Business
Admission to AIM
Admission to AIM.
About this update from Shuka Minerals Plc
[{"type":"text","content":"\n RNS Number : 2893J Edenville Energy PLC 29 March 2010 \n \n\n29th March 2010 \nEdenville Energy Plc (AIM:EDE.L)\n(\"Edenville\" or the \"Company\")\nADMISSION TO AIM AND £1 MILLION PLACING\n \n· Six key projects- prospective uranium and uranium/coal, Tanzania\n· Exploration and development of coal for domestic sale and uranium for export\n· Matiri North and Matiri South licenses initial exploration focus\n§ Situated within Mtwara Development Corridor- Tanzania economic growth zone\n§ Exploration to begin Q2 2010\n· Uranium exploration and production fully endorsed by Tanzania mining code\n \nEdenville Energy Plc (formerly Gemstones of Africa Group Plc) the uranium and coal explorer operating in Tanzania, today announces its admission to AIM following the acquisition of Edenville International Limited (the \"Acquisition\"), which constituted a reverse takeover for the purposes of the AIM Rules for Companies and which was approved by the Company's shareholders at a general meeting held on 26 March 2010. At the same meeting, the Company's shareholders approved the change of the Company's name from Gemstones of Africa Group Plc to Edenville Energy Plc. The Company has further announced today that it has raised £1,000,000 (before expenses) by way of a placing of its ordinary shares (the \"Placing\"). ZAI Corporate Finance Limited is acting as broker to the Company and ZAI Corporate Finance Limited is acting as nominated adviser to the Company.\nEdenville, through its subsidiary Edenville International (Tanzania) Limited, has interests in six prospecting licences in Tanzania. The geological settings of these licences are considered to have the potential to host uranium mineralisation, three of which also have potential to host coal deposits. Funds from the Placing will be used to meet the costs of the corporate transaction and to provide additional working capital for the Company and its subsidiaries. The initial exploration focus will be the uranium and coal targets at the southern licences of Matiri North and Matiri South. Site investigations will be undertaken on the remaining licences. The Company wi...