THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN
REGULATION NO. 596/2014 (AS IT FORMS PART OF RETAINED EU LAW AS
DEFINED IN THE EUROPEAN UNION (WITHDRAWAL) ACT 2018) AND
IS IN ACCORDANCE WITH THE COMPANY'S OBLIGATIONS UNDER ARTICLE 7 OF
THAT REGULATION.
10 December 2024
Eurasia Mining
PLC
Sanderson Loan Drawdown and
Issue of Equity
Eurasia Mining PLC ("Eurasia" or the
"Company"), the palladium, platinum, rhodium, iridium and gold
mining company, announces that, pursuant to its trade finance loan
agreement with Sanderson Capital Partners Limited ("Sanderson")
(the "Loan") as announced on 6 September 2024, the Company has
elected to drawdown a further £150,000 from Sanderson, which will
be used for general corporate purposes.
Following the passing of the
resolutions at the Company's Annual General Meeting held on 15
November 2024, Eurasia has also issued ordinary shares of 0.1 pence
each in the capital of the Company ("Ordinary Shares") to Sanderson
in conjunction with the Loan:
· 14,021,739 Ordinary Shares issued pursuant to the Loan
financing fee and associated legal costs, issued at 2.3 pence each,
representing a premium of 16% to the Company's closing price of
1.98 pence on 9 December 2024 (the "Latest Closing
Price");
· A fee
of 5% paid in Ordinary Shares, being 500,000 in number, issued
pursuant to the conversion of the first tranche drawdown of
£250,000, converted at a price of 2.5 pence each, representing a
premium of 26% to the Latest Closing Price; and
· A fee
of 5% paid in Ordinary Shares, being 300,000 in number, issued
pursuant to the second drawdown of £150,000, converted at a price
of 2.5 pence each, representing a premium of 26% to the Latest
Closing Price.
In addition, pursuant to the terms
of the Loan, warrants over 54,347,826 Ordinary Shares have
been granted to Sanderson (the "Warrants"). The Warrants have an
exercise price of 4.0 pence, representing a premium of 102% to the
Latest Closing Price, and will expire on 10 December
2026.
The Company will provide updates
regarding further drawdowns of the Loan as appropriate.
Application for Admission and Total Voting
Rights
Application will be made for the
14,821,739 new Ordinary Shares to be admitted to trading on AIM
("Admission") and dealings are expected to commence on or
around 16 December 2024. The new Ordinary Shares will
rank pari passu in all respects with the Company's
existing Ordinary Shares.
Following Admission, the Company
will have 2,879,381,734 Ordinary Shares in issue. The Company has
no shares in treasury, therefore the figure of 2,879,381,734
Ordinary Shares 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 in their interest in, the share capital of
the Company under the FCA's Disclosure Guidance and
Transparency Rules.
For further information, please
contact:
Eurasia Mining Plc
Christian Schaffalitzky
+44 (0)207 932 0418
SP
Angel Corporate Finance LLP (Nomad and Broker)
Jeff Keating / David Hignell / Adam
Cowl
+44 (0)20 3470 0470
Yellow Jersey PR (Financial PR)
Charles Goodwin / Shivantha
Thambirajah
+44 (0)207 932 0418
eurasia@yellowjerseypr.com