Business
Placing
Placing.
About this update from Talisman Metals Plc
[{"type":"text","content":"\n Ovoca Gold PLC\n07 June 2006\n\n\n\n Ovoca Gold Plc advances following completed £5 million Private placement\n\n\nOvoca Gold Plc (AIM: OVG; IEX: OVX) wishes to announce the successful completion\nof a private placement to raise £5 million. A total of 60,408,452 new Ordinary\nShares and 30,204,226 Warrants were placed. The placing consists of one share at\n8.25p, with one warrant attached to every two shares subscribed for, at a price\n12p, exercisable by 30 November 2007.\n\nThe funds raised are to be deployed on the evaluation and development of the\nrecently acquired silver deposit Goltsovoye, located in the Magadan Oblast of\nnorth-east Russia, in addition to advancing the company's other projects in the\nKola Peninsula and in Scandinavia.\n\nOn 18 April 2006, Ovoca Gold announced that it was acquiring a 74% interest in\nCJSC Ayax Prospectors Artel Company, the owner of the Goltsovoye licences. The\nacquisition consideration is met via the issue of 110,001,518 shares and a\ndeferred payment of US$1 million in cash.\n\nThe new Russian directors, who joined the Ovoca Gold Board following the\napproval of the acquisition of the interest in CJSC Ayax, subscribed £2.01\nmillion of the £5 million private placement.\n\nIn connection with the placing Ovoca Gold will issue 1.8 million broker warrants\nto DBM Capital, at a price of 12 pence exercisable by 30 November 2007.\n\n\n Ovoca Gold Plc is an international exploration company with dual listing in\n London (OVG.L) and Dublin (OVX.IR), exploring for precious and base metals in\n Russia, Sweden and Ireland\n\n\nFor further information please visit www.ovocagold.com or contact:\n\nDr Barrie Oakes, CEO - Ovoca Gold Plc Roger Turner, Chairman - Ovoca Gold Plc\nTel: +44 (0)207 397 8151 Tel: +44 (0)207 397 8151\nEmail: [email protected] Email: [email protected]\n\nJohn O'Connor, Secretary - Ovoca Gold Plc Simon Beardsmore, Commercial Manager - Ovoca Gold Plc\nTel: +353 (0)1 491 2944 Tel: +44 (0)207 397 8151\nEmail [email protected] Email: [email protected]\n\nJohn Frain / Fergal Meegan - Davy Richard Chase- Ambrian (AIM Broker)\nTel: +353 (0)1 679 6363 +44 (0)207 776 6461\nEmail: [email protected] Email: [email protected]\n\nNick Bias / Alex Buck - Buck Bias (UK PR) Tom McCormack - Connexions PR (Irish PR)\nTel: +44 (0)7887 920 53...