Richmond Hill Resources Plc - Sale of Subsidiaries

Richmond Hill Resources Plc - Sale of Subsidiaries

PR Newswire

LONDON, United Kingdom, March 21

Richmond Hill Resources Plc

("Richmond Hill " or the "Company")

Sale of Subsidiaries

Richmond Hill (AQSE: SHNJ), is pleased to announce that further to the announcement of February 3, 2025 the Company has entered in to an asset purchase agreement with Intergen I Limited Partnership, a Wyoming, USA, limited partnership ("Intergen I") to sell two of its subsidiaries. The two subsidiaries are Mazeray Corporation and STI signature Spirits Group LLC. The consideration for the sale is £1,000. At this stage no agreement has been entered in to with respect of the sale of Shinju Whiskey LLC and Shinju Spirits Inc. As previously stated the Company will seek approval from shareholders in due course for the future sale of the two remaining subsidiaries.

Intergen I is 50% owned by Ryan Dolder, Chief Executive Officer of the Company, and therefore the sale to Intergen I constitutes a related party transaction pursuant to the Aquis Growth Market Access Rulebook. Having considered the terms of the sale, and having exercised reasonable care, skill and diligence, Hamish Harris, the independent Director for the purpose of the sale to Intergen I, considers that Ryan's participation is fair and reasonable insofar as the shareholders of the Company are concerned.

The director of the Company accept responsibility for the contents of this announcement.

This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.

For further information, please contact:

The Company

Hamish Harris

[e-mail]

AQSE Corporate Adviser and Broker:

Peterhouse Capital Limited

[phone]

Joint Broker:

Clear Capital Limited

Bob Roberts [phone]

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