TIDMEEE
RNS Number : 6774J
Empire Metals Limited
28 April 2022
Empire Metals Limited / LON : EEE / Sector: Natural
Resources
28 April 2022
Empire Metals Limited ('Empire' or the 'Company')
Placing to Raise GBP1.7M to Accelerate Exploration at the
Company's Eclipse and Gindalbie Projects
Empire Metals Limited is pleased to announce that it has raised
GBP1.7 million before expenses by way of an oversubscribed placing
of 85,000,000 new ordinary shares of no par value in the capital of
the Company (the 'Placing Shares'), with new and existing
shareholders in the Company, at a price of 2 pence per Placing
Share (the 'Placing').
The net proceeds of the Placing will be primarily used to to
accelerate the drill programmes initially scheduled for Q3 and Q4
at Eclipse and Gindalbie. The Company will also undertake further
drilling at the Homeward Bound target at Gindalbie, where Empire's
initial drill programme intercepted bonanza grade gold (refer RNS
30 March 2022). Empire is now fully funded for the expanded
drilling campaigns targeting the high-grade discoveries at Eclipse
and Gindalbie and for further regional exploration activities
across the recently acquired copper-gold projects at Pitfield,
Stavely and Walton.
Mr Shaun Bunn, Managing Director and Mr Gregory Kuenzel, Finance
Director have each subscribed for 1,000,000 Placing Shares.
Following this purchase, Mr Bunn's total beneficial ownership
interest in the Company is 1,000,000 ordinary shares of no par
value in the capital of the Company ('Ordinary Shares')
representing 0.23% of the Company's issued share capital and Mr
Kuenzel's total beneficial ownership interest in the Company is
2,597,467 Ordinary Shares representing 0.61% of the Company's
issued share capital.
Shaun Bunn, Managing Director, said: "The support that we have
received from new and existing shareholders is an endorsement of
our confidence in the potential for significant high-grade gold
resource development at our Eclipse and Gindalbie Gold Projects. We
look forward to updating the market on our progress in due course.
"
Application for Admission
The Placing Shares will rank pari passu in all respects with the
existing ordinary shares of no par value in the capital of the
Company. Application has been made to the London Stock Exchange for
the Placing Shares to be admitted to trading on AIM ('Admission').
It is expected that Admission will become effective on or around 4
May 2022. As a result of the issue of the Placing Shares as
described above, the issued share capital of the Company now
consists of 427,323,618 ordinary shares of no-par value.
Warrants
The Company has agreed to issue warrants over a total of
1,600,000 ordinary shares in the Company exercisable at 3p per
share for a period of two years from date of grant to Shard Capital
Partners LLP (Joint Broker).
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014, as incorporated into UK law by the
European Union (Withdrawal) Act 2018, until the release of this
announcement.
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
a) Name: Shaun Bunn
----------------------------------------- -----------------------------------------
2. Reason for the notification
------------------------------------------------------------------------------------
a) Position/status: Managing Director
----------------------------------------- -----------------------------------------
b) Initial notification/Amendment: Initial notification
----------------------------------------- -----------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------------
a) Name: Empire Metals Limited
----------------------------------------- -----------------------------------------
b) LEI: 2138002IOR7OCZZPB279
----------------------------------------- -----------------------------------------
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
------------------------------------------------------------------------------------
a) Description of the financial instrument, Ordinary shares of no
type of instrument: par value
Identification code: VGG9688A1003
----------------------------------------- -----------------------------------------
b) Nature of the transaction: Placing of options over
ordinary shares
----------------------------------------- -----------------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
2 pence 1,000,000
---------- ----------
----------------------------------------- -----------------------------------------
d) Aggregated information: Single transactions
Aggregated volume: as in 4 c) above Price(s) Volume(s)
Price: 2 pence 1,000,000
---------- ----------
----------------------------------------- -----------------------------------------
e) Date of the transaction: 2022-04-28
09:00 hrs UTC
----------------------------------------- -----------------------------------------
f) Place of the transaction: Outside a trading venue
----------------------------------------- -----------------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name: Gregory Kuenzel
----------------------------------------- --------------------------------------
2. Reason for the notification
---------------------------------------------------------------------------------
a) Position/status: Finance Director
----------------------------------------- --------------------------------------
b) Initial notification/Amendment: Initial notification
----------------------------------------- --------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------------
a) Name: Empire Metals Limited
----------------------------------------- --------------------------------------
b) LEI: 2138002IOR7OCZZPB279
----------------------------------------- --------------------------------------
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
---------------------------------------------------------------------------------
a) Description of the financial instrument, Ordinary shares of no
type of instrument: par value
Identification code: VGG9688A1003
----------------------------------------- --------------------------------------
b) Nature of the transaction: Placing of options over
ordinary shares
----------------------------------------- --------------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
2 pence 1,000,000
---------- ----------
----------------------------------------- --------------------------------------
d) Aggregated information: Single transactions as
Aggregated volume: in 4 c) above Price(s) Volume(s)
Price: 2 pence 1,000,000
---------- ----------
----------------------------------------- --------------------------------------
e) Date of the transaction: 2022-04-28
09:00 hrs UTC
----------------------------------------- --------------------------------------
f) Place of the transaction: Outside a trading venue
----------------------------------------- --------------------------------------
**S**
For further information please visit www.empiremetals.co.uk or
contact:
Empire Metals Ltd Tel: 020 7907 9327
Shaun Bunn / Greg Kuenzel
S. P. Angel Corporate Finance Tel: 020 3470 0470
LLP (Nomad & Broker)
Ewan Leggat / Adam Cowl
-------------------
Shard Capital Partners LLP (Joint Tel: 020 7186 9950
Broker)
Damon Heath
-------------------
St Brides Partners Ltd (Financial Tel: 020 7236 1177
PR)
Susie Geliher / Ana Ribeiro
/ Selina Lovell
-------------------
About Empire Metals Limited
Empire Metals is an AIM-listed (LON: EEE) exploration and
resource development company with a project portfolio comprising
gold interests in Australia and Austria.
The Company's strategy is to develop a pipeline of projects at
different stages in the development curve. Its initial focus has
been on the high-grade Eclipse and Gindalbie Gold Projects in
Western Australia. The Company expanded its exploration licence
area in April 2022 from 9.5km(2) to 1,728km(2) with the acquisition
of the Pitfield Copper-Gold Project and the Walton Copper-Gold
Project in Western Australia, and the Stavely Copper-Gold Project
in the Stavely Arc region of Victoria.
Empire also holds a portfolio of three precious metals projects
located an historically high-grade gold production region
comprising the Rotgulden, Schonberg and Walchen prospects in
central-southern Austria.
The Board continues to evaluate opportunities through which to
realise the value of its wider portfolio and reviews further assets
which meet the Company's investment criteria.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
IOEDVLBLLZLBBBE
(END) Dow Jones Newswires
April 28, 2022 03:08 ET (07:08 GMT)
Empire Metals (LSE:EEE)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Empire Metals (LSE:EEE)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024
