Rambler Metals & Mining Plc: Proposed Placing to Raise GBP 10 Million in Support of Bringing the Ming Copper-Gold Mine Into Production
25.03.2011 | Marketwire
LONDON, ENGLAND and BAIE VERTE, NEWFOUNDLAND and LABRADOR -- (Marketwire - March 25, 2011) - Rambler Metals and Mining PLC (TSX VENTURE: RAB) (AIM: RMM) ("Rambler" or the "Company") today announces that it intends to raise approximately £10 million, before expenses, through a placing of 27,777,778 Ordinary Shares at 36 pence each (approximately CDN$0.57 per share).The Company intends to use the net proceeds realized from the private placement to provide the working capital that it is forecast will be required as the Company completes the construction phase of its Ming Copper-Gold Mine Project and commences production in the second half of 2011 prior to reaching full production in the latter half of 2011.
Ocean Equities Limited and Seymour Pierce Limited have been retained as joint-brokers for the placing on a reasonable endeavours basis. The placing will be subject to the approval of shareholders at a general meeting of shareholders to be convened for May 3rd, 2011, the placing agreement entered into between the Company, Ocean Equities Limited and Seymour Pierce Limited having become unconditional, and the approval of the TSX Venture Exchange. A circular containing a notice of the general meeting will be despatched to shareholders in due course
Forward Looking Statement:
Some of the statements contained herein may be forward-looking statement, which involve known and unknown risks and uncertainties. Without limitation, statements regarding future plans and objectives of the Company are forward looking statements that involve various degrees of risk. It is important to note that the Company's actual results could differ materially from those in such forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Information
Rambler Metals and Mining Canada Limited
George Ogilvie, P.Eng.
President and CEO
709-532-4990
or
Rambler Metals & Mining Plc.
Corporate Office
+44 (0) 20 8652-2700
+44 (0) 20 8652-2719 (FAX)
www.ramblermines.com
or
Seymour Pierce Limited
Nandita Sahgal
+44 (0) 20-7107-8000
or
Seymour Pierce Limited
Jeremy Stephenson
+44 (0) 20-7107-8000
or
Pelham Bell Pottinger
Charles Vivian
+44 (0) 20 7861 3126
or
Pelham Bell Pottinger
Philippe Polman
+44 (0) 20 7861 3861
or
Ocean Equities Limited
Guy Wilkes
+44 (0) 20-7786-4370