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Asiamet Resources Limited : Issue of Equity
Asiamet Resources Limited : Issue of Equity.
About this update from Asiamet Resources Limited
[{"type":"text","content":"\n Asiamet Resources Limited : Issue of EquityFor Immediate ReleaseLondon AIM - Symbol \"ARS\"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\"). With The Publication Of This Announcement Via A Regulatory Information Service (\"RIS\"), This Inside Information Is Now Considered To Be In The Public Domain.11 August 2017Asiamet Resources LimitedPlacing Of Common Shares to Raise £6 Million (Approximately Us$7.9 Million) To Fund Completion of the Definitive Feasibility Study at the BKM Copper Project and Expanded Drilling Programs around BKM and At Beutong11 August 2017 -Asiamet Resources Limited, (AIM: ARS) (the \"Company\"), is pleased to announce a placing of 139,534,884 new common shares of US$0.01 each in the Company (the \"Placing Shares\") at a price of 4.3 pence per Placing Share (the \"Placing Price\") to raise a total of £6.0m (approximately US$7.9m) (before expenses) (the \"Placing\"). The net proceeds from the Placing will be used to fund completion of the definitive feasibility study for the Company's 100% owned flagship Beruang Kanan Main (\"BKM\") project, drilling of high priority targets nearby BKM, and expansionary drilling at the Beutong Porphyry Project (\"Beutong\"). The Placing Shares, which will be issued and settled in CREST, have been conditionally placed with certain institutional and other investors. The Placing is subject to admission of the Placing Shares to trading on AIM (\"Admission\"). Application has been made for the Placing Shares to be admitted to trading on AIM and it is expected that Admission will take place on or around 15 August 2017. Optiva Securities Limited (\"Optiva\") is acting as broker in connection with the Placing. Natural Resources Global Capital Partners Limited (\"NRG\") is acting as financial adviser in connection with the Placing. The Company and Optiva have entered into a placing agreement pursuant to which the Company has given conventional warranties and indemnities. Optiva also has certain termination rights in the event of certain force majeure events prior to Admission. The Company has agreed to pay fees and expenses in connection with the Placing amounting to, in aggregate, approximately £330,000 (approximately US$432,300).The Placin...