Issue of Convertible Security

RNS Number : 8474E

Alba Mineral Resources PLC

03 March 2020

 

Alba Mineral Resources plc

(" Alba " or the " Company ")

Issue of Convertible Security

Alba Mineral Resources plc (AIM: ALBA), the diversified mineral exploration and development company makes this announcement further to its announcement of 24 February 2020 regarding the convertible securities issuance deed (the "Agreement") which the Company has entered into with a U.S.-based institutional investment fund managed by Bergen Asset Management, LLC (the "Investor") to provide up to £1,054,500 of funding in the form of the issuance by the Company of unsecured zero coupon convertible securities (the "Convertible Securities"). 

In accordance with the Agreement, the Company has issued a Convertible Security with the nominal value of £223,000 (at the purchase price of £192,000) on, and subject to, the terms and conditions set out in the Agreement, the details of which were disclosed to the market in the Company's announcement of 24 February 2020.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

For further information, please contact:

Alba Mineral Resources plc George Frangeskides, Executive Chairman	[phone]
Cairn Financial Advisers LLP ( Nomad )  James Caithie / Liam Murray	[phone]
First Equity Limited (Broker) Jason Robertson	[phone]

Alba's Project and Investment Portfolio

Project (commodity)	Location	Ownership
Mining Projects
Amitsoq (graphite)	Greenland	90%
Clogau (gold)	Wales	90%
Inglefield (copper, cobalt, gold)	Greenland	100%
Limerick (zinc-lead)	Ireland	100%
Melville Bay (iron ore)	Greenland	51%
TBS (ilmenite)	Greenland	100%
Oil & Gas Investments
Brockham (oil)	England	5%
Horse Hill (oil)	England	11.765%

 

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