EUA.L

Eurasia Mining Plc
Eurasia Mining PLC - Sanderson Loan Drawdown and Issue of Equity
10th December 2024, 16:06
TwitterFacebookLinkedIn
To continue viewing RNS, please confirm that you are a Private Investor*

* A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:

  1. Obtains access to the information in a personal capacity;
  2. Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
  3. Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
  4. Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
  5. Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
  6. Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
RNS Number : 5640P
Eurasia Mining PLC
10 December 2024
 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN REGULATION NO. 596/2014 (AS IT FORMS PART OF RETAINED EU LAW AS DEFINED IN THE EUROPEAN UNION (WITHDRAWAL) ACT 2018) AND IS IN ACCORDANCE WITH THE COMPANY'S OBLIGATIONS UNDER ARTICLE 7 OF THAT REGULATION.

 

10 December 2024

 

Eurasia Mining PLC

 

Sanderson Loan Drawdown and Issue of Equity

 

Eurasia Mining PLC ("Eurasia" or the "Company"), the palladium, platinum, rhodium, iridium and gold mining company, announces that, pursuant to its trade finance loan agreement with Sanderson Capital Partners Limited ("Sanderson") (the "Loan") as announced on 6 September 2024, the Company has elected to drawdown a further £150,000 from Sanderson, which will be used for general corporate purposes.

 

Following the passing of the resolutions at the Company's Annual General Meeting held on 15 November 2024, Eurasia has also issued ordinary shares of 0.1 pence each in the capital of the Company ("Ordinary Shares") to Sanderson in conjunction with the Loan:

 

·      14,021,739 Ordinary Shares issued pursuant to the Loan financing fee and associated legal costs, issued at 2.3 pence each, representing a premium of 16% to the Company's closing price of 1.98 pence on 9 December 2024 (the "Latest Closing Price");

·      A fee of 5% paid in Ordinary Shares, being 500,000 in number, issued pursuant to the conversion of the first tranche drawdown of £250,000, converted at a price of 2.5 pence each, representing a premium of 26% to the Latest Closing Price; and

·      A fee of 5% paid in Ordinary Shares, being 300,000 in number, issued pursuant to the second drawdown of £150,000, converted at a price of 2.5 pence each, representing a premium of 26% to the Latest Closing Price.

 

In addition, pursuant to the terms of the Loan, warrants over 54,347,826  Ordinary Shares have been granted to Sanderson (the "Warrants"). The Warrants have an exercise price of 4.0 pence, representing a premium of 102% to the Latest Closing Price, and will expire on 10 December 2026.

 

The Company will provide updates regarding further drawdowns of the Loan as appropriate.

 

Application for Admission and Total Voting Rights

 

Application will be made for the 14,821,739 new Ordinary Shares to be admitted to trading on AIM ("Admission") and dealings are expected to commence on or around 16 December 2024. The new Ordinary Shares will rank pari passu in all respects with the Company's existing Ordinary Shares.

 

Following Admission, the Company will have 2,879,381,734 Ordinary Shares in issue. The Company has no shares in treasury, therefore the figure of 2,879,381,734 Ordinary Shares should be used by shareholders for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

 

 

For further information, please contact:

 

Eurasia Mining Plc

Christian Schaffalitzky

+44 (0)207 932 0418

 

SP Angel Corporate Finance LLP (Nomad and Broker)

Jeff Keating / David Hignell / Adam Cowl

+44 (0)20 3470 0470

 

Yellow Jersey PR (Financial PR) 

Charles Goodwin / Shivantha Thambirajah                              

+44 (0)207 932 0418

eurasia@yellowjerseypr.com

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
IOEURRNRSRUUAAA]]>
TwitterFacebookLinkedIn