Business
Readmission to Trading & First Day of Dealings
Readmission to Trading & First Day of Dealings.
About this update from Mila Resources Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 1980T\n Mila Resources PLC\n 23 November 2021\n \n \n \n \n Mila Resources Plc / Index: LSE / Epic: MILA / Sector: Natural Resources\n \n \n \n \n \n 23 November 2021\n \n \n Mila Resources Plc\n \n \n \n \n \n ('Mila' or the 'Company')\n \n \n \n \n \n Readmission to Trading & First Day of Dealings\n \n \n \n \n \n Further to the announcement of 22 November 2021, the board of Mila is pleased to announce the readmission of its entire share capital, being 306,331,057 ordinary shares of £0.01 each (\"Ordinary Shares\") to the Official List (by way of a Standard Listing under Chapter 14 of the Listing Rules) and to trading on the London Stock Exchange's Main Market for listed securities (the \"Readmission\"). The Company's Readmission follows the acquisition of an initial 30% interest in the Kathleen Valley gold project and the exploration licence E36/876 in the Kathleen Valley (satisfied by the issue of 83,543,197 Ordinary Shares at a price of £0.024 per Ordinary Share, £300,000 in cash consideration, the issue of 15,448,370 Ordinary Shares to Diversified Minerals Pty Ltd (\"DM\") pursuant to the DM loan agreement dated 4 February 2021, and by novating the £229,393 Series 3 Loan Notes from New Generation Minerals Limited to the Company which converts to 12,744,032 Ordinary Shares on Readmission.). In addition, the Company has granted 242,264,111 warrants, on the terms and as set out in the Prospectus dated 29 October 2021 to, the directors, certain advisors, investors and shareholders, all of which are due to expire on 31 December 2026.\n \n \n \n \n \n Dealings will commence at 8.00 a.m. today under the TIDM \"MILA\" with ISIN number GB00BD4FCK53.\n \n \n \n \n \n Overview\n \n \n · \n Readmission to the Official List following the acquisition, by way of a reverse takeover, of 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 - with the intention to acquire an additional 50% interest in the Licence and the Project in two further tranches:\n \n \n · \n Maiden gold discovery 2019 at Kathleen Valley \n \n \n · \n 'Tip of the iceberg': initial 21,000oz gold JORC Inferred resource defined and \n 145,000-2...