Barton Gold Holdings Limited: Results of Share Purchase Plan

Adelaide, Australia - Barton Gold Holdings Ltd. (ASX:BGD) (FRA:BGD3) (OTCMKTS:BGDFF) is pleased to confirm the final results of the Share Purchase Plan (SPP) that opened on 9 April 2024.

The SPP was strongly supported, and closed with significant overapplications in only 1 week.

Eligible applications received totalled $3.15 million (following final reconciliation and analysis).

The SPP offered all eligible shareholders the opportunity to acquire new Barton shares at the same price as the Company's recent institutional placement (Placement). Further to the Placement, Collins Street Asset Management became a ~6.9% substantial shareholder of Barton.

To recognise and reward the significant interest shown by existing shareholders, the Directors have resolved to accept a total of $2.25 million in SPP applications, equivalent to ~71.5% of eligible applications received prior to the early closing of the SPP Offer. Accordingly, a total of 9,375,023 new SPP shares will be issued pursuant to the SPP, for a total proceeds of $2,250,005.52 (before costs).

8,408,198 of the new SPP shares will be issued pursuant to the Company's available Listing Rule 7.1A capacity, with the 966,825 balance issued pursuant to the Company's available Listing Rule 7.1 capacity.

Scale back has been applied proportionally for each applicant, where each eligible applicant will receive ~71.5% of the amount of shares they validly applied for. The difference between the application monies received, and the value of SPP Shares allocated (number x Issue Price), will be refunded without interest.

Barton expects to issue the SPP shares Tuesday, 23 April 2024, with the shares to start trading on 24 April 2024, in accordance with the revised timetable set out in Barton's announcement of 16 April 2024.

Following the issuance of new SPP shares, there will be 218,456,999 fully paid ordinary shares on issue. Commenting on the final SPP results, Barton Managing Director Alex Scanlon said:

"The SPP outcome reflects an extraordinary vote of shareholder confidence in Barton's platform and strategy as we pursue the development of large scale gold production in South Australia. With Tunkillia commencing Scoping Studies and Tarcoola starting high-grade target drilling, the balance of 2024 should be quite interesting.

"Together with the ongoing sales tender for more than $4 million contained gold-in-concentrates, Barton is very well capitalised to pursue its target of continued regional growth and potential 'Stage 1' development pathways."

About Barton Gold Holdings Limited:

Barton Gold Holdings Ltd. (ASX:BGD) (FRA:BGD3) (OTCQB:BGDFF) is an ASX listed Australian gold exploration company with a total attributable ~1.1Moz Au JORC (2012) Mineral Resources endowment (28.74Mt @ 1.2 g/t Au), a pipeline of advanced exploration projects and brownfield mines, and 100% ownership of the only regional gold mill in the central Gawler Craton of South Australia.

Source:
Barton Gold Holdings Ltd.

Contact:

Alexander Scanlon Managing Director E: a.scanlon@bartongold.com.au T: +61 425 226 649 Shannon Coates Company Secretary E: cosec@bartongold.com.au T: +61 8 9322 1587