Equity Placing

RNS Number : 9389J

Amur Minerals Corporation

16 April 2020

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU NO. 596/2014) ("MAR"). MARKET SOUNDINGS, AS DEFINED IN MAR, WERE TAKEN IN RESPECT OF THE PLACING, WITH THE RESULT THAT CERTAIN PERSONS BECAME AWARE OF INSIDE INFORMATION, AS PERMITTED BY MAR.  THAT INSIDE INFORMATION IS SET OUT IN THIS ANNOUNCEMENT.  THEREFORE, THOSE PERSONS THAT RECEIVED INSIDE INFORMATION IN A MARKET SOUNDING ARE NO LONGER IN POSSESSION OF INSIDE INFORMATION RELATING TO THE COMPANY AND ITS SECURITIES .

Amur Minerals Corporation

("Amur" or the "Company")

Equity Placing

Amur Minerals Corporation is pleased to announce that it has placed, subject only to admission to trading on AIM, 75,000,000 new Ordinary Shares in the Company (the "Placing Shares") at a price of 1p per share to raise gross proceeds of £750,000  (the "Placing").

WH Ireland Limited is acting as Financial Adviser in relation to the Placing (the "Financial Adviser").

Reasons for the Placing

The funds raised are to be applied to repay the initial advance from the loan note facility from Plena Global Opportunities LLC, the details of which are set out in the announcement of 12 March 2020, and also for general working capital purposes to progress, amongst other things, the work on the Company's TEO.

Current Trading and Prospects

The Company, by RNS Release of 12 March 2020, has already outlined its principal working plan for the year ahead at the Kun-Manie nickel copper sulphide project.  Key employees are working remotely due to the lockdown of COVID 19, and Amur is monitoring the situation closely and will update the market as appropriate. The Company is mindful of the deadline of 1 December 2020 to complete certain work on the licence area. The Directors are confident that the work will be completed on the licence in time. However, if the lockdown is extended indefinitely; and if the Company is unable to complete the associated work programme before the deadline, and if an extension to that deadline is not granted by the Russian authorities, it would put the licence at significant risk.  The Company will continue to update investors regularly and in detail on its progress.

Application will be made to the London Stock Exchange plc for 75,000,000 Placing Shares to be admitted to trading on the AIM market with admission expected to occur on or around 23 April 2020. The new Ordinary Shares rank pari passu in all respects with the existing Ordinary Shares including the right to receive any dividend or other distribution thereafter declared, made or paid.  There are no Ordinary Shares held in treasury. Therefore, the total number of voting rights in the Company, following the issue of 75,000,000 Placing Shares is 920,441,101.

Qualified Person's Statement:

The information contained in this announcement has been reviewed and approved by the CEO of Amur, Mr. Robin Young.  Mr. Young is a Geological Engineer (cum laude), a Professional Geologist licensed by the Utah Division of Occupational and Professional Licensing, and is a Qualified Professional Geologist, as defined by the Toronto and Vancouver Stock Exchanges and a qualified person as defined by the AIM Rules for Companies.  An employee of Amur for 15 years, previously Mr. Young was employed as an independent consultant with Fluor Engineers, Fluor Australia and Western Services Engineering, Inc. during which time his responsibilities included the independent compilation of resources and reserves in accordance with JORC standards.  In addition, he was the lead engineer and participant of numerous studies and projects requiring the compilation of independent Bankable Studies utilised to finance small to large scale projects located worldwide.  Mr. Young is responsible for the content of this announcement.

For further information please contact:

Amur Minerals Corp www.amurminerals.com Robin Young, CEO Tel: [phone] SP Angel Corporate Finance (Nomad & Broker) Richard Morrison/Soltan Tagiev Tel: [phone] WH Ireland Limited (Financial Adviser) Harry Ansell/Katy Mitchell Tel: [phone]

 

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