Further re fund raising

RNS Number : 6108H

Equatorial Mining & Exploration PLC

13 March 2018

 

13 March 2018

Equatorial Mining & Exploration Plc ("EME" or the "Company")

Update Regarding Fund Raise

Further to the announcement of 27^th February, the Company announces that it has raised £40,000 through the issue of 5% Unsecured Irredeemable Convertible Loan Notes 2018.  The Conversion price is 0.41p per ordinary share.  The Company also anticipates that further funds will be received during this month through the exercise of the 0.01p Warrants in issue to bring the total amount raised to the minimum £50,000 which the Company requires.

Nicholas Nelson, Chairman, commented:

"We are pleased that certain long standing shareholders and a new investor have agreed to invest and it is noteworthy that the investment has been made at the prevailing NEX quoted share price.

"This small injection of working capital is vital for the continuation of our coal mining project in Nigeria and I am confident of returning to coal production by the end of March."

Enquiries:

Equatorial Mining & Exploration Plc: Nicholas Nelson, Executive Chairman	[e-mail]
NEX Exchange Adviser and Broker Alexander David Securities James Dewhurst	[phone]

The Directors take responsibility for this announcement.

 

END

 

 

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