Sign In
Last checked at 
13 Apr 2022 10:00
Empire Metals Limited / LON: EEE / Sector: Natural Resources
13 April 2022
Empire Metals Limited
Completion of Acquisition of Pitfield Copper-Gold Project
Empire Metals Limited (LON: EEE), announces that it has completed the acquisition of the Pitfield Copper-Gold Project ('Pitfield') the first of three highly prospective Australian-based copper-gold projects (the 'Projects') acquired from Century Minerals Pty Ltd ('Century') (refer to RNS dated 6 April 2022).
Completion and Issue of Equity
The consideration for the Projects will be satisfied by the issue of 16,835,588 new ordinary shares in Empire (representing 5% of the issued share capital of the Company at signing) (the 'Consideration Shares') apportioned equally between each Project and issued upon the grant of the relevant Tenement comprising each Project, which in the case of Pitfield is the already granted Exploration Licence E70/5465.
Following completion on Pitfield, 5,611,863, Consideration Shares have been issued. The remaining two thirds of the Consideration Shares will be issued in two tranches at the time that the Stavely and Walton licences are granted.
Application for Admission
The 5,611,863 Consideration Shares will rank pari passu in all respects with the existing ordinary shares of no-par value in the capital of the Company. Application will be made to the London Stock Exchange for the new shares to be admitted to trading on AIM ('Admission'). It is expected that Admission will become effective on or around 21 April 2022.
Following Admission of the new shares as described above, the issued share capital of the Company will consist of 342,323,618 ordinary shares of no-par value. 342,323,618 represents the total number of voting rights in the Company and may be used by shareholders as the denominator for the calculations by which they can determine if they are required to notify their interest in, or a change to their interest in the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
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, as incorporated into UK law by the European Union (Withdrawal) Act 2018, until the release of this announcement.
**ENDS**
For further information please visit www.empiremetals.co.uk or contact:
Empire Metals Ltd Shaun Bunn / Greg Kuenzel | Tel: 020 7907 9327 |
S. P. Angel Corporate Finance LLP (Nomad & Broker) Ewan Leggat / Adam Cowl | Tel: 020 3470 0470 |
Shard Capital Partners LLP (Joint Broker) Damon Heath | Tel: 020 7186 9950 |
St Brides Partners Ltd (Financial PR) Susie Geliher / Ana Ribeiro / Selina Lovell | Tel: 020 7236 1177 |
About Empire Metals Limited
Empire Metals is an AIM-listed (LON: EEE) exploration and resource development company with a project portfolio comprising gold interests in Australia and Austria.
The Company's strategy is to develop a pipeline of projects at different stages in the development curve. Its initial focus has been on the high-grade Eclipse and Gindalbie Gold Projects in Western Australia, with the goal to expand through the addition of further projects Australia-wide to develop a viable and compelling portfolio of precious and base metal assets.
Empire also holds a portfolio of three precious metals projects located an historically high-grade gold production region comprising the Rotgulden, Schonberg and Walchen prospects in central-southern Austria.
The Board continues to evaluate opportunities through which to realise the value of its wider portfolio and reviews further assets which meet the Company's investment criteria.
Follow the stocks
