3 Jul 2018 07:30
03 July 2018
Rambler Metals & Mining
GRANT OF OPTIONS/pdmR holding
London, United Kingdom & Newfoundland and Labrador, Canada - Rambler Metals and Mining PLC (TSXV: RAB, AIM: RMM) ('Rambler' or 'The Company') reports that after close of business on 29 June 2018 the Board of Directors has approved a grant of 8,565,000 incentive stock options to directors, officers, and employees of the Company under its stock option plan, in accordance with the Company's compensation policy. The options are exercisable for five years and issued at the Fair Market value of CAD$0.09. All options granted will vest 100% after three years from the date of grant.
As part of the grant Norman Williams, President & CEO, Director, has been issued options over 3,400,000 ordinary shares in the Company. In accordance with the Company's stock option plan, these options are exercisable over a five year period at a price of CAD$0.09 per share and vest 100% after 3 years from the date of grant. Mr. Williams currently holds 100,000 shares in the Company and has incentive stock options over 4,575,000 ordinary shares. Following this grant, Mr .Williams will have a total of 7,975,000 incentive stock options.
The notification below, made in accordance with the requirements of the Market Abuse Regulation, provide further detail.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1 | Details of the person discharging managerial responsibilities / person closely associated
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a) | Name | Mr. Norman Williams
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2 | Reason for the notification
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a) | Position/status | Chief Executive Officer /PDMR
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b) | Initial notification /Amendment
| Initial notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
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a) | Name | Rambler Metals and Mining PLC
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4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
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a) | Description of the financial instrument, type of instrument Identification code | Options over Ordinary Shares
ISIN: GB00B06Y3F14 | ||||
b) | Nature of the transaction
| Grant of options | ||||
c) | Price(s) and volume(s) |
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d)
| Aggregated information - Aggregated volume - Price
| As above | ||||
e) | Date of the transaction
| 2018-06-29 | ||||
f) | Place of the transaction
| Outside a Trading Venue | ||||
ABOUT RAMBLER METALS AND MINING
Rambler is a mining and development company that in November 2012 brought its first mine into commercial production. Rambler has a 100 per cent ownership in the Ming Copper-Gold Mine, a fully operational base and precious metals processing facility and year round bulk storage and shipping facility; all located on the Baie Verte peninsula, Newfoundland and Labrador, Canada.
Following the completion of its Phase II expansion Rambler's focus is to sustain mine and mill production at 1,250 mtpd in 2018. Upon sustaining its Phase II production target, Rambler will continue advancing Phase III engineering studies with a view to further increase production to 2,000 mtpd at the Ming Mine.
Along with the Ming Mine, Rambler also owns 100 per cent of the former producing Little Deer/ Whales Back copper mines and has strategic investment in the former producing Hammerdown gold mine.
Rambler is dual listed in London under AIM:RMM and in Canada under TSX-V:RAB.
For further information, please contact:
Norman Williams, CPA,CA President and CEO Rambler Metals & Mining Plc Tel No: 709-800-1929 Fax No: 709-800-1921 | Peter Mercer Vice President, Corporate Secretary Rambler Metals & Mining Plc Tel No: +44 (0) 20 8652-2700 Fax No: +44 (0) 20 8652-2719 |
Nominated Advisor (NOMAD) |
Investor Relations |
David Porter, Peter Malovany Cantor Fitzgerald Europe Tel No: +44 (0) 20 7894 7000 | Nicole Marchand Investor Relations Tel No: 416- 428-3533 Nicole@nm-ir.com |
Website: www.ramblermines.com
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR'). Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.
Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward Looking Statements:
Certain information included in this press release, including information relating to future financial or operating performance and other statements that express the expectations of management or estimates of future performance constitute "forward-looking statements". Such forward-looking statements include, without limitation, statements regarding copper, gold and silver forecasts, the financial strength of the Company, estimates regarding timing of future development and production and statements concerning possible expansion opportunities for the Company. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief are based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include, without limitation, the price of and anticipated costs of recovery of, copper concentrate, gold and silver, the presence of and continuity of such minerals at modeled grades and values, the capacities of various machinery and equipment, the availability of personnel, machinery and equipment at estimated prices, mineral recovery rates, and others. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Such risks include, but are not limited to, interpretation and implications of drilling and geophysical results; estimates regarding timing of future capital expenditures and costs towards profitable commercial operations. Other factors that could cause actual results, developments or events to differ materially from those anticipated include, among others, increases/decreases in production; volatility in metals prices and demand; currency fluctuations; cash operating margins; cash operating cost per pound sold; costs per ton of ore; variances in ore grade or recovery rates from those assumed in mining plans; reserves and/or resources; the ability to successfully integrate acquired assets; operational risks inherent in mining or development activities and legislative factors relating to prices, taxes, royalties, land use, title and permits, importing and exporting of minerals and environmental protection. Accordingly, undue reliance should not be placed on forward-looking statements and the forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements contained herein are made as at the date hereof and the Company does not undertake any obligation to update publicly or revise any such forward-looking statements or any forward-looking statements contained in any other documents whether as a result of new information, future events or otherwise, except as required under applicable law.