Financing Update

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Greatland Gold plc (LON:GGP), the London Stock Exchange AIM listed precious and base metals exploration and development business, is pleased to announce that the Company has raised £350,000 through a placing and subscription of shares in the Company.

Highlights:

·     Placing and subscription of 125,000,000 new ordinary shares of 0.1 pence each (“Ordinary Shares”) in the capital of Greatland at a subscription price of 0.28p per Ordinary Share, raising gross proceeds of £350,000 (the “Placing”);

·     Placing and subscription undertaken at a premium to the mid-market closing price of the Company as at 3 February 2017;

·     Issue of 125,000,000 warrants to subscribe for 125,000,000 new Ordinary Shares in Greatland at an exercise price of 0.45p per warrant, within a 12 month exercise period;

·     The net proceeds of the Placing will be used to accelerate exploration activity at Greatland’s portfolio of 100% owned, Austraiian-based projects and to provide the Company with a greater range of financing options for any potential acquisitions.

Gervaise Heddle, Chief Executive Officer, commented: “The funds raised today drive the Company’s cash balances to approximately £850,000 which provides considerable working capital to further advance our exploration plans at Ernest Giles, Bromus, Havieron and our Tasmanian projects. Moreover, the funds provide the Company with greater financial flexibility to negotiate with external parties in regards to new business opportunities.

Once again, we would like to thank our loyal base of existing shareholders, many of whom participated in this latest placing and subscription, for their encouragement and support.”

Placing and subscription summary

Greatland has agreed a placing and subscription to raise £350,000 of gross proceeds through the issue of 125,000,000 Greatland Ordinary Shares at price per share of 0.28p (the “Placing Shares”).

Each Placing Share issued has an accompanying unlisted and non-transferrable warrant to subscribe for an additional Greatland new Ordinary Share at a price of 0.45p at any time within the 12 months following admission to trading of the Placing Shares (representing the issue of a total of 125,000,000 warrants).  Should all of these warrants be exercised, a further £562,500 will be raised for the Company at a price of 0.45p.

The 125,000,000 Placing Shares are expected to be admitted to trading on, or around, 21 February 2017.  For the purposes of the Financial Conduct Authority’s Disclosure and Transparency Rules (“DTRs”), the issued ordinary share capital of Greatland following the issue and allotment of the Placing Shares comprises 1,806,349,845 Ordinary Shares with voting rights attached (one vote per share). There are no shares held in treasury.  This total figure of 1,806,349,845 may be used by shareholders as the denominator for the calculation by which they will determine whether they are required to notify their interest in, or a change to their interest in Greatland under the DTRs.

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