Issue of Equity and Warrants

RNS Number : 3410V

FinnAust Mining PLC

15 April 2016

 

FinnAust Mining plc / EPIC: FAM / Market: AIM / Sector: Mining

FinnAust Mining plc ('FinnAust' or the 'Company')

Issue of Equity and Warrants

FinnAust Mining plc, the AIM listed exploration company with projects in Greenland, Finland and Austria, announces that it has issued a total of 481,928 ordinary shares of 0.01p each in the capital of the Company ("Ordinary Shares") to SP Angel Corporate Finance LLP ("SP Angel"), the Company's nominated adviser and broker, in lieu of certain fees due to them.  

The new Ordinary Shares will rank pari passu in all respects with the existing ordinary shares of 0.01p each in FinnAust.

Application will be made to the London Stock Exchange for a total of 481,928 Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and that trading in the new ordinary shares will commence on or around 21 April 2016.

Following Admission, the Company's enlarged issued share capital will comprise 484,400,804 ordinary shares with voting rights.

The Company agreed to grant warrants over 625,000 Ordinary Shares to SP Angel ("Warrants") in December 2015, as part of the advisory fee due to SP Angel in connection with the acquisition of Bluejay Mining Limited ("Bluejay"). The Warrants have been granted today and are exercisable at a price of 2 pence per share, being the closing mid-market price of Ordinary Shares on the day prior to the announcement of the acquisition of Bluejay, and are exercisable for a period of five years from the date of grant.

For further information please visit www.finnaust.com or contact:

Roderick McIllree	FinnAust Mining plc	[phone]
Graham Marshall	FinnAust Mining plc	[phone]
Ewan Leggat	SP Angel Corporate Finance LLP	[phone]
Laura Harrison	SP Angel Corporate Finance LLP	[phone]
Elisabeth Cowell	St Brides Partners Ltd	[phone]
Charlotte Heap	St Brides Partners Ltd	[phone]

 

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