Issue of Equity

RNS Number : 3246E

Eurasia Mining PLC

06 February 2015

 

Eurasia Mining plc

("Eurasia" or the "Company")

Issue of Equity

Eurasia Mining (AIM:EUA) is pleased to announce that the company has issued 3,500,000 new ordinary shares of 0.1p at a price of 0.65p per share, to settle fees in respect of corporate strategy and communications advisory services to the Company for a total cost of £22,750.  The share-based payment was at the request of the advisor and was undertaken at a premium to the current mid-price at the time the settlement was agreed.

Commenting on the transaction Managing Director Christian Schaffalitzky said "Whilst we are cautious with regard to further dilution at current share price levels, we were happy to settle the stated fees in Company stock, at a premium to mid-price and further preserving company cash reserves.  We believe the request for stock rather than cash, at a premium, to be a vote of confidence in the potential of Eurasia Mining and look forward to announcing progress across all our interests, and potentially new opportunities in 2015."

Application will be made for the new shares, which rank pari passu with all existing shares, to be admitted to trading on AIM ("Admission").  Admission is expected to take place on or around 12^th February 2015.  Following the issue of the new shares the total number of issued ordinary shares in the Company will then be 1,133,210,784 ordinary shares and consequently the total number of voting rights in the Company will be 1,133,210,784.  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.

For more information please contact:

Eurasia Mining:

Christian Schaffalitzky / Michael de Villiers

Tel: [phone]

Katy Mitchell, WH Ireland Limited

Tel: [phone]

 

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