Business
Sunbeam 2nd Instalment, Funding & Issue of Equity
Sunbeam 2nd Instalment, Funding & Issue of Equity.
About this update from First Class Metals Plc
[{"type":"text","content":"\n \n \n The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the \"UK MAR\") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n FIRST CLASS METALS PLC\n \n \n \n \n 7th February 2023\n \n \n \n \n Sunbeam Second Instalment, Funding & Issue of Equity\n \n \n \n \n \n \n \n First Class Metals PLC (\"First Class Metals\" \"FCM\" or the \"Company\")\n \n the UK metals exploration company seeking large scale metal discoveries across its extensive Canadian Schreiber-Hemlo & Sunbeam land holding is pleased to provide an update on the Sunbeam past producing high grade gold mine.\n \n \n \n \n \n \n \n \n Highlights\n \n \n \n \n \n \n \n \n ·\n Second payment of CAD$150,000 made to Nuinsco Resources Ltd (CNSX:NWI) (Nuinsco) which will trigger the transfer of ownership of the 'core' Sunbeam mine area claims to FCM ($550,000 of the $700,000 total acquisition amount now paid).\n \n \n ·\n \n Historical Data Review\n \n commenced with the objective of gaining a greater understanding of this past producing high grade gold project and its district potential.\n \n \n ·\n Archaeological heritage review commenced in order to identify and preserve any specific areas of special significance to the local First Nations Peoples.\n \n \n ·\n Drawdown requested of the second tranche, Sanderson Capital Partners Limited (Sanderson) Convertible Loan Note (CLN), which is set at a fixed conversion price of 15p per share.\n \n \n ·\n Tender process for 2023 Sunbeam Drilling Program initiated.\n \n \n \n \n \n \n \n Since announcing the Sunbeam acquisition in early October 2022, we have been working to advance the project, this started with the award of the Exploration Permits which allows drilling, announced on the 19th October2022.\n \n \n https://polaris.brighterir.com/public/first_class_metals/news/rns/story/x87m39w\n \n \n \n \n \n \n \n Following on from the...