contact:

 
 Stratex International Plc    Tel: [phone] 
 Marcus Engelbrecht / Claire Bay 
 Grant Thornton UK LLP        Tel: [phone] 
 Samantha Harrison / Daniel Bush 
 Hannam & Partners            Tel: [phone] 
 Neil Passmore / Andrew 
  Chubb 
 Camarco                      Tel: [phone] 
 Gordon Poole / Nick Hennis 
  / Monique Perks 
 

Notes to Editors:

Since listing in 2006, Stratex has discovered more than 2.2 million ounces of gold and 7.09 million ounces of silver, as well as 186,000 tonnes of copper. The Company owns 15% of a copper-gold project at feasibility stage and an exciting exploration project in Senegal. The Company also has significant interests in Goldstone Resources Ltd, Thani Stratex Resources Ltd and Tembo Gold Corp. for their exploration projects in Ghana, Djibouti and Egypt, and Tanzania respectively.

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.

This information is provided by RNS

The company news service from the London Stock Exchange

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September 27, 2017 06:08 ET (10:08 GMT)