RE: Huge Rns missed by many4 Nov 2022 14:08
28 October 2022
ADM Energy PLC
("ADM" or the "Company")
Subscription Update and Issue of Equity
Following the Company's announcement on 17 October 2022, ADM Energy PLC (AIM: ADME; BER and FSE: P4JC), a natural resources investing company, is pleased to advise that the balance of the subscription proceeds of £400,000 (the "Subscription") from Tennessee Black Gold LLC ("Tennessee Black Gold" or the "Subscriber") has been provided in full.
The Subscription
As per the terms of the subscription agreement, the Company has raised £500,000 net through the issue of 41,666,667 new ordinary shares ("Subscription Shares") to Tennessee Black Gold at a subscription price of 1.2 pence per share, which will represent 14.0% per cent of the Company's enlarged issued share capital on Admission (defined below).