LONDON, UNITED KINGDOM--(Marketwired - Aug 27, 2015) -

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

Wishbone Gold Plc (WSBN.L) ("Wishbone Gold" or the Company"), the AIM listed exploration and acquisition company focused on identifying and developing precious metal related acquisitions, today announces that it has raised £250,000 (before expenses) through a placing via its broker, Beaufort Securities Limited, of 100,000,000 new ordinary shares of 0.1p each ("New Ordinary Shares") at a price of 0.25p per ordinary share ("the Placing").

The proceeds of the Placing will be used for general working capital purposes.

As set out in the Company's final results for the year ended 31 December 2014, which were released on 30 June 2015, the Company also intends to convert certain director and shareholder loans into equity in the future to preserve cash and reduce running costs.

The Company has made an application for the New Ordinary Shares to be admitted to trading on AIM. It is expected that admission will become effective on 11 September 2015 ("Admission").

Following the issue of the New Ordinary Shares, and for the purposes of the Disclosure and Transparency Rules, the Company's total issued share capital on Admission will consist of 363,051,235 Ordinary Shares.

The above 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, the Company, under the Disclosure and Transparency Rules.

Chairman Richard Poulden said:

"It is great to have the support of the City backing precious metals, in particular gold, at this counter cyclical moment."