Business
EMH Raises Approx $4 Million Via Subscription
EMH Raises Approx $4 Million Via Subscription.
About this update from European Metals Holdings Ltd
[{"type":"text","content":"\n \nRNS Number : 8537X European Metals Holdings Limited 29 November 2017 \n\nFor immediate release\n29 November 2017\nEUROPEAN METALS HOLDINGS LIMITED\nEMH RAISES ~ $4 MILLION VIA SUBSCRIPTION \n \nEuropean Metals Holdings Limited (\"European Metals\" or \"the Company\") (ASX & AIM: EMH) is pleased to announce a capital raising of GBP 2,281,000 (approximately AUD 4 million - before costs) via subscriptions to predominantly UK based sophisticated investors.\n \nThe raising has been completed at a price of 35p or 61.5 cents and will be placed using the Company's capacity under Listing Rule 7.1. \n \nShard Capital Partners LLP arranged the majority of the subscriptions.\n \nThe funds will be used to advance the on-going definitive feasibility on the Cinovec deposit, Europe's largest lithium resource, and for general working capital. \n \nManaging Director Keith Coughlan said \"these funds will be used to continue the extensive works that are on-going with regards to the definitive feasibility study for Cinovec. With metallurgical optimisation work almost complete, mine design commenced and offtake discussions progressing, it is a very busy time for the Company whose licences are located in the heart of the European EV revolution\".\n \nThe Placing\nApplication will be made for the Placing Shares to be admitted to trading on AIM with admission expected to take place on or around 14 December 2017. The Placing Shares will, when issued, rank pari passu in all respects with the existing ordinary shares in EMH.\nTotal Voting Rights\n \nFollowing the issue of the up to 6,517,143 new Ordinary Shares, the total number of Ordinary Shares in issue with voting rights will be up to 138,314,728. This figure may be used by shareholders in the Company as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change of interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.\nMarket Abuse Regulations\nThe information contained within this announcement is considered to be inside information, for the purposes of Article 7 of EU Regulation 596/2014, prior to its release.\n \nENQUIRIES:\n\n\n\n\nEuropean Metals Holdings Limited\nKeith Coughlan, Chief Executive Officer\n ...