Liberian owned gold explorer targeting highly prospective and under explored areas of Liberia, lists on London Stock Exchange today

Hamak Gold Limited (LSE:HAMA)

MONROVIA, LIBERIA, March 1, 2022 /EINPresswire.com/ -- NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN OR INTO AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, THE UNITED STATES, ANY TERRITORY OR POSESSION THEREOF OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.

Hamak Gold Limited

("Hamak Gold" or the "Company")

Admission to a Standard Listing and to trading on the Main Market of the London Stock Exchange

First day of dealings

Business highlights and Admission details

Hamak Gold Limited (LSE: HAMA) announces that 20,833,000 Ordinary Shares have today been admitted to a Standard Listing and to trading on the Main Market of the London Stock Exchange.

Business highlights

• Hamak Gold’s strategy focuses on exploration in highly prospective and under-explored areas of Liberia targetting hard rock sources of gold
• The Company holds two priority gold exploration licences, Nimba and Gozohn, with an option over five more licences (Lofa, Fasama, Cestos, Sinoe and River Gee), covering a combined area of 4,965 square kilometers
• The Nimba and Gozohn licences have significant artisanal gold mining activity which provides priority targets for detailed and high-impact exploration programmes
• Fast-track exploration strategy implemented to deliver early results from detailed geochemical sampling in the Nimba and Gozohn licences
• The Board and management team have significant experience, diverse backgrounds and extensive industry expertise in mineral exploration, development and mining operations and finance across Africa

Karl Smithson, Executive Director commented:

“Hamak Gold is a focussed gold exploration company with an exciting licence portfolio identified over greenstone belt geology in Liberia. Two of our licences, Nimba and Gozohn, are high-priority and exploration efforts will initially target areas of significant artisanal gold mining activity currently taking place within the licence areas.

“Personally, I am excited to be working with founding shareholder and Executive Chairman Amara Kamara and the rest of our Board in this new venture. I am highly impressed by the quality of the Board and management team and with the assets we have assembled at Hamak Gold.

“Our exploration strategy is designed to achieve early exploration success, however we also recognise that Liberia presents wider opportunities to grow Hamak Gold. Liberia deserves recognition as a highly attractive and prospective gold exploration destination. It has all the ingredients for success, in particular a supportive Government and attractive regulatory regime, in addition to the highly prospective, yet underexplored, geology.

“We look forward to keeping our new shareholders and the market regularly updated as we progress our exploration strategy in the shortest possible time frame.”

Admission details

Prior to Admission, the Company had 9,333,333 Existing Issued Ordinary Shares in issue and conditional on Admission issued 9,550,000 Placing Shares, 666,667 Conversion Shares and 1,283,000 Compensation Shares.

Capitalised terms used in this announcement are as defined in the prospectus published by the Company on 24 February 2022, unless the context otherwise requires. Such prospectus was published to allow for Admission of 9,333,333 Existing Issued Ordinary Shares, 9,550,000 Placing Shares, 666,667 Conversion Shares, 1,283,000 Compensation Shares and, following any relevant triggering event(s) from time to time, Secondary Admission of up to 2,520,000 Fee Shares and 17,940,000 Vesting Shares. A copy of the prospectus is available at the Company’s website, https://www.hamakgold.com.

The total number of Ordinary Shares in issue on Admission will be 20,833,000 and this number may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Disclosure Guidance and Transparency Rules.

The dealing codes for the Ordinary Shares will be as follows:
ISIN VGG4256S1048
SEDOL code BMDHNP7
TIDM HAMA
ISIN 213800KTOST6JI2R2865
The Company is incorporated and registered in the BVI under the BVI Business Companies Act, 2004 with company number 2062435.

For further information please contact:
Hamak Gold Limited
Amara Kamara
Nicholas Karl Smithson

+231 (0) 77 005 0005
+44 (0) 77 837 07971

Yellow Jersey PR
Tom Randell
Annabelle Wills
+44 (0) 20 7469 0930

Tom Randell
Yellow Jersey PR
+44 7948758681
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