Grant of Warrants

RNS Number : 4356W

Sula Iron & Gold PLC

27 April 2016

 

27 April 2016

Sula Iron & Gold PLC

("Sula" or the "Company") 

Grant of Warrants 

Sula (AIM: Sula), a multi-commodity exploration company focused on Sierra Leone, announces that yesterday it entered into an agreement with Mr Howard Baker, a Non-Executive Director of the Company, granting Mr Baker warrants to subscribe for 15,000,000 ordinary shares of 0.1 pence each in the capital of Company ("Ordinary Shares") at an exercise price of 0.45 pence per Ordinary Share (the "Warrants"). The Warrants may be exercised immediately and will be valid for a period of 5 years from the date of grant.

Following the issue of the Warrants, Mr Baker is interested in warrants to subscribe for, in aggregate, 17,833,333 Ordinary Shares in the Company. In addition, Mr Baker is interested in 6,791,666 Ordinary Shares, representing approximately 0.75 per cent. of the Company's issued ordinary share capital.

 **ENDS**

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

Sula Iron & Gold plc Nick Warrell / Matt Wood [phone] Strand Hanson Limited (Financial and Nominated Adviser) James Harris / Matthew Chandler / James Dance [phone] VSA Capital Limited (Broker) Andrew Raca [phone] Yellow Jersey PR (Financial PR) Dominic Barretto / Harriet Jackson [phone]

Notes:

Sula Iron & Gold plc is a multi-commodity exploration company focused in West Africa. The Company's main objective is to explore and advance its 153 sq. km. Ferensola Project in Northern Sierra Leone, which is highly prospective for coltan, gold and iron ore. In December 2014, the Company achieved a corporate milestone in delivering its JORC MRE for the BIF 1 iron ore project in which a total resource of 514.5Mt @ 31.8% Fe was identified and total oxide resource of 55.5Mt @ 45.26% Fe.

 

END

 

 

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