Business
Results of Placing and Notice of General Meeting
Results of Placing and Notice of General Meeting.
About this update from Jubilee Metals Group Plc
[{"type":"text","content":"\n\nJubilee Metals Group PLC\n(\"Jubilee\" or \"the Company\" or \"the Group\")\nRegistration number (4459850)\nAltx share code: JBL\nAIM share code: JLP \nISIN: GB0031852162\n \nTHE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \nResults of Placing\nNotice of General Meeting\nInvestor Webcast\n \nJubilee is pleased to announce that further to its announcement of 7.00 a.m. (London time) on 15 December 2023 (the \"Placing Announcement\"), that it has successfully closed the Placing.\nResult of Conditional Placing\nFollowing strong demand in the bookbuild, the total gross proceeds from the Placing has increased from the minimum amount of approximately £10 million to £13 million (approximately US$16.6 million[1]) through the placing of 236,363,636 new Ordinary Shares (the \"Placing Shares\") with certain institutional and other investors at a price of 5.5 pence per share (the \"Placing Price\").\nThe Placing is not being underwritten and is conditional, inter alia, upon:\na) the passing, without amendment, of the Resolution, at the General Meeting;\nb) Admission becoming effective by no later than 8.00 a.m. on 4 January 2024 (or such other time and/or date, being no later than 8.00 a.m. on 15 February 2024, as the Joint Brokers and the Company may agree);\nc) the other conditions in the Placing Agreement being satisfied or (if applicable) waived; and\nthe Placing Agreement not having been terminated in accordance with its terms prior to Admission.\n \nUse of Proceeds\nThe Placing is specifically targeting Jubilee's Zambian Copper operations, in order to accelerate the implementation of our newly acquired Copper Waste Rock Project in partnership with International Resources Holdings (\"IRH\"), as follows:\n· Pay the initial payment of US$1.75 million, due under the agreement for the acquisition of the copper waste...