Besra Gold Inc: Announces Lodgment of Prospectus & Application for ASX Listing

Auckland, April 23, 2021 - Besra Gold Inc. ("Besra" or the "Company"), announces today that it has lodged with the Australian Securities and Investments Commission ("ASIC") its prospectus to raise between A$10 million and A$12.5 million by the issue of between 50,000,000 and 62,500,000 Chess Depository Interests ("CDIs") (each CDI will represent one common share in Besra) by Besra at A$0.20 per CDI ("Offer") Application has also been made to the Australian Securities Exchange ("ASX") to list the CDIs. The Offer is being arranged by Canaccord Genuity (Australia) Limited.

Funds raised pursuant to the Offer will be used primarily to significantly advance drilling and development plans at the Company's Bau gold project in E. Malaysia.

The prospectus is available to qualified investors at https://besraoffer.thereachagency.com/ and remains subject to a 7- to 14-day exposure period providing the ASIC and the market an opportunity to consider the disclosure document before the commencement of subscriptions for the CDIs pursuant to the Offer. The offers are made in the prospectus, and potential applicants should consider the prospectus in deciding whether to apply for CDIs. Applicants will need to complete the application form that will be contained in or will accompany the prospectus.

The prospectus is not to be construed as an offering in Canada. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction where such offer, solicitation or sale would be unlawful.

Presuming all regulatory and stock exchange approvals are obtained in a timely manner, it is expected that the Offer will close, and the CDIs called to trade on the ASX by the end of May 2021.

The prospectus also contains information regarding ancillary conversion offers to existing holders of unsecured convertible notes.

Existing Besra shareholders will be separately provided with information regarding conversion of their shares to CDIs for trading on ASX, subject to the admission of Besra to the official list.

For further information: Ray Shaw, Chief Executive Officer, E: ray.shaw@besra.com, John Seton, Executive Director, E: john@besra.com, James Hamilton, Investor Relations, jim@besra.com

Besra: www.besra.com

James W. Hamilton
Investor Relations Services
Phone: +1-416-471-4494
Email: jim@besra.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/81550