Business
Publication of Prospectus & Notice of GM
Publication of Prospectus & Notice of GM.
About this update from Mila Resources Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 7818Q\n Mila Resources PLC\n 29 October 2021\n \n \n \n \n Mila Resources Plc / Index: LSE / Epic: MILA / Sector: Natural Resources\n \n \n \n \n \n 29 October 2021\n \n \n Mila Resources Plc\n \n \n \n \n \n ('Mila' or the 'Company')\n \n \n \n \n \n Approval and Publication of Prospectus\n \n \n Notice of General Meeting\n \n \n \n \n \n Mila Resources Plc is pleased to announce that its prospectus has been approved by the Financial Conduct Authority (the 'FCA') and published today by the Company (the 'Prospectus'). The Prospectus relates to the readmission of the Company's ordinary shares to the standard listing segment of the Official List of the FCA and to trading on the Main Market for listed securities of the London Stock Exchange plc ('Readmission'), expected at 8.00 a.m. on 23 November 2021.\n \n \n \n \n \n \n \n \n Overview\n \n \n · \n Conditionally raised gross proceeds of £3,500,000 through a Placing and Subscription at an offer price of 2.4p per share (the 'Offer Price') \n \n \n · \n Conditional agreement to acquire an initial 30% interest in exploration licence E36/876 in the Kathleen Valley (the 'Licence') and the Kathleen Valley Gold Project (the 'Project') (collectively the 'Acquisition') in Western Australia from Trans Pacific Energy Group Pty Ltd ('TPE'), a wholly owned subsidiary of New Generation Minerals Limited ('NGM') - with the intention to acquire an additional 50% interest in the Licence and the Project in two further tranches\n \n \n · \n The Project is located in the Wiluna-Jundee belt and adjacent to Bellevue Gold\n \n \n · \n The region hosts some of the largest gold projects in Australia and offers good mining infrastructure and development options - with no requirement to build plant necessarily\n \n \n · \n Funds raised will support a comprehensive exploration and drilling programme at the Project, including the proposed first drill programme of 11,000m, and for further working capital \n \n \n · \n Based on the Offer Price, the market capitalisation of the Company will be approximately £7.3 million at the commencement of dealings on the main market of the London Stock Exchange, anticipated 23 November 2021 under the ticker MILA\n \n \n \n \n \n \n Mila Executive Director, Mark Stephenson, said:\n \n \n \n \n...