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ST HELIER, Jersey, March 31, 2023 (GLOBE NEWSWIRE) -- Caledonia Mining Corporation Plc (“Caledonia” or the “Company”) (NYSE AMERICAN: CMCL; AIM: CMCL; VFEX: CMCL) announces that, further to its announcements on March 24, 2023 regarding the Fundraise (as defined in the announcements), it has decided to extend the closing of the Zimbabwe Placing (as also defined in the announcements) from 12.00 p.m. on March 31, 2023 by up to a week due to a higher than anticipated level of demand from existing and new Zimbabwean institutional shareholders who wish to participate but require extra time to attend to their own administrative requirements. It is expected that, due to strong demand from existing Zimbabwean institutional shareholders, the Zimbabwe Placing will raise in excess of US$3milllion. A further announcement will be made next week regarding the closing of the Zimbabwe Placing, the funds raised and the shares and Zimbabwe depositary interests to be issued pursuant to the Placing.

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Note: This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation (EU) No. 596/2014 (“MAR”) as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

Cautionary Note Concerning Forward-Looking Information
Information and statements contained in this news release that are not historical facts are “forward-looking information” within the meaning of applicable securities legislation that involve risks and uncertainties relating, but not limited, to Caledonia’s current expectations, intentions, plans, and beliefs. Forward-looking information can often be identified by forward-looking words such as “anticipate”, “believe”, “expect”, “goal”, “plan”, “target”, “intend”, “estimate”, “could”, “should”, “may” and “will” or the negative of these terms or similar words suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Examples of forward-looking information in this news release include, for instance: expectations of funds raised by the Zimbabwe Placing. This forward-looking information is based, in part, on assumptions and factors that may change or prove to be incorrect, thus causing actual results, performance or achievements to be materially different from those expressed or implied by forward-looking information.