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DJ Wishbone Gold PLC Conversion of Sanderson Loan

TIDMWSBN

RNS Number : 7751L

Wishbone Gold PLC

31 December 2018

31 December 2018

Wishbone Gold Plc

("Wishbone" or the "Company")

Wishbone Gold Plc / Index: AIM: WSBN / Sector: Natural Resources / NEX: WSBN

Conversion of Sanderson Loan and issue of equity

Wishbone Gold Plc (AIM: WSBN, NEX: WSBN), the precious metals trading and exploration company, is pleased to announce the issue of 207,297,514 new ordinary shares of 0.1 pence each in the Company (the "Ordinary Shares") as a result of the conversion to equity of 63% of the outstanding loan with Sanderson Capital Partners Limited ("Sanderson"). This results in the conversion of GBP258,500 of the outstanding total Sanderson loan of GBP407,141 at a price of 0.1247 pence per Ordinary Share. The conversion price is determined by the 30 day moving average of the Company's share price as determined under the loan agreement.

Sanderson has agreed that it will not sell any of the Ordinary Shares without the permission of Wishbone. Sanderson's intention is to strengthen Wishbone's balance sheet and demonstrate support for the Company's strategy.

Application will be made for the new Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on 7 January 2019.

Following the admission of the new Ordinary Shares, the Company's total issued and voting share capital will comprise of 2,652,128,980 ordinary shares. This figure 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, securities of the Company.

Enquiries:

Wishbone Gold PLC

   Richard Poulden, Chairman                                  Tel: +44 207 812 0645 

Allenby Capital Limited

(Nominated Adviser and Joint Broker)

   Nick Naylor/Nick Harriss                                     Tel: +44 20 3328 5656 

Turner Pope Investments (TPI) Limited

(Joint Broker)

   Andy Thacker                                                       Tel: +44 20 3621 4120 

Damson Communications

(Public Relations)

   Abigail Stuart-Menteth/Rosie Quigley                 Tel: +44 20 7812 0645 

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December 31, 2018 02:00 ET (07:00 GMT)