Chaarat Gold Holdings Ltd Statement re. Suspension (9115D)

TIDMCGH

RNS Number : 9115D

Chaarat Gold Holdings Ltd

24 October 2022

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (which forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018).

24 October 2022

Chaarat Gold Holdings Limited

("Chaarat" or the "Company")

Confirmation of Discussions

Chaarat (AIM:CGH), the AIM-quoted gold mining company with assets in the Kyrgyz Republic and Armenia, notes recent media speculation and confirms that it is in discussions regarding the potential acquisition (the "Acquisition") of Lydian Armenia CJSC (the " Target ") from Lydian Canada Ventures Corporation.

The proposed Acquisition would constitute a Reverse Takeover as defined under the AIM Rules, due (among other things) to the size of the Acquisition. Accordingly, trading in Chaarat's shares will be suspended with immediate effect pending the publication of the required AIM Admission Document or an announcement that the potential Acquisition is not proceeding.

There is no certainty at this stage, that the proposed Acquisition will be completed. A further announcement will be made when appropriate.

Enquiries

 
                                       +44 (0)20 7499 
 Chaarat Gold Holdings Limited          2612 
 Mike Fraser (CEO)                     ir@chaarat.com 
 
 Canaccord Genuity Limited (NOMAD      + 44 (0)20 
  and Joint Broker)                     7523 8000 
 Henry Fitzgerald-O'Connor 
 James Asensio 
 
                                       +44 (0)20 7220 
 finnCap Limited (Joint Broker)         0500 
 Christopher Raggett 
 
 Panmure Gordon (UK) Limited (Joint    +44 (0)20 7886 
  Broker)                               2500 
 John Prior 
  Hugh Rich

About Chaarat

Chaarat is a gold mining company which owns the Kapan operating mine in Armenia as well as Tulkubash and Kyzyltash Gold Projects in the Kyrgyz Republic. The Company has a clear strategy to build a leading emerging markets gold company through organic growth and selective M&A.

Chaarat is engaged in active community engagement programmes to optimise the value of the Chaarat investment proposition.

Chaarat aims to create value for its shareholders, employees and communities from its high-quality gold and mineral deposits by building relationships based on trust and operating to the best environmental, social and employment standards. Further information is available at www.chaarat.com .

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