RNS OUT6 Sep 2019 15:39
Fri, 6th Sep 2019 14:37
RNS Number : 5554L
Rambler Metals & Mining PLC
06 September 2019
6 September 2019
Rambler Closes Convertible Loan Note Financing with CEIII
London, England - Newfoundland and Labrador, Canada - Rambler Metals and Mining plc (AIM: RMM) ("Rambler" or the "Company"), a copper and gold producer, explorer, and developer, is pleased to announce that earlier today, it closed its previously announced financing transaction with CE Mining III Rambler Limited ("CEIII") of US$2.5 million in the form of unsecured convertible loan notes (the "Loan Notes"). Additional details on the terms of the Loan Notes and use of proceeds can be found in the Company's news release on August 19, 2019.
The Ordinary Shares issued pursuant to conversion of the Loan Notes will be subject to hold periods imposed in accordance with applicable securities laws which expire four months from the date of the closing. Subject to and pursuant to the exercise of conversion rights under the Convertible Loan Instrument, new Ordinary shares will be conditionally issued and allotted and application will be made to the London Stock Exchange plc for their admission to trading on AIM. As stated in the August 19 and August 22 news releases, the Company is required to convene a General Meeting where shareholders will be asked to vote on a resolution giving the Directors authority to allot and issue such number of Ordinary Shares on a non-pre-emptive basis as would satisfy full conversion of the Loan Notes. The Company is now expecting to circulate meeting materials to shareholders on or around the week of 9 September 2019.
This announcement has been posted on the Company's website at www.ramblermines.com.
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR'). Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.
ABOUT RAMBLER METALS AND MINING
Rambler is a mining and development company that in November 2012 brought its first mine into commercial production. Rambler has a 100 per cent ownership in the Ming Copper-Gold Mine, a fully operational base and precious metals processing facility and year-round bulk storage and shipping facility; all located on the Baie Verte peninsula, Newfoundland and Labrador, Canada.
Following the completion of its recent productivity improvement initiative Rambler's focus is on sustaining mine and mill production at over 1,350 metric tonnes per day at 2% Copper at the Ming Mine. With a return to profitability and positive cash flow, Rambler will continue advancing engineering studies and capital asset additions with a view to further increase production.
Along with the Ming Mine, Rambler also owns 100 per cent of the former producing Little Deer/ Whales Back copper mines and
Sign In
Follow the stocks
