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DJ Equatorial Mining & Exploration PLC Issue of Equity

TIDMEM.P

RNS Number : 8105H

Equatorial Mining & Exploration PLC

02 August 2019

GB00B63R0322

2 August 2019

Equatorial Mining and Exploration Plc

("EME" or the "Company")

Completed Placing and Issue of warrants

EME is pleased to announce that it has issued 4,000,000,000 new ordinary shares of 0.01p each in the Company ("Ordinary Shares") at a price of 0.01p per share (the "Placing").

The 4,000,000,000 new Ordinary Shares will be admitted to trading on NEX Exchange Growth Market under the ticker symbol EM.P today, 2 August 2019.

The net proceeds of the Placing will be used to fund the acquisition announced on 3 June 2019 and for working capital purposes.

Following the Placing, the issued share capital of the Company will increase to 15,259,849,507. This figure may be used by shareholders 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 under the Disclosure and Transparency Rules.

Issue of warrants

The Company has issued 13,040,000,000 conditional warrants at an exercise price of 0.015p, to subscribe for 13,040,000,000 Ordinary Shares of 0.01p par value (the "Fundraising Warrants"). As noted in the circular issued by the Company on 8 July 2019 (the "Circular"), the Fundraising Warrants were issued pursuant to the Fundraising (as such term is defined in the Circular).

In addition to the Fundraising Warrants, the Company has also issued 1,300,000,000 new warrants to Michael Staten (the "MS Warrants") in exchange for the cancellation of his existing warrants in respect of Ordinary Shares, as further detailed in the Circular.

Neither this announcement nor the information contained herein constitutes an offer or solicitation by Equatorial Mining and Exploration Plc for the purchase or sale of any securities nor does it constitute a solicitation to any person in any jurisdiction where solicitation would be unlawful.

The directors of Equatorial Mining and Exploration Plc accept responsibility for this announcement.

   Equatorial Mining & Exploration Plc:                                    charles.bray@eme-plc.com 

Charles Bray, Executive Chairman

NEX EXCHANGE CORPORATE ADVISER:

Alexander David Securities Limited

David Scott -Corporate Finance

James Dewhurst - Corporate Broking

Telephone: +44 (0) 20 7448 9820

http://www.ad-securities.com

49 Queen Victoria Street, London EC4N 4SA

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(END) Dow Jones Newswires

August 02, 2019 12:09 ET (16:09 GMT)