Aurum Mining PLC Issue of Equity (7952E)
July 21 2016 - 2:00AM
UK Regulatory
TIDMAUR
RNS Number : 7952E
Aurum Mining PLC
21 July 2016
AURUM MINING PLC
(AIM: AUR)
21 July 2016
Issue of New Equity
Grant of Options
Convertible Loan Notes
Aurum plc ("Aurum plc" or the "Company"), the Spanish focused
gold and tungsten explorer, is pleased to announce that it has
completed a subscription of 2,500,000 New Ordinary Shares to a new
strategic investor at a price of 1 pence per share to raise
approximately GBP25,000 before expenses ("the Subscription") which
will be used to fund working capital requirements.
In addition, the Company has granted 31,500,000 share options to
subscribe for New Ordinary Shares of 1 pence each in the Company to
the new investor. The options are exercisable until 19 July 2017
and shall have an exercise price of 1 pence per share. There are no
conditions attaching prior to the vesting of the options.
The Company announced funding by way of a convertible loan on 17
June 2016, half of which had been provided by David Williams,
Chairman of Aurum. The Company has received an undertaking from the
providers of the convertible loan that this issue of equity will
not trigger the conversion of their respective loans.
In accordance with the Disclosure and Transparency Rules (DTR
5.6.1R) the Company hereby notifies the market that immediately
following Admission its issued share capital will consist of
174,350,286 Ordinary Shares of 1p each. The Company does not hold
any shares in treasury. Shareholders may use these figures 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 under the FCA's Disclosure and
Transparency Rules.
Application has been made to the London Stock Exchange for the
New Ordinary Shares to be admitted to trading on AIM. It is
expected that Admission will become effective at 8.00 a.m. on 26
July 2016.
Contacts:
Aurum Mining plc www.aurummining.net
David Williams +44 (0) 797 014 8016
WH Ireland Limited Nominated Adviser &
Broker
Mike Coe, Ed Allsopp +44 (0) 117 945 3470
Notes to Editors:
Aurum Mining is an AIM listed exploration and development
company focused on its highly prospective portfolio of gold and
tungsten assets in North West Spain.
Gold
Through its joint venture agreement with Ormonde Mining plc
(AIM: ORM), Aurum currently has a majority interest in the Pino de
Oro project in Zamora Province and the Peralonso and Cabeza
projects in Salamanca Province.
Tungsten
Aurum's 20% owned Morille Tungsten project is located
approximately 15km south west of Salamanca in North West Spain and
covers an area of 5,796 hectares. The permit area is a 'brownfield'
site with historical data indicating production from the site of
high quality tungsten concentrates.
This information is provided by RNS
The company news service from the London Stock Exchange
END
IOEURONRNWABUAR
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