23 Feb 2015 07:00
Regency Mines Plc
("Regency" or the "Company")
Issuance of RAM Resources Shares
20 February 2015
Regency Mines Plc, the natural resources exploration and investment company with interests in oil in the United Kingdom and United States, and nickel and other minerals in Australia, Greenland, Papua New Guinea and Sudan, is pleased to announce an issuance of 35,000,000 new shares to Regency by RAM Resources ("RAM").
Further to the announcement of 14 April 2014, on 20 February 2015 RAM announced that a second tranche of 35,000,000 new RAM ordinary fully paid shares ("Shares"), issued by conversion of 5.6% out of the 13.5% carried interest retained by Regency in the Fraser Range tenements ("Project"), have been issued to Regency at a deemed issue price of AUD 0.8c, valuing the Shares at AUD$280,000. The closing price of RAM today was AUD 0.6c. The Shares are subject to a voluntary escrow period until 21 April 2015.
Following the issue, the Company's shareholding in RAM will be 35,000,000 shares (5.31%).
The full text of the announcement can be found at:
http://www.asx.com.au/asxpdf/20150220/pdf/42wrksnh1fnpr7.pdf
Andrew Bell, Chairman, comments:
"RAM has now issued the balance of shares converted from our Fraser Range project holding at the original placing price from April 2014. The Company retains a meaningful direct stake and royalty interest in the Fraser Range project itself as well as this new liquid shareholding in RAM. We intend to continue to support RAM in its development and exploration in the exciting Fraser Range area while considering our investments a potential form of future funding and liquidity when appropriate."
For further information, please contact:
Andrew Bell 0207 747 9960 or 0776 647 4849 Chairman Regency Mines Plc
Roland Cornish/Rosalind Hill Abrahams 0207 628 3396 NOMAD Beaumont Cornish Limited
Jason Robertson 0129 351 7744 Broker Dowgate Capital Stockbrokers Ltd.
Christian Pickel 0203 128 8208 Media Relations MHP Communications
Information on RAM Resources
Ram Resources Limited is an exploration company. The Company is engaged in exploration and development of nickel and copper prospects in the Fraser Range, Western Australia. The Fraser Range Project comprises 3 granted exploration licenses (EL 28/2209, EL28/2210 and ELA63/1528) with a combined area of 271km2 in the Fraser Range of Western Australia, about 220 km south east of Kalgoorlie. The tenements, prospective for nickel and gold, are only 20 km to the west of Sirius Nova Discovery. Regency has a 1% gross production royalty over, and a 7.9% carried interest in, the Project.