Cadence Minerals #KDNC – Result of Placing & Subscription and TVR

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND, SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT ITSELF CONSTITUTE AN OFFER FOR SALE OR SUBSCRIPTION OF ANY SECURITIES IN THE COMPANY. THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES OF CADENCE MINERALS PLC IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL.

Cadence Minerals Plc

(“Cadence Minerals”, “Cadence” or the “Company”)

Result of Placing & Subscription and Total Voting Rights

Cadence Minerals (AIM/AQX: KDNC; OTC: KDNCY) is pleased to announce that it has successfully raised gross proceeds of £4.1 million in an oversubscribed fundraising as announced yesterday (the “Placing”).

A total of 19,512,180 Placing Shares in the Company have been placed by WH Ireland Limited (“WH Ireland”) with new and existing investors at a price of 20.5 pence per share (the “Issue Price”).

In addition, the Company has secured a further £0.1 million via a direct subscription (the “Subscription”) of 487,805 shares at the Issue Price (the “Subscription Shares”).

The fundraise was significantly oversubscribed in both the Placing and Subscription and the Directors of the Company are delighted by the support from existing shareholders and new investors, including institutional investors.

Application will be made to the London Stock Exchange for the Placing Shares and Subscription Shares to be admitted to trading on AIM and to the AQSE Growth Market and it is anticipated that dealings in the Placing and Subscription Shares will commence on AIM at 8.00 a.m. on 10 February 2022 (“Admission”). The Placing and Subscription Shares will represent approximately 11.9 per cent. of the Company’s issued share capital following completion of the Placing (“Enlarged Share Capital”). The Issue Price represents a discount of approximately 17.1 per cent. to the closing mid-market price of Cadence’s existing ordinary shares of 24.75 pence on 1 February 2022 (being the last business day prior to the announcement of the Placing yesterday).

Following Admission, the Company’s issued and fully paid share capital will consist of 168,049,083 Ordinary Shares, all of which carry one voting right per share. The Company does not hold any Ordinary Shares in treasury. The figure of 168,049,083 Ordinary Shares may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority.

Capitalised terms used but not defined in this announcement have the meanings given to them in the Company’s announcement released earlier today in respect of the Placing unless the context provides otherwise.

Enquiries:

This announcement includes inside information as defined in Article 7 of the UK version of Market Abuse Regulation No. 596/2014 as it forms part of UK law as retained EU law as defined in, and by virtue of, the European Union (Withdrawal) Act 2018, as amended, and is disclosed in accordance with the Company’s obligations under Article 17 of those Regulations.