Equity Placing

RNS Number : 9954N

Amur Minerals Corporation

27 May 2020

 

27 May 2020

AMUR MINERALS CORPORATION

(AIM: AMC)

Equity Placing

Amur Minerals Corporation ("Amur" or the "Company"), the nickel-copper sulphide mineral exploration and development company focused on the far east of Russia, is pleased to announce that the Company has raised £0.5 million, before expenses, through the placing of 47,619,048 ordinary shares of no par value of the Company ("Ordinary Shares") at a price of 1.05 pence per share ("the Placing").

SP Angel is acting as Broker in relation to the Placing.

The proceeds of the Placing will be used to progress development of the Company's Kun-Manie nickel copper sulphide project and for general working capital purposes.

Application will be made to the London Stock Exchange plc for 47,619,048 new Ordinary Shares to be admitted to trading on the AIM market ("Admission") with Admission expected to occur on or around 2 June 2020. The new Ordinary Shares will rank pari passu in all respects with the existing Ordinary Shares including the right to receive any dividend or other distribution thereafter declared, made or paid.  There are no Ordinary Shares held in treasury. Following Admission, the total number of voting rights in the Company will be 968,060,149.

Robin Young, CEO of Amur Minerals Corporation, commented :

"The fundraise strengthens the Company's financial position as we continue our work on the TEO workstreams, and the follow on DFS.  We will update the market with the progress of these various workstreams in due course."

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

Company Amur Minerals Corp.	Nomad and Broker S.P. Angel Corporate Finance LLP	Public Relations Blytheweigh
Robin Young CEO	Richard Morrison Soltan Tagiev	Megan Ray Tim Blythe
[phone]	[phone]	[phone]

For additional information on the Company, visit the Company's website, www.amurminerals.com .

 

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