Clarification Announcement Issue Convertible Loan

RNS Number : 2621P

Equatorial Mining & Exploration PLC

16 February 2016

 

16 February 2016

Equatorial Mining and Exploration Plc

("EME" or the "Company")

Clarification Announcement on:

Issue of Convertible Loan

and Warrants to Subscribe for Ordinary Shares

The announcement released by EME earlier today erroneously stated that the Company has raised £325,000. The Company would like to clarify that the announcement disclosed is as follows:

Equatorial Mining & Exploration Plc announces that it has raised £360,000 before expenses through the issue of an 8 per cent. Unsecured Irredeemable 0.1 pence Convertible Loan Notes (the" Convertible Loan") to a group of existing investors.

The Company has also issued to the same investors, 360,000,000 warrants to subscribe for new ordinary shares at 0.01 pence per share.  The Company now has a total of 1,500,000,000 warrants in issue.

The proceeds will be used to cover certain initial costs needed to advance our move to the Standard List this year and to develop EME's mining and exploration interests in Nigeria.

Enquiries:

Corporate Adviser Alexander David Securities Limited David Scott - Head of Corporate Finance

[phone] http://www.ad-securities.com

The Directors of the Company take responsibility for this announcement.

 

END

 

 

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