Business
First Class Metals PLC Initial Admission
First Class Metals PLC Initial Admission.
About this update from First Class Metals Plc
[{"type":"text","content":"\n \n \n \n First Class Metals PLC\n \n \n \n \n 29th July 2022\n \n \n \n \n \n \n \n \n \n First Class Metals Plc\n \n \n \n \n (\"First Class Metals PLC\" \"First Class\" or the \"Company\")\n \n \n \n \n \n \n \n ADMISSION TO TRADING ON THE MAIN MARKET, CLOSING OF £1.13 MILLION FUNDRAISING & FIRST DAY OF DEALINGS\n \n \n \n First Class Metals Plc (LSE: FCM), a mineral exploration and development company, with projects in Ontario, Canada is pleased to announce that its entire issued ordinary share capital consisting of 65,672,055 ordinary shares will today be admitted to the Official List (by way of Standard Listing under Chapter 14 of the Listing Rules) and to trading on the London Stock Exchange's Main Market for listed securities (together, the \"Admission\"). Dealings in the shares will commence today at 08.00 a.m., 29th July 2022 under the ticker 'FCM'. The ISIN number is\n GB00BPJGTF16 and the SEDOL is BPJGTF1.\n \n \n Upon Admission, the company will have a market capitalisation of £6.56m, following a successful total fundraise of £1.13m (before expenses) at the price of 10 pence per Ordinary Share (\"the placing\" & \"the Subscription\")\n \n \n \n Highlights\n \n \n \n - Successful £1.13 million fundraising at 10p per share\n \n \n - With effect from Admission First Class, will have seven gold, base and battery metal exploration projects in Ontario, Canada (the \"Projects\")\n \n \n - The Flagship Project is North Hemlo, a District Scale 90km2 property which is prospective for gold, nickel, copper, zinc and molybdenum.\n \n \n - JV/Earn-In with Palladium One Inc (TSXV: PDM) at Pickle Lake.\n \n \n - Exploration work already underway across the majority of properties.\n \n \n - Convertible Loan Note of £300,000 converted into equity in addition to the Placing and Subscription.\n \n \n - The proceeds of the Fundraising will be used to undertake exploration and development expenditure of the Projects and provide working capital to cover ongoing annual administrative and operating costs.\n \n \n \n \n \n \n \n \n \n \n \n \n \n James Knowles, Executive Chairman of First Class Metal Plc, commented\n \n \n \n \"We are delighted to start trading on the Main List of the London Stock Exchange today and that First Class Metals has satisfied all the requi...