Resolute Mining Limited (Resolute or the Company) (ASX/LSE: RSG) advises the Company has issued 14,983,476 shares as part of the second tranche of the Company's January 2020 Equity Raising and 23,000,000 shares to fund the US$12 million acquisition of the royalty over the Mako Gold Mine in Senegal (Mako Royalty) from Taurus Funds Management Pty Limited.

Resolute launched a A$195 million Equity Raising in January 2020. The Equity Raising comprised a two-tranche placement and share purchase plan (SPP) both of which received strong support from new and existing shareholders. The Tranche 1 Institutional Placement shares and the SPP shares were issued on 30 January 2020 and 3 March 2020 respectively.

The Tranche 2 placement shares were approved by the Company's shareholders at an Extraordinary General Meeting (EGM) held in February 2020. The EGM approved the issue of a total of 22,727,273 Tranche 2 shares at a price of A$1.10 per share which included allocation of shares to ICM Limited or its nominees (ICM) and the approval of applications for shares in the Equity Raising from Resolute's Managing Director & CEO, Mr John Welborn, Resolute's Non-Executive Chairman, Mr Martin Botha, and Resolute Non-Executive Directors Ms Yasmin Broughton and Ms Sabina Shugg.

The issue of 14,983,476 Tranche 2 placement shares at a price of A$1.10 includes 14,583,475 shares allotted to ICM and 400,001 shares allotted to Resolute Directors. A further 7,743,797 shares will be issued to ICM at a price of A$1.10 at the end of April 2020 to complete the Tranche 2 placement and finalise the A$195 million Equity Raising.

Resolute has completed the acquisition of the Mako Royalty through the issue 23,000,000 shares at a price of A$0.845 per share. The royalty had an agreed termination value of US$12 million with consideration to be paid in cash or in Resolute shares. Released along with this announcement is a Cleansing Notice, Appendix 2A, Appendix 3B, and Appendix 3Ys for Mr John Welborn, Mr Martin Botha, Ms Yasmin Broughton and Ms Sabina Shugg.

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