Exercise of Warrants and Issue of Equity

RNS Number : 5825Q

Ironveld PLC

01 March 2021

 

Ironveld Plc

("Ironveld" or the "Company")

Exercise of Warrants and Issue of Equity

Ironveld announces the exercise of warrants for 17,500,000 ordinary shares with par value of 0.1p at a price of 0.3p per share in the share capital of the Company ("New Shares") for an aggregate consideration of £52,500.

The New Shares will rank pari passu with the existing shares and application has been made for the New Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and dealings in the New Shares will commence at 8:00am on 4 March 2021.

Following Admission, Ironveld's Issued and Outstanding share capital will consist of 1,316,440,372 shares. The Company does not hold any shares in treasury. Shareholders may use this figure as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company.

Following this exercise the Company has 65,833,333 0.3p warrants in issue.

For further information, please contact:

Ironveld plc Martin Eales, Chief Executive Officer		c/o Blytheweigh [phone]
finnCap (Nomad and Broker) Christopher Raggett / Charlie Beeson		[phone]
Turner Pope (Joint Broker) Andrew Thacker / Zoe Alexander		[phone]
Blytheweigh Tim Blythe / Megan Ray		[phone]

NOTES TO EDITORS

Ironveld (IRON.LN) is the owner of Mining Rights over approximately 28 kilometres of outcropping Bushveld magnetite with a SAMREC compliant ore resource of some 56 million tons of ore grading 1,12% V2O5, 68,6% Fe2O3 and 14,7% TiO2.

The Definitive Feasibility Study published in April 2014 confirms the project's viability to deliver a Vanadium slag product for which the company has an offtake agreement as well a High Purity Iron product which commands a premium in the market place and Titanium slag containing commercial grades of titanium.

Ironveld is an AIM traded company. For further information on Ironveld please refer to www.ironveld.com.

 

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