Lexington Gold Limited Notice of Special General Meeting (5713B)
05 Giugno 2023 - 8:00AM
UK Regulatory
TIDMLEX
RNS Number : 5713B
Lexington Gold Limited
05 June 2023
5 June 2023
Lexington Gold Ltd
("Lexington Gold" or the "Company")
Notice of Special General Meeting re
Proposed Acquisition of White Rivers Exploration (Pty) Ltd
Lexington Gold (AIM: LEX), the gold exploration and development
company with projects in North and South Carolina, USA, is pleased
to announce, further to its announcement of 15 May 2023 regarding
its proposed acquisition of 76 per cent. of White Rivers
Exploration Proprietary Limited ("WRE") (the "Proposed WRE
Acquisition "), the posting of a formal notice of the requisite
Special General Meeting of the Company ("SGM"). The SGM is to be
held at 10.00 a.m. (Bermuda time) at Clarendon House, 2 Church
Street, Hamilton HM11, Bermuda on 26 June 2023 to approve, inter
alia, the Proposed WRE Acquisition.
A letter from the Company's Non-Executive Chairman (the
"Chairman's Letter"), explaining why the Board is unanimously
recommending that Shareholders vote in favour of all resolutions to
be tabled at the SGM, accompanies the SGM notice which was posted
on 2 June 2023 and is available to download from the Company's
website at: www.lexingtongold.co.uk.
Highlights of the Proposed WRE Acquisition :
-- Proposed acquisition of WRE, an exploration and development
company, established by Mr Mark Creasy, with significant gold
assets in South Africa;
-- GBP6.7m consideration to be settled approximately 95% in
shares issued by the Company on a deferred basis and subject to 12
month lock-up and 12 month orderly market arrangements;
-- Cash element of consideration satisfied entirely via a one
year unsecured loan to the Company from Mr Creasy;
-- Mr Creasy's and Sunswell Holdings Pty Ltd 's existing loans
to WRE being acquired by the Company with a face value of
approximately GBP10m; and
-- Mr Creasy will potentially become the largest shareholder in
Lexington Gold on potential future exercise of certain transaction
and milestone related options.
Unless otherwise defined herein, all capitalised terms in this
announcement shall have the meanings given to them in the
Chairman's Letter.
For further information, please contact :
Lexington Gold Ltd www.lexingtongold.co.uk
Bernard Olivier (Chief Executive Officer) via Yellow Jersey
Edward Nealon (Chairman)
Mike Allardice (Group Company Secretary)
Strand Hanson Limited (Nominated Adviser) www.strandhanson.co.uk
Matthew Chandler / James Bellman / Abigail T: +44 207 409 3494
Wennington
WH Ireland Limited (Joint Broker) www.whirelandplc.com
Katy Mitchell / Enzo Aliaj T: +44 207 220 1666
Peterhouse Capital Limited (Joint Broker) www.peterhousecap.com
Duncan Vasey / Lucy Williams (Broking) T: +44 207 469 0930
Eran Zucker (Corporate Finance)
Yellow Jersey PR Limited (Financial Public www.yellowjerseypr.com
Relations) T: +44 7948 758 681
Charles Goodwin / Annabelle Wills / Soraya
Jackson
Note to Editors :
Lexington Gold (AIM: LEX) is a gold exploration and development
company currently holding interests in four diverse gold projects,
covering a combined area of approximately 1,675 acres in North and
South Carolina, USA. The projects are situated in the highly
prospective Carolina Super Terrane ("CST"), which has seen
significant historic gold production and is host to several
multi-million-ounce mines operated by majors. It was also the site
of the first US gold rush in the early 1800s, before gold was
discovered in California.
Further information is available on the Company's website:
www.lexingtongold.co.uk . Neither the contents of the Company's
website nor the contents of any website accessible from hyperlinks
on the Company's website (or any other website) is incorporated
into, or forms part of, this announcement.
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END
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