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DJ Equatorial Mining & Exploration PLC Placing and Issue of warrants

TIDMEM.P

RNS Number : 8558L

Equatorial Mining & Exploration PLC

10 September 2019

Placing GB00B63R0322

10 September 2019

Equatorial Mining and Exploration Plc

("EME" or the "Company")

Placing and Issue of warrants

EME is pleased to announce the following developments to raise additional capital to further fund the acquisition announced on 1 July 2019 and for general corporate use of the Company:

-- The Company has raised gross equity capital of approximately GBP500,000 (before expenses) via a placing of 5,000,000,000 new ordinary shares of 0.01p each in the Company, at a placing price of 0.01p (the "Placing Price") per new ordinary shares (the " Placing") . The gross equity capital issue of GBP500,000 include approximately GBP405,000 cash and approximately GBP95,000 to creditors of the Company which reduces our debtors.

-- Following the announcement by the Company made on 3 June 2019, in connection with the convertible debt of GBP82,500 due to Michael Staten, a director of the Company, has converted the whole of, the principal amount outstanding into 825,000,000 new Ordinary Shares of 0.01p each in the Company at the conversion rate of 0.01p per new ordinary shares. These shares have been allotted and will be admitted to trading on the NEX Exchange on or around 10 September 2019.

The 5,825,000,000 new Ordinary Shares will be admitted to trading on NEX Exchange Growth Market under the ticker symbol EM.P on the 10(th) of September.

Following the Placing, the issued share capital will increase to 30,124,849,507. 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

As part of the Placing the Company has issued an aggregate of 4,050,000,000 conditional warrants at an exercise price of 0.015p, to subscribe for 4,050,000,000 Ordinary Shares of 0.01p par value.

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

September 10, 2019 08:54 ET (12:54 GMT)