Last checked at 28 Jun 2019 07:00
Alien Metals Limited - Brokered placing and appointment of Joint BrokerAlien Metals Limited - Brokered placing and appointment of Joint Broker
PR Newswire
London, June 28
ALIEN METALS
Trading Symbols
AIM: UFO
FWB: I3A1
28 June 2019
Alien Metals Ltd(“Alien” or “the Company”)
Brokered placing and appointment of Joint Broker
Alien Metals Ltd, the AIM quoted exploration and development company, is pleased to announce that it has raised £350,000, before expenses, through the placing of 233,333,333 Common shares of no par value (“New Common Shares”) at a price of 0.15 pence each (“the Placing”) through SVS Securities plc (“SVS”). The proceeds of the Placing will be used for further exploration work at the Company’s wholly owned Donovan 2, Los Campos and San Celso projects and for general working capital purposes.
The placing was at a 7.14% premium to the closing price of 0.14 pence per share on 27 June 2019.
Peter Taylor, CEO of Alien, commented: “This modest round of strategic funding comes at a premium, underwrites ongoing exploration of the asset portfolio and opens new opportunities to consider complementary projects. I am pleased to welcome and secure the brokerage and research capabilities of SVS alongside those of First Equity.”
The Placing is conditional only on the New Common Shares being admitted to trading on AIM (“Admission”). Application will be made to the London Stock Exchange for the 233,333,333 New Common Shares to be admitted to trading on AIM. Admission of the New Common Shares is expected to become effective at 8:00 am on or around 4 July 2019.
Following Admission, the Company will have 1,351,723,274 Common shares of no par value in issue. The Company has no shares in treasury, therefore the figure of 1,351,723,274 should be used by shareholders for the calculations by which they will determine if they are required to notify their interest in, or a change of their interest in, the share capital of the Company under the FCA’s Disclosure and Transparency Rules.
Appointment of Joint Broker
In conjunction with the Placing the Company has appointment SVS as Joint Broker with immediate effect
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
For further information please visit the Company’s website at www.alienmetals.uk, or contact:
| Alien Metals Limited Peter Taylor, CEO David Taylor, Company Secretary Tel: +44 (0)20 7887 6599 | Yellow Jersey PR Limited Felicity Winkles/Annabel Atkins Tel: +44 (0)774 884 3871 |
| Beaumont Cornish Limited (Nomad) James Biddle/ Roland Cornish www.beaumontcornish.com Tel: +44 (0) 207 628 3396 | First Equity Limited (Joint Broker) Jason Robertson Tel +44 (0)20 7374 2212 |
| SVS Securities plc (Joint Broker) Elliot Hance Tel +44 (0)20 3700 0100 |
Notes to Editors
Alien Metals Limited is an AIM quoted mining exploration and development company. Since the recomposition of the Board and company name change in 2018, Alien has focused on delivering its strategy of acquiring mining projects which demonstrate significant development upside, in jurisdictions with established infrastructure and mining codes, and where strong operational controls can be assured.
In addition to progressing its acquisition-led strategy, following the strategic review of its portfolio of projects in Mexico during 2018-19, the Company has identified exploration targets across its 12 mining concessions in Zacatecas, Mexico, which it is working to advance systematically.