Full Exercise of Warrants by Metal Tiger plc

RNS Number : 6415S

Eurasia Mining PLC

09 July 2015

 

Eurasia Mining plc (AIM: EUA)

("Eurasia" or the "Company")

Full Exercise of Warrants by Metal Tiger plc

Eurasia Mining plc, the Russia focused PGM exploration and development company, is pleased to announce it has received notice of exercise of warrants in the Company.  Metal Tiger plc, has exercised all its warrants over 30,000,000 new ordinary shares at a price of 1p per share which were awarded as outlined in our previous market announcement of 29 December 2014.

Accordingly the Company has today issued 30,000,000 Ordinary Shares (the "New Shares").  An application will be made for the New Shares to be admitted to trading on AIM and dealings in these shares are expected to commence on the 15 July 2015.

Following the issue of the new shares the total number of issued ordinary shares in the Company will then be 1,269,042,780 ordinary shares and consequently the total number of voting rights in the Company will be 1,269,042,780.  This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in the share capital of the Company under the Disclosure and Transparency Rules.

Christian Schaffalitzky Managing Director said: "After the hugely positive news yesterday confirming Prime Ministerial approval for our West Kytlim Mining Licence application we are delighted to have the continuing support from Metal Tiger plc with their investment of £300,000 to exercise their full outstanding warrants. 

Metal Tiger have now provided funding of £450,000 to the Company since December 2014, which is a considerable sum from a single investor and we are pleased to have their support for the work we are undertaking.

The additional £300,000 in respect of this warrant exercise will be largely invested in progressing production plans at West Kytlim and delivering on our objectives at Monchetundra where we have a further substantial PGM asset.  We look forward to updating the market with further progress on both projects in the near future as promised in our market announcement yesterday."

Enquiries:

Eurasia Mining Plc

Christian Schaffalitzky/Michael de Villiers

[phone]

WH Ireland Limited

Katy Mitchell/Liam Gribben

[phone]

Beaufort Securities

Elliot Hance

[phone]
 

Loeb Aron
John Beresford-Peirse
[phone]

 

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