Last checked at 10 Feb 2020 07:00
Georgian Mining Corporation / AIM: GEO / Sector: Natural Resources
10 February 2020
Georgian Mining Corporation ('GEO' or the 'Company')
Change of Name and TIDM
Georgian Mining Corporation, the gold-copper exploration and development company, announces that it has changed its name to Empire Metals Limited. The change of name reflects the Company's developing growth strategy which is anticipated to incorporate investing in and advancing projects in new jurisdictions alongside the development of its current project, the Bolnisi Copper and Gold Project in Georgia.
Trading in the Company's shares on AIM will commence under the new name Empire Metals Limited and the new TIDM code 'EEE' with effect from 8.00 a.m. on Tuesday 11 February 2020. The ISIN VGG3036T1012 and SEDOL BKTZQR4 will apply as at 8.00 a.m. on Thursday 13 February 2020.
The website address, at which the information required pursuant to AIM Rule 26 is available, has been changed to www.empiremetals.co.uk.
Shareholders should note that shareholdings will be unaffected by the change of name.
Neil O'Brien, Chairman, said: "The Company recently announced a milestone achievement in unlocking the value of our Bolnisi Copper and Gold Joint Venture, with the receipt of confirmation on the tenure of two of our primary targets and an appeal process about to commence on a third target. Notwithstanding this progress, shareholders will be aware that the Company has faced numerous challenges in Georgia over the past 18 months and as a result the Board has been actively evaluating new assets through which to add value to our portfolio of interests in the near term.
"Today's name change is intended to reflect our objective of de-risking our growth strategy by diversifying away from a single jurisdiction investment through the addition of projects in new geographies which combine both exceptional mineralised terranes with attractive investment environments.
"We look forward to updating shareholders on our endeavours to expand and diversify our project portfolio in due course."
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
**ENDS**
For further information please visit www.empiremetals.co.uk or contact:
Mike Struthers | Empire Metals Ltd | Company | Tel: 020 7907 9327 |
Ewan Leggat | S. P. Angel Corporate Finance LLP | Nomad & Broker | Tel: 020 3470 0470 |
Soltan Tagiev | S. P. Angel Corporate Finance LLP | Nomad & Broker | Tel: 020 3470 0470 |
Damon Heath | Shard Capital Partners LLP | Joint Broker | Tel: 020 7186 9950 |
Susie Geliher | St Brides Partners Ltd | PR | Tel: 020 7236 1177 |
Hannah Platt | St Brides Partners Ltd | PR | Tel: 020 7236 1177 |
About Empire Metals Limited
Empire Metals Limited (formerly Georgian Mining Corporation) has 50% ownership of the Bolnisi Copper and Gold Project in Georgia, situated on the prolific Tethyan Belt, a well-known geological region and host to many high-grade copper-gold deposits and producing mines. The Bolnisi concession covers an area of over 860 sq km and has a 30-year mining licence with a variety of targets and projects ranging from greenfield exploration / target definition phase through intermediate target-testing phases to more advanced projects including Kvemo Bolnisi East which is due to advance to Feasibility Study.
The Company is assessing the potential for expanding the Company's portfolio through the addition of new assets, which have the ability to add value in the short term.