Richland Resouces Ltd’s (now Lexington Gold Ltd’s) new common shares of US$0.003 each (New Common Shares) were admitted to trading on 25 November 2020 (“Admission“) following the acquisition of  Global Asset Resources Ltd (“GAR”) which, via its wholly owned US subsidiary, holds a 51 per cent. interest in and operatorship of four gold exploration projects (the “GAR Projects”) in North and South Carolina in the United States (the “Acquisition”). The Acquisition constituted a reverse takeover of the Company, pursuant to the AIM Rules.

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 (the “Fundraising”) at a price of 2.75p per share.  The net proceeds of the Fundraising will be utilised to satisfy the initial cash consideration in respect of the Acquisition and for the group’s planned initial two year work programme and requisite working capital requirements.

As announced on 23 November 2020 and as approved by Shareholders, the Company undertook a Share Consolidation, whereby every 10 Existing Common Shares were consolidated into 1 New Common Share. The Existing Common Shares have been cancelled from trading on AIM and the New Common Shares were admitted to trading on AIM with effect from 8.00 a.m. on 25 November 2020 under the new ISIN of BMG7567C1304. Following Admission, the Company has 261,478,810 Common  Shares in issue and holds a further 727,499 Common Shares in treasury.

 Capitalised terms used on this page carry the same meanings as those ascribed to them in the Company’s Admission Document dated 30 October 2020 and/or the Company’s announcement of 2 November 2020, unless the context requires otherwise.

The Admission Document and further information on the Company can be found on the Company’s AIM Rule 26 webpage

An overview of the Group’s projects and expenditure commitments can be found at the Group Overview page of this website.