Mila Resources PLC Amendment to Terms of the Warrants (5126H)
04 Diciembre 2020 - 01:00AM
UK Regulatory
TIDMMILA
RNS Number : 5126H
Mila Resources PLC
04 December 2020
Mila Resources Plc / Index: LSE / Epic: MILA / Sector: Natural
Resources
4 December 2020
Mila Resources Plc ("Mila Resources" or "the Company")
Amendment to Terms of the Warrants
Mila Resources, a London Stock Exchange traded natural resource
focused company, is pleased to announce that it has amended the
terms of certain warrants granted at the time of its IPO on 7
October 2016 by extending the life of certain warrants. The series
1 warrants granted to the founders will expire on 31 December 2020
as scheduled.
Warrant Amendments
Warrant Current terms Revised terms
Series 1 (Founders) Exercise price of 5p No revision - will
and due to expire on lapse on 31 December
31 December 2020 2020
---------------------- ----------------------
Series 2 Exercise price of 5p Expiration extended
and due to expire on 31 December 2022
31 December 2020
---------------------- ----------------------
IPO Investors Exercise price of 10p Expiration extended
and due to expire on to 31 December 2022
31 December 2020
---------------------- ----------------------
Mark Stephenson commented:
"I am mindful that we have long list of loyal shareholders that
have supported the Company since its IPO in 2016 and continue to do
so particularly with regard to our recently announced transaction
with New Generation Minerals ("NGM"). Therefore, we have decided to
vary the terms of the warrants to ensure our long standing
shareholders are able to utilise their warrants following the
closing of the transaction. Moreover, we are moving forward swiftly
with NGM and the bulk of the due diligence has already been
completed, therefore, we are targeting to approve the prospectus
with the FCA early in the new year"
For further information please contact:
Mila Resources Plc Tel: +44 (0)1444 471 833
Mark Stephenson (Director)
Brandon Hill Capital Limited Tel: +44 (0)20 3463 5000
Jonathan Evans (Corporate Finance) jonathan.evans@brandonhillcapital.com
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END
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