TSTR Tri-star Resources Plc

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No. 596/2014 until the release of this announcement

25 June 2018

Tri-Star Resources plc ("Tri-Star" or the "Company")

Result of Placing

Tri-Star is pleased to announce that further to the announcement released at 7:00a.m. on 22 June 2018, the Company has successfully raised £13.0m (before expenses) by way of a placing (the “Placing”) of 30,232,558 new ordinary shares in the Company of 5 pence each (“Placing Shares”) at a price of 43 pence each (the “Placing Price”), conditional on approval from shareholders.

Details of the Placing

26,199,303 Placing Shares have been allocated to funds under the discretionary management of Odey Asset Management LLP (“the Odey Funds”) for £11.27 million and 4,033,255 Placing Shares for £1.73 million have been allocated to other existing shareholders and new investors.

The issue of the Placing Shares is subject to the approval of shareholders of resolutions to authorise the allotment of equity securities at the General Meeting which, as previously announced, is scheduled to take place at 10:00a.m. on 10 July 2018.

Application will be made for 30,232,558 Placing Shares, which will rank pari passu with the existing ordinary shares of 5p each in the Company (“Ordinary Shares”), to be admitted to trading on the AIM Market of the London Stock Exchange (“Admission”). It is expected that Admission will occur at 8:00a.m. on or around 12 July 2018.

Following Admission, the Odey Funds will hold 67,805,797 ordinary shares in the Company, representing approximately 72.06% per cent. of the Company’s total enlarged issued share capital.

ENDS

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