THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA, THE REPUBLIC OF IRELAND OR JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A BREACH OF THE RELEVANT SECURITIES LAWS OF SUCH JURISDICTION.
This announcement does not constitute a prospectus or offering memorandum or an offer in respect of any securities and is not intended to provide the basis for any decision in respect of EMED Mining Public Limited or other evaluation of any securities of EMED Mining Public Limited or any other entity and should not be considered as a recommendation that any investor should subscribe for or purchase any such securities.
Further to the announcement of 28 May 2015 in which the Company announced a Capital Raising of up to £64.9 million by way of a Subscription, Placing and Open Offer, EMED is now pleased to announce the successful completion of the oversubscribed Bookbuild of the Placing element of the Capital Raising, conditionally raising £6.8 million. This is in addition to the £54.7 million already conditionally raised under the Subscription.
Following completion of the Bookbuild, a total of 143,684,210 Placing Shares have been conditionally placed by Canaccord Genuity and Brandon Hill at a price of 4.75 pence per share with institutional investors to raise gross proceeds of £6.8 million (approximately US$10.5 million). The completion of the Placing, is conditional upon inter alia the approval of shareholders at the EGM of the Company to be held on 23 June 2015 and Admission of the Placing Shares to trading on AIM which is expected on 24 June 2015.
The Open Offer remains open to Qualifying Shareholders and they are directed to the Circular sent to Shareholders on 29 May 2015, and available on the Company’s website www.emed-mining.com, for further details.
As previously announced, the Company has secured sources of short term financing and these are now deemed sufficient to meet its working capital needs up until completion of the Capital Raising and the proceeds of the Capital Raising will fully fund the Company to progress the Rio Tinto Copper Project through to 7.5 Mtpa of production as part of an expansion of Phase 1 of the project.
Alberto Lavandeira, CEO of the Company, commented: “We are delighted with the support shown from existing and new investors enabling us to complete the oversubscribed Placing, which constitutes part of
the Capital Raising. We continue to move closer to commissioning and look forward to commencing production in the coming months.”
Capitalised terms in this Announcement, unless otherwise defined, have the same meaning given to them in the announcement issued by the Company on 28 May 2015.
|EMED||Roger Davey/Alberto Lavandeira||+34 959 59 28 50|
|Canaccord Genuity Limited (Corporate Broking)||Henry Fitzgerald-O’Connor||+44 207 523 8000|
|Canaccord Genuity Limited (ECM)||Kit Stephenson||+44 207 523 8000|
|Brandon Hill Capital||Oliver Stansfield||+44 203 463 5061|
|Walbrook PR||Nick Rome||+44 207 933 8783|
The £/ US$ exchange rate used is £1 / US$1.5493
No representation or warranty, express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by either of the Bookrunners or by any of their respective affiliates or agents or brokers, as to or in relation to, the accuracy or completeness of this announcement or any other written or oral information made available to or publicly available to any interested party or its advisers, and any liability therefore is expressly disclaimed.
Canaccord Genuity is acting for the Company and for no-one else in connection with the Bookbuild and the Placing, and will not be responsible to anyone other than the Company for providing the protections afforded to customers of Canaccord Genuity nor for providing advice to any other person in relation to the Placing or any other matter referred to herein. Canaccord Genuity is authorised and regulated in the United Kingdom by the Financial Conduct Authority (“FCA”).
Brandon Hill is acting for the Company and for no-one else in connection with the Bookbuild and the Placing, and will not be responsible to anyone other than the Company for providing the protections afforded to customers of Brandon Hill nor for providing advice to any other person in relation to the Placing or any other matter referred to herein. Brandon Hill is authorised and regulated in the United Kingdom by the FCA.
The distribution of this announcement and the Placing in certain jurisdictions may be restricted by law. No action has been taken by the Company, Canaccord Genuity or Brandon Hill that would permit the Placing or possession or distribution of this announcement or any other offering or publicity material relating to the Placing in any jurisdiction where action for that purpose is required. Persons into whose possession this announcement becomes available are required by the Company, Canaccord Genuity and Brandon Hill to inform themselves about, and to observe, such restrictions.
The information in this announcement shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, the securities referred to herein in any jurisdiction in which such offer,
solicitation or sale would require preparation of a prospectus or other offer documentation, or be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.
This announcement does not contain an offer or constitute any part of an offer to the public within the meaning of Sections 85 and 102B of the Financial Services and Markets Act 2000, as amended (“FSMA”) or otherwise. This announcement is not an “approved prospectus” within the meaning of Section 85(7) of FSMA and a copy of it has not been, and will not be, delivered to the FCA in accordance with the Prospectus Rules or delivered to any other authority which could be a competent authority for the purpose of the Prospectus Directive. Its contents have not been examined or approved by the London Stock Exchange plc, nor has it been approved by an “authorised person” for the purposes of Section 21 of FSMA.
The Placing Shares to be issued pursuant to the Placing will not be admitted to trading on any stock exchange other than AIM and the TSX. Neither the content of the Company’s website nor any website accessible by hyperlinks on the Company’s website is incorporated in, or forms part of, this announcement.
The Placing Shares have not been and will not be qualified for sale to the public under applicable securities laws in Canada and, accordingly, any offer and sale of the Placing Shares in Canada will be made on a basis which is exempt from the prospectus requirements of such securities laws. The Placing Shares issued to Canadian residents pursuant to the Placing will be subject to resale restrictions under Canadian securities laws for a period of four months plus one day from the date of the closing of the Placing. Subject to applicable securities laws, the Placing Shares issued to residents of countries other than Canada pursuant to the Placing may not be sold, transferred or otherwise disposed of on the TSX or, except pursuant to an exemption from the prospectus requirements under Canadian securities laws, to any person in Canada or otherwise into Canada for a period of four months plus one day from the date of the closing of the Placing.