Issue of Equity; Update

About this update from Imc Exploration Group Plc

[{"type":"text","content":"\n \nTHE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY IMC TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014, AS AMENDED (\"MAR\"). ON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE (\"RIS\"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN. THE SHARE PLACING DESCRIBED BELOW DOES NOT FORM PART OF A LARGER, ONGOING TRANSACTION AND, ACCORDINGLY, FURTHER DISCLOSURE UNDER ARTICLE 17 OF MAR IS NOT REQUIRED. \n\nIMC EXPLORATION GROUP PLC(“IMC” or the “Company”)SHARE PLACING; EXPLORATION UPDATE\n\nUpdate to Announcement Dated 26th July 2019; differs in respect only to anticipated Admission date\n\nFollowing the admission to the standard segment of the Official List of the Financial Conduct Authority of the United Kingdom (”FCA”) and to trading on the regulated market of the London Stock Exchange (“Admission”) of the whole of the issued share capital of the Company, the Board of IMC is pleased to announce that it has raised GBP 100,000 (one hundred thousand pounds Sterling) before expenses by way of a placing (the “Placing”) of 10,000,000 (ten million) new ordinary shares of EUR0.001 each (\"Shares\") in the Company at a price of 1p per share (the “Placing Shares”), conditional only upon Admission of the Placing Shares. Alongside each Placing Share will be issued a warrant to subscribe for one further Share at a price of 1p per Share, exercisable for one year from the date of issue (“Warrant”). There is no intention to make application for admission to trading on any public market of the 10,000,000 Warrants. The Placing Shares will rank in all respects pari passu with the existing Shares, of which 255,014,285 are in issue. Application is being made for Admission of the Placing Shares, which is expected to occur on or about 31st July 2019. The total number of Shares in issue following the Placing will be 265,014,285 (previously 255,014,285).\n\nThe net proceeds of the Placing will be applied to general working capital purposes, including acceleration of the Company’s geological work on the Avoca project in Co. Wicklow, Ireland. Recently, samples of the spoil heaps were taken at one metre intervals through the upper sections of the heaps. Sulphide mineralisation was visible throughout. A po...

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