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#AYM Anglesey Mining PLC – Fundraise to raise £220,000
Anglesey Mining plc (AIM:AYM), the UK minerals development company, is pleased to announce that as follow up to the placing and subscription announced on 28 June 2024, the Company has raised £220,000 (before expenses) by way of a direct subscription of 22,000,000 ordinary shares at a price of 1pence per share (the “Subscription Shares”).
Fundraising Highlights
- Subscription to raise approximately £220,000 (before expenses).
- Issue Price of 1 pence per share
Reasons for the Fundraising
In line with the objectives outlined in the fundraising announced in June 2024, the Company has undertaken this Fundraise and its previous fundraise to progress its corporate and operational strategy and the net proceeds will therefore be applied towards:
- Developmental work at Parys Mountain
- Advancing development options at Grängesberg Iron Ore Mine
- Debt repayment; and
- General working capital purposes
The Company is advancing a number of initiatives with a view to supporting its cash position, however if these are not successful the Company will need to raise further funds towards the end of the calendar year to continue to progress its activities.
The Subscription is conditional only on Admission.
Admission
Application has been made to the London Stock Exchange for admission of the Subscription Shares to trading on AIM (“Admission”). It is expected that Admission will become effective and dealings in the Subscription Shares will commence at 8.00 a.m. on or around 30 September 2024.
The Subscription Shares will be issued fully paid and will rank pari passu in all respects with the Company’s existing Ordinary Shares.
Following Admission, the total number of Ordinary Shares in the capital of the Company in issue will be 483,593,017 with voting rights. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company’s share capital pursuant to (i) the Company’s Articles, (ii) the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules and/or (iii) the AIM Rules for Companies issued by the London Stock Exchange plc as amended from time to time.
For further information, please contact:
Anglesey Mining plc
Rob Marsden, Chief Executive Officer Tel: +44 (0)7531 475111
Andrew King, Interim-Chairman Tel: +44 (0)7825 963700
Davy
Nominated Adviser & Joint Corporate Broker
Brian Garrahy / Daragh O’Reilly – Tel: +353 1 679 6363
Zeus Capital
Joint Corporate Broker
Harry Ansell/Katy Mitchell – Tel: +44 (0) 203 829 5000
Power Metal Resources #POW – Amendment of Warrant Terms
Power Metal Resources PLC (LON:POW), the London listed exploration company seeking large-scale metal discoveries across its global project portfolio announces that, further to the announcement of 9 May 2023, the Company has today agreed to amend the terms of the warrants issued pursuant to the placing (“Fundraising Warrants”).
Under the amended terms, the expiry date of the Fundraising Warrants has been extended from 9 May 2028 to 23 May 2028. Further, under the amended terms if the volume weighted average price (“VWAP”) of the Company’s ordinary shares on each of 5 consecutive trading days exceeds £0.03 or on any subsequent occasion the 5 day VWAP exceeds £0.03, the Company may at any time in the next 10 business days issue an announcement through a Regulatory News Service to the effect that it is exercising its rights and write to the warrantholders providing 20 business days’ notice requiring accelerated exercise of the Fundraising Warrants, with payment required within 20 business days of the acceleration announcement date. To the extent that Fundraising Warrants are not exercised, or payment of the subscription price is not received, within 20 business days of the acceleration announcement date, the Fundraising Warrants will lapse.
There are no further changes to the terms of the Fundraising Warrants or the placing.
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“MAR”), and is disclosed in accordance with the Company’s obligations under Article 17 of MAR.
For further information please visit https://www.powermetalresources.com/ or contact:
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Power Metal Resources plc |
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Sean Wade (Chief Executive Officer) |
+44 (0) 20 3778 1396 |
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SP Angel Corporate Finance (Nomad and Joint Broker) |
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Ewan Leggat/Charlie Bouverat |
+44 (0) 20 3470 0470 |
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SI Capital Limited (Joint Broker) |
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Nick Emerson |
+44 (0) 14 8341 3500 |
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First Equity Limited (Joint Broker) |
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David Cockbill/Jason Robertson |
+44 (0) 20 7330 1883 |
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