TIDMRMM
RNS Number : 4104T
Rambler Metals & Mining PLC
17 March 2023
17 March 2023
Materials publicly filed in the CCAA Proceedings
London, England - Baie Verte, Newfoundland and Labrador, Canada
- Rambler Metals and Mining plc (AIM: RMM) ("Rambler" or the
"Company") wishes to notify the shareholders that the Sales or
Investment Solicitation Plan ("SISP") Hearing scheduled for 15
March 2023, as announced initially on 28 February 2023, has been
completed and the Court announced its decision which includes:
-- the SISP Order has been granted, and the SISP will be
conducted by the Monitor under the Court's supervision and has been
designed to achieve the highest value available or otherwise best
offer for the Company, its subsidiaries, and its stakeholders;
and
-- a further Amended and Restated Initial Order ("ARIO") has
been granted in which the Debtor In Possession ("DIP") Charge has
been increased to US$5.0 millions.
Further materials publicly filed in the CCAA Proceedings,
including the Amended and Restated Initial Order, and additional
information with respect to the Strategic Process, will be
available shortly on the Monitor's website at
www.GrantThornton.ca/Rambler .
The materials published on the website are as follows
("Materials"):
1) Sales and Investment Solicitation Process Order, dated 15 March 2023
http://www.rns-pdf.londonstockexchange.com/rns/4104T_1-2023-3-17.pdf
2) Further Amended and Restated Initial Order, dated 15 March 2023
http://www.rns-pdf.londonstockexchange.com/rns/4104T_2-2023-3-17.pdf
Further announcements will be made, as appropriate.
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ('MAR') which has
been incorporated into UK law by the European Union (Withdrawal)
Act 2018. Upon the publication of this announcement via Regulatory
Information Service ('RIS'), this inside information is now
considered to be in the public domain.
Terms and definitions in this notification are as defined in the
notification of 27 February 2023.
ABOUT RAMBLER METALS AND MINING
Rambler is a mining and development company that in November
2012 brought its first mine into commercial production. Rambler has
a 100 per cent ownership in the Ming Copper-Gold Mine, a fully
operational base and precious metals processing facility and
year-round bulk storage and shipping facility; all located on the
Baie Verte peninsula, Newfoundland and Labrador, Canada.
The Company has targeted a production profile to meet current
mill capacity of 1,350 metric tonnes per day with a target grade of
2% Cu and is evaluating growth opportunities from that base .
Along with the Ming Mine, Rambler also owns 100 per cent of the
former producing Little Deer Complex.
Caution Regarding Forward Looking Statements:
This press release may include forward-looking statements, which
reflects the Company's current expectations regarding future
events. Forward-looking statements include, but are not limited to,
statements regarding the development and implementation of the
Strategic Process and its potential impact and outcomes; the
process for developing the Strategic Process and seeking Court
approval thereof; the ability to identify and implement any sale or
restructuring transaction in connection with the Strategic Process
and the CCAA Proceedings; the Company's intended actions during the
CCAA Proceedings; and the effect of the CCAA Proceedings. Such
statements are based on current expectations of the Company's
management and inherently involve numerous risks and uncertainties,
known and unknown, and there can be no assurance as to the outcome
of the Strategic Process and the CCAA Proceedings. In particular
and without limitation, there can be no assurances as to: the
ability of the Company to obtain all necessary approvals in order
to complete any sale or restructuring transaction identified in
connection with the Strategic Process and the CCAA Proceedings; the
stay of proceedings having the effect contemplated by the Company
in providing it with additional time to pursue the Strategic
Process; the ability of the Company to operate in the ordinary
course during the CCAA Proceedings, including with respect to
satisfying obligations to service providers, suppliers, contractors
and employees; the ability of the Company to continue as a going
concern; the Company's future liquidity position, and access to
capital, to fund ongoing operations and obligations; the ability of
the Company to stabilize its business and financial condition; the
ability of the Company to implement and successfully achieve its
business priorities; the ability of the Company to comply with its
contractual obligations, including, without limitation, its
obligations under debt arrangements; the ability of the Company to
generate sufficient cash flow from operations; the impact of
competition; the ability of the Company to obtain and retain
qualified staff, equipment and services in a timely and efficient
manner (including in light of the Company's restructuring efforts);
and the ability of the Company to retain members of the senior
management team, including but not limited to, the officers of the
Company.
Rambler is listed in London under AIM:RMM.
Media Contact:
T im Sanford, P. Eng.
VP & Corporate Secretary
Email: tsanford@ramblermines.com
Tel No: +1 (709) 532 5736
For further information, please contact:
T oby Bradbury Celeste Van Tonder T im Sanford. P. Eng.
President and CEO CFO VP & Corporate Secretary
Rambler Metals & Mining Rambler Metals & Mining Rambler Metals & Mining
Plc Plc Plc
Tel No: +1 (709) 800 Tel No: +1 (709) 800 Tel No: +1 (709) 532
1929 1929 5736
Fax No: +1 (709) 800 Fax No: +1 (709) 800 Fax No: +1 (709) 800
1921 1921 1921
Nominated Advisor (NOMAD)
Ewan Leggat, Kasia
Brzozowska
SP Angel Corporate
Finance LLP
Tel No: +44 (0) 20
3470 0470
Website: www.ramblermines.com
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END
MSCGPUGAWUPWGWM
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