ECR Minerals Regulatory News (ECR)

8 Jul 2009 10:09



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA, THE REPUBLIC OF IRELAND OR JAPAN

8 July 2009

Mercator Gold plc

("Mercator Gold", "Mercator" or the "Company")

Issue of Equity

The Company announced on 29 June 2009 that it had undertaken a placing of 42.5 million new ordinary shares of 0.01p each ("New Ordinary Shares") at a price of 2 pence per share to raise £850,000 before expenses. 

It was announced that the New Ordinary Shares will be issued and admitted to AIM in three tranches on 2 July, 13 July and 27 July 2009. Admission of 17,675,000 New Ordinary Shares occurred on 2 July. It is now expected that all the remaining 24,875,000 New Ordinary Shares shall all be admitted to AIM on 13 July 2009.

The New Ordinary Shares will rank pari passu in all respects with the existing ordinary shares in the Company currently traded on AIM. Following admission of the remaining New Ordinary Shares there will be 115,174,911 Ordinary Shares in issue.

For further information contact:

Mercator Gold plc 

Patrick Harford, Managing Director  Tel: +44 (0) 20 7929 1010

Email: info@mercatorgold.com 

Website: www.mercatorgold.com

Bankside Consultants Ltd Tel: +44 (0) 20 7367 8888

Simon Rothschild

Oliver Winters

Cenkos Securities plc Tel: +44 (0) 7397 8900

Adrian Hargrave

Beth McKiernan

Old Park Lane Capital PLC

Forbes Cutler, Director of Corporate Broking  Tel: +44 (0) 20 7518 2603

AIM: MCR

Old Park Lane Capital plc ("OPL"), which is authorised and regulated in the United Kingdom by The Financial Services Authority, is acting exclusively for the Company as, joint broker and placing agent in connection with the Placing. OPL is not acting for any other person and will not be responsible to anyone other than the Company for providing the protections afforded to clients of OPL or for advising any other person in relation to the Placing The new Ordinary Shares have not been, nor will be, registered under the United States Securities Act of 1933 (as amended) or under the securities legislation of any state of the United States of America or of any province or territory of Canada, Australia, Japan, the Republic of Ireland or the Republic of South Africa. There will be no public offering of the new Ordinary Shares in the United States. Subject to certain exceptions, the new Ordinary Shares may not be directly or indirectly offered, sold, transferred, taken up or delivered in, into or from the United States, Canada, Australia, Japan, the Republic of Ireland or the Republic of South Africa or their respective territories or possessions. This announcement does not constitute an offer to sell or issue or the solicitation of an offer to buy new Ordinary Shares in any jurisdiction in which such offer or solicitation is unlawful. Accordingly, copies of this announcement are not being and must not be mailed or otherwise distributed or sent in or into or from the United States, Canada, Australia, Japan, the Republic of Ireland or the Republic of South Africa and any person receiving this announcement (including custodians, nominees and trustees) must not distribute or send it in or into or from the United States, Canada, Australia, Japan, the Republic of Ireland or the Republic of South Africa. This announcement has not been approved by Cenkos or Ocean for the purposes of section 21 of the Financial Services and Markets Act 2000. This announcement has not been examined or approved by The Financial Services Authority or the London Stock Exchange or any other regulatory authority.