Loan Facility, Issue of Equity & Broker Appointed

RNS Number : 2791B

Eurasia Mining PLC

19 September 2018

 

Eurasia Mining plc (AIM: EUA)

("Eurasia" or the "Company")

Settlement of loan facility, issue of equity and joint broker appointment

Eurasia Mining plc ("Eurasia" or "the Company"), the PGM and gold producer is pleased to announce the final settlement of its remaining loan facility through the issue of equity, the appointment of Optiva Securities Limited ("Optiva") as joint broker, and the placing of the resulting shares with clients of Optiva.

The Company received a conversion notice from YA II PN Ltd ('YA'), being the lender under the terms of a US$1.25m facility outlined in a previous market announcement dated, 14 December 2017, to convert the outstanding loan amount of USD $522,097.17, which is now due for repayment, into 117,917,182 new shares in the Company at a price of 0.34p per share (the "Conversion shares").

Accordingly, the Company has today issued 117,917,182 Ordinary Shares.  An application will be made for the Conversion shares to be admitted to trading on AIM and dealings in these shares are expected to commence on the 25th September 2018.

Following the issue of the Conversion shares the total number of issued ordinary shares in the Company will then be 2,344,680,569 ordinary shares and consequently the total number of voting rights in the Company will be 2,344,680,569. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in the share capital of the Company under the Disclosure and Transparency Rules.

Broker appointment and placing of shares

The Company was also notified that YA has agreed to place the Conversion shares through Optiva Securities Limited ("Optiva") to Optiva's clients. The Company also wishes to announce that Optiva has now been appointed as a joint broker to the Company.

Christian Schaffalitzky, Executive Chairman commented; "This transaction completes the agreement with and the Company's obligations to YA, who do not hold any further warrants or options. The Company is now debt free and having foregone repayment is in a stronger position financially.

Eurasia is pleased to start working with Optiva in realising the Company's long-term growth potential and business goals. Optiva's estimation of the Company's growth potential is well demonstrated with this transaction. We look forward to updating the market on our progress at the operational level, including ongoing production at our West Kytlim platinum and gold mine very shortly."

Enquiries:

Eurasia Mining Plc

Christian Schaffalitzky

[phone]

WH Ireland Limited (Nomad and Joint Broker)

Katy Mitchell / James Sinclair-Ford

Tel: [phone]

First Equity Limited (Joint Broker)

Jason Robertson

Tel: [phone]

Optiva Securities (Joint Broker)

Christian Dennis

Tel: [phone]

 

END

 

 

MSCFMGMLGLVGRZM