Last checked at 12 May 2016 07:00
Eurasia Mining plc (AIM: EUA)
("Eurasia" or the "Company")
Issue of Equity
Eurasia, the platinum explorer and resource development company operating in Russia, announces the completion of a strategic placing raising £500,000 (the "Placing").
The Placing of 90,909,091 ordinary shares of 0.1 p ("New Shares") was undertaken at a price of 0.55p per share and raised gross proceeds of £500,000.
The net proceeds of the Placing will be used to repay the loan provided by Sanderson Capital Partners Limited, announced on 12 February 2016, support underlying working capital requirements and to allow the completion of the work programme at Monchetundra and the test work on the Semenovsky Tailings Project. An announcement on mining at West Kytlim will follow shortly.
Application has been made to admit the New Shares to trading on AIM. Admission is expected to become effective on 26 May 2016 and the New Shares will rank pari passu in all respects with the Company's existing Ordinary Shares in issues. For the purposes of the Financial Conduct Authority's Disclosure and Transparency Rules ("DTRs"), the issued ordinary share capital of the Company following the allotment of the New Shares consists of 1,395,863,328 Shares with voting rights attached (one vote per Share). There are no Shares held in treasury. This total voting rights figure may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interests in, or a change to their interest in, Eurasia under the DTRs.
Enquiries:
Eurasia Mining Plc
Christian Schaffalitzky/Michael de Villiers
+44 (0)207 932 0418
WH Ireland Limited
Katy Mitchell/Liam Gribben
+44 (0)161 832 2174
Beaufort Securities
Elliot Hance
+44 (0)207 382 8300
Loeb AronJohn Beresford-Peirse+44 (0)207 628 1128