Update On The Consideration Receivable For The Sale Of Kilimapesa Gold (Pty) Limited ('Kilimapesa')

Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration

31 August 2021

Goldplat plc ('Goldplat' or 'the Company')

Update on the Consideration Receivable for the Sale of Kilimapesa Gold (Pty) Limited ('Kilimapesa')

Goldplat plc, the AIM quoted gold producer, with international gold recovery operations located in South Africa and Ghana, is pleased to provide an update on the consideration receivable on the sale of Kilimapesa to Mayflower Gold Investments Limited ('Mayflower Gold').

Subsequent to the Company's announcement on, 20 August 2021, Papillon Holdings plc, renamed as Caracal Gold plc ("Caracal") announced that today, 31 August 2021, at 08:00, its ordinary shares commenced trading on the Main Market for listed securities of the London Stock Exchange plc ('LSE') under the ticker GCAT with a contemporaneous dual listing on the Frankfurt Stock Exchange, following completion of the reverse takeover of Mayflower Gold.

Goldplat has received 103,846,154 shares in Caracal (representing 7.17% of its issued share capital) as consideration for the sale of Kilimapesa, to be held for minimum of 12 months. In addition, the Group is due to receive a further cash payment of USD450,000 in the next two weeks and is also entitled to a 1% net smelter royalty, limited to USD1,500,000, of which circa USD14,000 is already payable.

Werner Klingenberg, CEO of Goldplat commented: "I am pleased to announce the completion by Caracal of the reverse takeover of Mayflower Gold and Caracal commencing trading on the LSE's Main Market, which is the last step in the transaction which included the sale of Kilimapesa Gold.