Update and Issue of Equity

Posted in 2014

The Company announces that the intended move of Goldcrest to the AIM market of the London Stock Exchange has been delayed whilst the Company considers the acquisition of additional assets in West Africa and seeks to further strengthen its Board. The Company looks forward to making further announcements in due course.

The Company has raised £100,000 before expenses through the issue of 181,818,181 new ordinary shares of 0.05p at a price of 0.055p each. Funds will be utilised for working capital purposes as the Company seeks to progress its existing and future interests.

Frederick Bell, Managing Director commented: “We are pleased to have received continuing support from investors as we seek to build our asset base including more advanced exploration projects. Market conditions have not been favourable for small exploration companies but we are confident that with the right team and the right assets Goldcrest is well-placed to take advantage of an upturn in the sector.”

Following the issue of the 181,818,181 new ordinary shares, Goldcrest has 1,039,893,786 Ordinary Shares in issue, which also represents the total number of voting rights in the Company. This figure should 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 FCA's Disclosure and Transparency Rules.


The Directors of the Issuer accept responsibility for this announcement.

 

--ENDS--

 

Goldcrest Resources plc

Frederick Bell,

Managing Director

Tel: 0755 4872 794

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John Watkins,

Chairman

Tel: 01483 771992

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Cairn Financial Advisers LLP

Avi Robinson / Jo Turner

Tel: 020 7148 7900