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22 Jan 2010 07:00
22 January 2010 KEFI Minerals plc ("KEFI Minerals" or the "Company') AIM: KEFI KEFI Minerals Raises £150,000 in Equity Placing Completion of January Financing Initiatives to Raise a Total of £665,000
KEFI Minerals, the AIM-quoted gold and copper exploration company, is pleased to announce it has successfully placed a further 9,375,000 ordinary shares of 1p each ("Ordinary Shares") at a price of 1.6 pence per Ordinary Share (the "Placing Shares") to raise £150,000 before expenses (the "Placing"), subject to receipt of the placing funds and admission of the Placing Shares to trading on AIM.
This Placing, along with the funding announced on 8th January at the same price per share, draws to a conclusion Kefi Mineral's current financing efforts and leaves the Company in a solid financial position. All funds that have been raised during this process will be used to fund on-going strategic initiatives and further exploratory work on its highly prospective exploration areas in Turkey and Saudi Arabia where KEFI Minerals is operator of exploration joint ventures.
The total number of Ordinary Shares in issue following the issue of the Placing Shares will be 279,729,259 Ordinary Shares.
Application will be made to admit the Placing Shares to trading on AIM ("Admission") and dealings in the Placing Shares are expected to commence on or around 27 January 2010.
The Placing Shares will, when issued, rank pari passu in all respects with the existing Ordinary Shares in issue including the right to receive dividends and other distributions declared following their issue.
Jeff Rayner, Managing Director of KEFI Minerals, commented "We are pleased that KEFI Minerals has now fully completed its near-term funding objectives. These funds will be used to advance our Turkish and Saudi Arabian targets which we continue to explore in conjunction with our joint venture partners. We look forward to updating all shareholders on our activities in due course."
Enquiries:
KEFI Minerals
Jeffrey Rayner +90 533 928 19 13
Fox-Davies Capital
Oliver Stansfield +44 207 936 5220
WH Ireland Limited
Katy Mitchell +44 161 832 2174
Bishopsgate CommunicationsNick Rome +44 20 7562 3350Michael Kinirons
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