Business
Exercise of Warrants and Quarterly Report Update
Exercise of Warrants and Quarterly Report Update.
About this update from Strategic Minerals Plc
[{"type":"text","content":"\n \nRNS Number : 8722Y Strategic Minerals PLC 08 March 2017 \n\nMarket Abuse Regulation (MAR) Disclosure\nCertain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.\n \n8 March 2017\n \nStrategic Minerals plc\n(\"Strategic Minerals\" or the \"Company\" or \"SML\")\n \nExercise of Warrants and Update re Quarterly Report\n \nStrategic Minerals PLC (AIM: SML; USOTC; SMCDY), the diversified mineral production and development company, announces that Cornhill Capital Limited has provided a notice exercising its warrants over 8,333,333 ordinary shares of 0.1p each in the Company at a price of £0.006 per share. SML has received £50,000 pursuant to the exercise of these warrants and will notify the market when the new ordinary shares have been issued.\n \nThe Company also announces that it will not issue a quarterly update for December 2016 in light of the recent RNS disclosures relating to its three main areas of operations, namely Cobre (see RNS announcements dated 17 January 2017 and 1 February 2017), Redmoor (see RNS announcements dated 12 January 2017, 24 January 2017, 6 February 2017 and 2 March 2017) and Hanns Camp (see RNS announcement dated 28 February 2017). The Board considers no additional relevant information would be disclosed by such an announcement apart from the Company's cash balance at 31 December 2016, which stood at USD1.205 million. The Company expects to provide an update for the quarter ended 31 March 2017 by early May. \n \nCommenting, John Peters, Managing Director of Strategic Minerals said:\n \n\"The exercise of the warrants by Cornhill Capital, associated with our June 2015 share issue, concludes our outstanding warrants and leaves only the options held by directors and management outstanding. These options do not begin to vest until the share price reaches £0.015 with the earliest maturing in June 2018.\"\n \nFor further information, please contact:\n \n\n\n\n\nStrategic Minerals plc\nJohn Peters\nManaging Director\nwww.strategicminerals.net\nFollow Strategic Minerals on:\nTwitter: @SML_Minerals &nb...