Greenland Spin Out IPO Release of Schedule One

RNS Number : 6731K

Alba Mineral Resources PLC

03 September 2021

 

Alba Mineral Resources plc

("Alba" or the "Company")

Greenland Spin-Out IPO

Release of Schedule One for GreenRoc Mining Plc

Further to the announcements of 20 July and 31 August 2021 regarding the proposed divestment by Alba Mineral Resources plc (AIM: ALBA) of its Greenlandic mining assets into a separate AIM-quoted vehicle, the Company is pleased to announce the release today by AIM of a Schedule One announcement in respect of GreenRoc Mining Plc ("GreenRoc"), a link to which is provided here Schedule One - GreenRoc Mining Plc - 08:00:03 03 Sep 2021 - News article | London Stock Exchange .

The Schedule One announcement provides at least ten business days' notice of the expected date of GreenRoc's admission to trading on AIM ("Admission"), and sets out certain prescribed information, including the following:

-  Gross funds expected to be raised on Admission: £5.12m

-  GreenRoc's expected market capitalisation on Admission: £11.1m

-  GreenRoc's Board: Kirk Adams (CEO), George Frangeskides (Non-Executive Chairman), Jim Wynn (Finance Director), Mark Austin, Lars Brunner and Mark Rachovides (Non-Executive Directors)

-  Expected date of Admission: mid-September 2021

As previously announced, in consideration of the divestment of its Greenlandic assets to GreenRoc, Alba is to receive GreenRoc shares valued at £6m on Admission, which shareholding is expected to represent 54.0% of the enlarged share capital of GreenRoc on Admission.

This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.

Forward Looking Statements

This announcement contains forward-looking statements relating to expected or anticipated future events and anticipated results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, competition for qualified staff, the regulatory process and actions, technical issues, new legislation, uncertainties resulting from potential delays or changes in plans, uncertainties resulting from working in a new political jurisdiction, uncertainties regarding the results of exploration, uncertainties regarding the timing and granting of prospecting rights, uncertainties regarding the timing and granting of regulatory and other third party consents and approvals, uncertainties regarding the Company's or any third party's ability to execute and implement future plans, and the occurrence of unexpected events. 

Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors.

For further information, please contact:

Alba Mineral Resources plc George Frangeskides, Executive Chairman	[phone]
Cairn Financial Advisers LLP (Nomad)  James Caithie / Liam Murray	[phone]
ETX Capital (Broker) Thomas Smith	[phone]

Alba's Project and Investment Portfolio

Project (commodity)	Location	Ownership
Mining Projects
Amitsoq (graphite)	Greenland	100%
Clogau (gold)	Wales	90%
Gwynfynydd (gold)	Wales	100%
Inglefield (copper, cobalt, gold)	Greenland	100%
Limerick (zinc-lead)	Ireland	100%
Melville Bay (iron ore)	Greenland	100%
TBS (ilmenite)	Greenland	100%
Oil & Gas Investments
Horse Hill (oil)	England	11.765%

 

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