Issue of Convertible Loan Notes and Warrants

RNS Number : 1991P

Equatorial Mining & Exploration PLC

16 February 2016

 

 16 February 2016

Equatorial Mining and Exploration Plc

("EME" or the "Company")

Issue of Convertible Loan Notes

and Warrants to Subscribe for Ordinary Shares

Equatorial Mining and Exploration Plc is pleased to announce that it has raised a total of £325,000 before expenses through the issue of an 8 per cent. Unsecured Irredeemable 0.1 pence Convertible Loan Notes (the" Convertible Loan") to a group of existing investors.

The Company has also issued to the same investors, 325,000,000 warrants to subscribe for new ordinary shares at 0.01 pence per share.  The Company now has a total of 1,465,000,000 warrants in issue.

The Convertible Loan Notes will be used immediately for working capital purposes and to advance EME's mining and exploration interests in Nigeria.

Enquiries:

Corporate Adviser Alexander David Securities Limited David Scott - Head of Corporate Finance

[phone] http://www.ad-securities.com

The Directors of the Company take responsibility for this announcement.

 

END

 

 

IODUNVKRNRAUARR