Business
Cornish Metals announces intention to float
Cornish Metals announces intention to float.
About this update from Cornish Metals Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 5152L\n Cornish Metals Inc.\n 13 January 2021\n \n \n \n \n CORNISH\n \n METALS\n \n \n \n \n \n \n CORNISH METALS ANNOUNCES INTENTION TO FLOAT ON THE AIM MARKET OF THE LONDON STOCK EXCHANGE AND AN EQUITY RAISE OF UP TO £5 MILLION TO ADVANCE THE UNITED DOWNS COPPER-TIN PROJECT\n \n \n \n \n \n Vancouver, January 13, 2021 \n \n \n \n Cornish Metals Inc.\n \n (TSX-V: CUSN) (\"Cornish Metals\" or the \"Company\") is pleased to announce its intention to apply for admission of its common shares (the \"Common Shares\") to trading on the Alternative Investment Market (\"AIM\") of the London Stock Exchange (\"Admission\"). Concurrently with Admission, and subject to receipt of all necessary regulatory approvals, including approval of the TSX Venture Exchange (the \"TSX-V\"), the Company is proposing to raise £5 million by way of private placement of new Common Shares (the \"Fundraising\") to advance the United Downs copper-tin project (\"United Downs\" or the \"Project\"). The Company expects that Admission will become effective in February 2021. The Company's Common Shares will continue to be listed and trade on the TSX-V in Canada.\n \n \n \n Richard Williams, CEO of Cornish Metals, stated, \n \n \"I am delighted to share our decision to bring Cornish Metals to the London market. This is an opportunity for us to partner with investors from the United Kingdom, to work towards becoming a domestic supplier of technology metals fundamental to the world of e-vehicles, battery technology, renewable energy, 5G internet, computing, data storage, robotics, etc.\"\n \n \n \"United Downs is one of the most exciting exploration projects in the country. The commencement of a drilling programme will mark the start of a strategy to create a mining company with a Cornwall focus. There is an opportunity for Cornish Metals to become a domestic source of metals to the UK's high-tech sector, where copper, tin and lithium are important.\"\n \n \n \"I would like to take this opportunity to welcome both SP Angel and Hannam & Partners to the team, and I would also like to thank our existing shareholders for providing us with the support to reach this milestone.\"\n \n \n The Company's core projects are the United Downs underground copper-tin exploration project and the South Crofty tin project (\"Sou...