18 May 2012 07:00
StratMin Global Resources plc
(AIM: STGR)
FURTHER INVESTMENT IN GRAPHMADA GRAPHITE PROJECT
AND ISSUE OF EQUITY
Further to the announcement of 13 April 2012, StratMin Global Resources plc ("StratMin" or the "Company") is pleased to announce that it is to increase its investment participation in Graphmada Equity Pte Ltd ("Graphmada"), an advanced stage graphite mining and production company with operations in Madagascar.
This further investment is to be made via the acquisition by the Company of £295,000 of 8% convertible loan notes (the "Notes"), which gives Stratmin the ability to increase its ownership position in the Graphmada graphite project.
The investment has been funded via the issue of 4,916,667 new shares in StratMin ("New StratMin Shares") at 6p (a 14.3% premium to the closing price on Thursday 17 May of 5.25p).
Application will be made for the 4,916,667 New StratMin Shares to be admitted to AIM, which is expected to take place on 24 May 2012. The New StratMin Shares will, when issued, rank pari passu with the existing ordinary shares in issue.
Following admission, the Company's enlarged issued share capital will comprise 81,788,712 ordinary shares with one voting right per share.
Gobind Sahney, Chairman of StratMin, said: "We have taken the opportunity to increase our investment in Graphmada based on our growing appreciation of the potential of the project. The StratMin Board and the Graphmada team continue to work together implementing the Graphmada business model and we remain confident that our investment in Graphmada will provide an attractive return to our shareholders".
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Enquiries:
StratMin Global Resources plc
Gobind Sahney +44 (0) 207 467 1700
Libertas Capital Corporate Finance Limited
Sandy Jamieson +44 (0) 207 569 9650
Rivington Street Corporate Finance
Jon Levinson +44 (0) 20 7 562 3357