Issue of Equity

RNS Number : 9162V

Eurasia Mining PLC

03 February 2017

 

Eurasia Mining plc (AIM: EUA) 

("Eurasia" or the "Company")

Issue of Equity

Eurasia Mining plc, the PGM mining and exploration company, announces that it has issued 15,652,174 new ordinary shares of 0.1 pence (the "New Shares") both in settlement of fees relating to a drawdown on the Sanderson Capital Partners ('SCP') facility and as a fee for incorporation of a pre-existing facility with SCP into the current loan agreement which was outlined in RNS dated 21 December 2016, the details of which are as follows:

-     a drawdown of £100,000 was executed on the 17 January 2017 with associated fees paid by issue of 2,608,696 ordinary shares in the company's share capital. The shares are issued at £0.00575 per share, being the closing share price on 17 January 2016; and

-     SCP has elected to incorporate an amount of £500,000 outstanding from a previous facility (see RNS dated 1 August 2016)into the current facility; fees associated with this transaction (being a 15% fee) are to be settled by issue of 13,043,478 ordinary shares in the capital of the company at £0.00575, being the mid open price on 30 January 2017.

Accordingly the Company has today issued a total of 15,652,174 New Shares and dealings in these shares are expected to commence on the 8 February 2017.

Following the issue of the new shares the total number of issued ordinary shares in the Company will be 1,525,439,757 ordinary shares and consequently the total number of voting rights in the Company will be 1,525,439,757 . This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in the share capital of the Company under the Disclosure and Transparency Rules.

The Company also confirms that updates regarding the West Kytlim project are expected to be released next week beginning 6 February 2017.

Enquiries:

Eurasia Mining Plc

Christian Schaffalitzky/Michael de Villiers

[phone]

WH Ireland Limited

Katy Mitchell/Nick Prowting

[phone]

Beaufort Securities

Elliot Hance

[phone]

 

END

 

 

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