Rambler Metals & Mining PLC Announces Posting of Open Offer Circular
NEWFOUNDLAND and LABRADOR, March 28, 2019 - Rambler is pleased to announce that it has today posted a circular (theCircular) to Qualifying Shareholders regarding an Open Offer for maximum net proceeds of approximately £1.7 million. The Circular is also available on the Company's website at http://www.ramblermines.com/. All capitalised terms in this announcement have the same meanings as those given to them in the Circular, unless the context otherwise requires.
The Open Offer is being made to Qualifying Shareholders on the register as at the Record Date of 25 March 2019, for up to 121,582,721 Open Offer Shares at an Issue Price of 1.4p per Open Offer Share (being the same price as the subscription price for the Subscription completed on 1 March 2019) on the basis of:
1 Open Offer Share for every ExistingOrdinary Share
The Issue Price represents a discount of approximately 13.9 per cent to the closing price per Ordinary Share as at 25 March 2019, the last practicable date prior to the date of the Circular, and a discount of 15.0 per cent to the seven day VWAP prior to such date.
Full details of the Open Offer, including terms and conditions and details of how to accept the Open Offer are set out in the Circular posted to Qualifying Shareholders today and available on the Company's website.
EXPECTED TIMETABLE OF PRINCIPAL EVENTS
| 2019 | |
| Record Date for entitlement under the Open Offer | Close of business on 25 March |
| Posting of the Circular and, to Qualifying non‑CREST Shareholders only, the Application Form | 28 March |
| Ex‑entitlement date and time | 8.00 am on 28 March |
| Open Offer Entitlements credited to stock accounts in CREST of Qualifying CREST Shareholders | As soon as practicable on 29 March |
| Latest recommended time and date for requesting withdrawal of Open Offer Entitlements from CREST | 4.30 pm on 8 April |
| Latest time for depositing Open Offer Entitlements into CREST | 3.00 pm on 9 April |
| Latest time and date for splitting Application Forms (to satisfy bona fide market claims) | 3.00 pm on 10 April |
| Latest time and date for receipt of completed Application Forms and payment in full under the Open Offer or settlement of relevant CREST instruction (as appropriate) | 11.00 am on 12 April |
| Expected date of announcement of results of the Open Offer | 15 April |
| Admission effective and dealings in the Open Offer Shares expected to commence on AIM | 8.00 am on 16 April |
| Expected date for crediting of Open Offer Shares in uncertificated form to CREST stock accounts | 16 April |
| Expected date of despatch of share certificates in respect of Open Offer Shares in certificated form | 23 April |
Notes:
Each of the dates in the above timetable is subject to change at the absolute discretion of the Company. If any of the details should change, where appropriate, the revised times and/or dates will be notified to Shareholders by means of an announcement through a Regulatory Information Service. All references to time are to time in London, UK.
ABOUT RAMBLER METALS AND MINING
Rambler is a mining and development company that in November 2012 brought its first mine into commercial production. Rambler has a 100 per cent ownership in the Ming Copper-Gold Mine, a fully operational base and precious metals processing facility and year round bulk storage and shipping facility; all located on the Baie Verte peninsula, Newfoundland and Labrador, Canada.
Following the completion of its recent productivity improvement initiative Rambler's focus is on sustaining mine and mill production at 1,250 metric tonnes per day. With a return to profitability and positive cash flow, Rambler will continue advancing Phase III engineering studies with a view to further increase production to 2,000 mtpd at the Ming Mine.
Along with the Ming Mine, Rambler also owns 100 per cent of the former producing Little Deer/ Whales Back copper mines and has strategic investment in the former producing Hammerdown gold mine.
Rambler is currently listedin London under AIM:RMM.
Forfurther information, please contact:
| Sanjay Swarup, ACA, MBA | Peter Mercer. P. Geo |
| Nominated Adviser (NOMAD) | |
| David Porter |
Website: www.ramblermines.com
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SOURCE: Rambler Metals & Mining Plc
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