Acquisition and re-admission to AIM
We are pleased to announce the admission of Richland Resources to trading on the AIM Market of the London Stock Exchange. This is following the completion of its acquisition of Global Asset Resources Ltd which, via its wholly owned US subsidiary, holds a 51 per cent interest in and operatorship of four gold exploration projects in North and South Carolina in the United States.
The company’s admission follows a successful placing and subscription, raising gross proceeds of £3.33 million via the issue of, in aggregate, 120,989,112 common shares at a price of 2.75p per share.
PKF acted as reporting accountant on the transaction and the Capital Markets team included Mark Ling and Joseph Baulf.
“We were very pleased with the Capital Markets team at PKF on our readmission and acquisition of GAR. Given our chosen sector focus, we wanted to work with a reporting accountant with significant experience in the Natural Resources sector. PKF’s expertise and proactive support were important factors in enabling us to complete the acquisition and re-admission to AIM.”
Mike Allardice, Group Company Secretary | Richland Resources Ltd
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