Investment in Rambler Metals & Mining PLC

RNS Number : 5854A

Primorus Investments PLC

03 February 2022

 

Primorus   Investments   plc

("Primorus"   or   the   "Company")

Investment in Rambler Metals & Mining PLC

Primorus Investments plc (AIM: PRIM) is pleased to announce that it has invested £276,609 in Rambler Metals & Mining PLC ("RMM"). RMM is an AIM listed copper and gold producer, explorer and developer.

As part of a fundraising of £3,833,643.70 in total before expenses announced today, Primorus has agreed to subscribe for 1,043,810 ordinary shares at £0.265 each in RMM which equates to a total amount invested of £276,609.65.

In the year ended 31 December 2020, RMM had turnover of US$24.3m and made a loss of US$1.8m.  Primorus looks forward to RMM successfully deploying the capital raised to support the production targets it has set for its business.

This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors are responsible for the release of this announcement.

Forward Looking Statements

This announcement contains forward-looking statements relating to expected or anticipated future events and anticipated results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, competition for qualified staff, the regulatory process and actions, technical issues, new legislation, uncertainties resulting from potential delays or changes in plans, uncertainties resulting from working in a new political jurisdiction, uncertainties regarding the results of exploration, uncertainties regarding the timing and granting of prospecting rights, uncertainties regarding the Company's ability to execute and implement future plans, and the occurrence of unexpected events.  Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors.

For further information please contact:

PrimorusInvestmentsplc Matthew Beardmore, Chief ExecutiveOfficer	[phone]
NominatedAdviser CairnFinancialAdvisersLLP SandyJamieson/James Caithie	[phone]

 

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