Statement re Escrow Securities Update

RNS Number : 4900K

Adriatic Metals PLC

22 April 2020

 

Adriatic Metals PLC 

('Adriatic Metals' or the 'Company')

ESCROW SECURITIES UPDATE

Adriatic Metals PLC (ASX:ADT, LON:ADT1) ("Adriatic" or "the Company"), confirms that in accordance with ASX Listing Rule 3.10A a total of 47,846,088 CDIs and 14,500,000 unlisted options will be released from their 24 month escrow restriction.  The escrow restriction lapses on 1 May 2020 and the Company will apply for the quotation of the escrowed CDI securities.

Authorised by, and for further information please contact:

Gabriel Chiappini
Joint Company Secretary
[e-mail]

** ENDS **

ABOUT ADRIATIC METALS

Adriatic Metals PLC (ASX:ADT, LON:ADT1) ("Adriatic" or the "Company") is a dual listed (ASX and LSE) precious and base metals explorer and developer via its 100% interest in the world class Vares Project (the "Project") in Bosnia & Herzegovina. The Project comprises a historic open cut mine at Veovaca and brownfield exploration at Rupice, an advanced proximal deposit which exhibits exceptionally high grades of base and precious metals.

The Company announced the results of a Scoping Study on 19 November 2019 which indicated an NPV₈ of US$917 million and IRR of 107%, following the release of a Maiden Resource Estimate earlier the year on 23 July 2019. There have been no material adverse changes in the assumptions underpinning the forecast financial information or material assumptions and technical parameters underpinning the Maiden Resource Estimate since the original relevant market announcements which continue to apply.

Adriatic has attracted a world class team to both expedite its exploration efforts to expand the current JORC resource at the high-grade Rupice deposit and to rapidly advance the Project into the development phase utilising its first mover advantage and strategic position in Bosnia.

 

END

 

 

STRKKBBNFBKKKQB