Exercise of Warrants and Issue of Equity

RNS Number : 3697X

Sula Iron & Gold PLC

21 February 2017

 

21 February 2017

Sula Iron & Gold plc

("Sula" or the "Company")

Exercise of Warrants and Issue of Equity

Sula (AIM: SULA), the iron and gold exploration company focused on Sierra Leone, announces that it has allotted and issued 9,375,000 new ordinary shares of 0.1 penny each in the capital of the Company at a price of 0.16 pence per share (the "Warrant Shares") further to the exercise of certain warrants. The gross proceeds of exercise amounted, in aggregate, to £15,000.

The Company has made application for the Warrant Shares to be admitted to trading on AIM ("Admission").  It is expected that Admission will become effective and that dealings in the Warrant Shares will commence at 8.00 a.m. on 24 February 2017. The Warrant Shares will be fully paid and will rank pari passu in all respects with the Company's existing ordinary shares.

For the purposes of the Disclosure and Transparency Rules, following Admission of the Warrant Shares, the Company's total issued ordinary share capital will consist of 2,086,100,433 ordinary shares of 0.1 penny each. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Disclosure and Transparency Rules.

For further information, please visit www.sulaironandgold.com or contact the following:

Sula Iron & Gold plc Roger Murphy (CEO) [phone]  Strand Hanson Limited (Financial and Nominated Adviser) James Harris / Matthew Chandler / James Dance [phone] VSA Capital Limited (Broker) Andrew Raca [phone]

The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014.

**ENDS**

 

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