Business
Placing & Issue of Equity
Placing & Issue of Equity.
About this update from Ecr Minerals Plc
[{"type":"text","content":"\n\n \n \n \n Placing & Issue of Equity\n \n \n\n \n Mercator Gold Plc\n \n \n\n \n \n \n MERCATOR GOLD plc(“Mercator Gold”, “Mercator” or “the \n Company”)\n \n \n PLACING & ISSUE OF EQUITY\n \n \n London 7 October 2009\n \n \n PLACING\n \n \n The Company has made a placement of 3.125 million shares at 4 pence per \n share to raise £125,000. The placement, made at a 15% premium to the \n market, was organised through the Company’s long time advisors, Loeb \n Aron, at a cost of 5% plus broker warrants. The funds raised will be \n used to continue the work on the Copper Flat Project.\n \n \n EXERCISE OF WARRANTS\n \n \n The Company also announces that pursuant to the terms of a Warrant \n Instrument by way of Deed Poll dated 29 May 2009, Notice of Exercise has \n been received for 114 Warrants for Ordinary Shares of 0.1p each in the \n Company (the 'Shares') at a subscription price of 5p each.\n \n \n The Company has applied for the 3,125,000 and 114 Shares (3,125,114 New \n Ordinary Shares in total) to be admitted to trading on AIM. Admission is \n expected to take place on 8 October 2009. The New Ordinary Shares will \n rank pari passu in all respects with the existing ordinary shares in the \n Company currently traded on AIM. Following admission there will be \n 124,368,596 New Ordinary Shares in issue.\n \n \n Managing Director, Patrick Harford, said: “The placement of \n shares - achieved at a premium to market price - strengthens Mercator’s \n balance sheet and provides the financial headroom for the company to \n pursue its current work programmes.”\n \n \n For further information please contact\n \n \n \n \n \n Mercator Gold plc\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Michael Silver, Chairman\n \n \n \n \n Tel:\n \n \n \n \n +44 (0) 20 7929 1010\n \n \n \n \n Patrick Harford, Managing Director\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Email: [email protected]\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Website: www.mercatorgold.com\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Bankside Consultants Ltd\n \n \n \n \n \n Tel:\n \n \n \n \n +44 (0) 20 7367 8888\n \n \n \n \n Simon Rothschild\n \n \n \n \n \n \n \n \n \n \n \n \n Oliver Winters\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n  ...