Completion of US$15m financing for Rosgeo JV

RNS Number : 9730M
Eurasia Mining PLC
24 September 2021
 

NOT FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, TO U.S. NEWSWIRE SERVICES OR IN THE UNITED STATES OR IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.

 

EURASIA MINING PLC

("Eurasia" or "the Company")

Completion of US$15m financing for Rosgeo JV

24 September 2021

Eurasia Mining Plc ("Eurasia" or the "Company"), the palladium, platinum, rhodium, iridium and gold producing company, is pleased to announce that the financing released via RNS on 20 September 2021 was successfully completed on the previously announced terms.

Summary Highlights:

· H.C. Wainwright & Co. acted as the exclusive placement agent in the United States for this financing

 

· The Directors have reduced the financing size to approximately $15m from the higher amount offered to Eurasia

 

· The cash balance of Eurasia now is about $35m with no debt

 

· The financial position of the Company is sufficient to accomplish its commitments in relation to Rosgeo JV, where a JORC resource by Wardell Armstrong is to be announced shortly

 

Comments

Christian Schaffalitzky, Executive Chairman commented: "The Directors are pleased that more institutional investors have joined our shareholder base, as we reach another important milestone. We look forward to providing further updates".

 

 

ENQUIRIES:

Eurasia Mining Plc

Christian Schaffalitzky/ Keith Byrne

+44 (0)207 932 0418

 

SP Angel Corporate Finance LLP (Nomad and Joint Broker)

Ewan Leggat / David Hignell / Adam Cowl

+44 (0)20 3470 0470

 

Optiva Securities (Joint Broker)

Christian Dennis

Tel: +44 (0) 20 3137 1902

 

About Eurasia Mining Plc

 

Eurasia Mining plc is a palladium, platinum, rhodium, iridium and gold producing company, operating the established West Kytlim Mine in the Urals, and also the operator of the Monchetundra Project comprising two predominantly palladium open pit deposits located 3km away from Severonickel, one of Norilsk Nickel's largest base metals and PGM processing facilities, near the town of Monchegorsk on the Kola Peninsula.

 

About H. C. Wainwright

H. C. Wainwright team has been the leader in the PIPE (private investment in public equity) and RD (registered direct offering) transaction markets. According to Sagient Research Systems, H. C. Wainwright team has been ranked the #1 Placement Agent in terms of the aggregate number of PIPE and RD transactions cumulatively since 1998.

 

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