Wishbone Gold Plc
AIM : WSBN

September 11, 2015 10:37 ET

Issue of Equity

11 September 2015

                                            Wishbone Gold Plc

                                    ("Wishbone Gold" or the Company")

                Wishbone Gold Plc / Index: AIM / Epic: WSBN / Sector: Natural Resources


                                             Issue of Equity 


Wishbone  Gold  Plc  (AIM: WSBN),  the AIM listed exploration and  acquisition  company  focused  on
identifying  and developing precious metal related acquisitions,  today announces that it has issued
396,849,229  shares  to  settle various outstanding debts,  fees,  expenses  and  loans  (the  "Debt
Settlement").  The Debt Settlement involves allotment of ordinary shares of 0.1p each in the Company
("Debt Settlement Shares")  at  a price of 0.25p per Debt Settlement Share  (the "Allotment Price"),
the same price at which £250,000 of new equity was raised 10 days ago.

Settlement of monies owed by the Company by way of the Debt Settlement is conditional upon admission
of such Debt Settlement Shares to trading on AIM.

Amounts owing and Debt Settlement Shares allotted include, inter alia:


  (a) Black Swan FZE is owed £810,541 (US$1,267,168) and such debt is to be settled by the allotment
      of 324,216,359 Debt Settlement Shares;

  (b) Easy Business Consulting is  owed  £28,500.95 (US$43,863.53) and such debt is to be settled by
      the allotment of 11,400,380 Debt Settlement Shares;

  (c) George Cardona is owed  £25,000 (US$38,475.50) and such debt is to be settled by the allotment
      of 10,000,000 Debt Settlement Shares;

  (d) Alan Gravett is owed £25,000 (US$38,475.50) and such debt is to be settled by the allotment of
      10,000,000 Debt Settlement Shares; and

  (e) The  Z/Yen  Employee Benefits Trust is  owed  £25,000 (US$38,475.50)  and such debt is  to  be
      settled by the allotment of 10,000,000 Debt Settlement Shares.


Application  has been made for the Debt Settlement Shares to be admitted to trading on AIM which  is
expected to occur on 17 September 2015.  Following the issue of the Debt Settlement Shares,  and for
the purposes of the Disclosure and Transparency Rules,  the Company's total issued share capital  on
Admission will consist of 759,900,464 Ordinary Shares.

Following the issue of the Debt Settlement Shares,  the holdings in the Company of the Directors and
significant shareholders, as defined by the AIM Rules, will be as follows:


----------------------------------------------------------------------------------------------------
Name                                      Number of Ordinary           Percentage of enlarged issued
                                                 Shares held                           share capital
----------------------------------------------------------------------------------------------------
Richard Poulden (1)                              417,226,971                                  54.91%
----------------------------------------------------------------------------------------------------
SVS Securities                                   100,000,000                                  13.16%
----------------------------------------------------------------------------------------------------
Global Resources Investment Trust                 49,042,171                                   6.45%
 Plc
----------------------------------------------------------------------------------------------------
Carousel Holdings International                   33,142,857                                   4.36%
 Limited
----------------------------------------------------------------------------------------------------
Jonathan Harrison (2)                             21,220,546                                   2.79%
----------------------------------------------------------------------------------------------------
George Cardona                                    18,609,163                                   2.45%
----------------------------------------------------------------------------------------------------
Michael Mainelli (3)                              11,696,721                                   1.54%
----------------------------------------------------------------------------------------------------
Alan Gravett                                      11,196,721                                   1.47%
----------------------------------------------------------------------------------------------------
Prevalence Capital Ltd (4)                        10,142,857                                   1.33%
----------------------------------------------------------------------------------------------------


  1. Richard Poulden is  deemed to be interested in 417,226,971 Ordinary Shares referred to above as
     follows  (and all such Ordinary Shares,  other than those of Black Swan Plc)  are registered in
     the name of Ashton Nominees Inc.):
       a) 2,000,000 Ordinary Shares held by Richard Poulden's infant children;
       b) 22,642,857 Ordinary Shares  held through the Formidable Trust,  a trust for the benefit of
          Richard Poulden and his family;
       c) 32,505,062 Ordinary Shares  held be Black Swan plc,  a Company of which Richard Poulden is
          the chairman and controls a majority of the shares; and
       d) 360,079,052 Ordinary Shares  held by Black Swan FZE  which is a wholly owned subsidiary of
          Black Swan plc.
  2. Jonathan Harrison is deemed to be interested in 21,220,546 Ordinary Shares referred to above as
     follows:
       a) 5,092,824 Ordinary Shares held in his own name; and
       b) 16,127,722  Ordinary  Shares held by Easy Business Consulting Ltd,  a  company  owned  and
          controlled by Jonathan Harrison.
  3. 11,696,721 Ordinary Shares are held by Hawksford Jersey Limited.  These shares are held for The
     Z/Yen  Employee Benefits Trust.  Michael Mainelli is a director of  Z/Yen Group Limited  and  a
     potential beneficiary of The Z/Yen Group Employee Benefits Trust.
  4. Prevalence  Capital Ltd is ultimately owned by Barry Everingham,  a director of  the  Company's
     subsidiary, Wishbone Gold Pty Ltd.


Chairman Richard Poulden said:

"This  completes  the  restructuring of Wishbone to leave it debt free and with  cash  to  fund  the
continuing exploration of its portfolio of Australian properties." 


Enquiries:

Wishbone Gold Plc                                                               www.wishbonegold.com

Richard Poulden, Executive Chairman                                              Tel: +971 4343 5134

Clive Hyman, Chief Financial Officer                                           Tel: +44 20 7562 7653
                                                                               Tel: +44 78 0263 4163

Sanlam Securities UK Limited

Simon Clements/Virginia Bull                                                   Tel: +44 20 7628 2200

Beaufort Securities Limited

Elliot Hance                                                                  Tel: + 44 20 7382 8300

Damson PR

Abigail Stuart-Menteth                                                          Tel: +44 7855 526550

Sandra Spencer                                                                  Tel: +44 7749 813717

Contact Information

  • Wishbone Gold Plc