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DJ All Star Minerals Plc Issue of Equity and Proposed Board Changes

                         ("All Star" or the Company) 
                  Issue of equity and proposed board changes 
The Company announces that it has issued 400,000,000 new ordinary shares of 
0.01p nominal value at a price of 0.02p ("Issue Price") per share raising gross 
proceeds of GBP80,000 ("Fundraise"). The shares have been issued under existing 
shareholder authorities. 
The subscribers will receive one warrant for every two shares subscribed 
exercisable at a price of 0.04p per share subject to the relevant shareholder 
authorities being provided. The warrants expire on 31 December 2022. 
Furthermore, the Company is seeking to raise up to an additional GBP170,000 on 
the same terms through the issue of 850,000,000 new ordinary shares ("Proposed 
Fundraise"). At the date of this announcement, GBP110,000 of the above GBP170,000 
has been received in binding commitments and the Company is aiming to close the 
Proposed Fundraise by 29 May 2020. The Company reserves the right to accept 
oversubscriptions in relation to the Proposed Fundraise. 
The net proceeds of the Fundraise and Proposed Fundraise will be used for 
working capital purposes and potential project evaluation. 
Any additional issue of shares and issue of warrants is conditional on 
shareholders approving resolutions for authorities to issue new shares for cash 
on a non-pre-emptive basis. The Company will shortly convene a General Meeting 
seeking the relevant shareholder authorities. 
Proposed board changes 
The Company intends to appoint Ian Harebottle and Richard Lloyd as directors 
subject to the completion of normal regulatory due diligence. 
James Featherstone will be stepping down from his role as Non-executive 
Director of the Company in the event of the appointment of Ian Harebottle and 
Richard Lloyd. 
Ian Harebottle has a proven track record of success in the mining industry and 
gemstone sector in particular.  Ian is the former CEO of AIM-listed Gemfields 
PLC, the world's largest coloured gemstone mining and marketing company, and 
former COO and CEO of JSE and AIM listed TanzaniteOne. 
During his combined 15 years managing the underlying activities of these 
companies, TanzaniteOne's share price increase from 40 pence/share to more than 
200 pence /share and was recognised as the largest dividend payer on AIM at the 
time.  At Gemfields PLC, upon his appointment in February 2009, he immediately 
implemented an aggressive turnaround strategy which saw Gemfields share price 
increase more than twenty-fold and its market capitalisation grow from approx. 
US$ 9 million to in excess of US$ 400 million.  Ian was instrumental in 
developing and driving the corporate strategy, as well as the identification 
and acquisition of a number of key assets, including the now famous Montepuez 
Ruby Mine, the single largest ruby producing mine in the world. 
Mr Richard Lloyd is a fellow of the Institute of Materials, Minerals and Mining 
("FIMMM") and the Geological Society ("FGS"). Richard has over 25 years' 
natural resources investment banking and mining geology experience.  His 
geological experience has included diamond exploration as a field geologist and 
research studies into Kimberlites.  Richard was previously a Director in the 
Resources, Energy Infrastructure team at ANZ Bank London, having joined from 
Commerzbank AG. He has also held positions at Standard Bank London & Dresdner 
Richard has had experience on a number of London and Australian listed junior 
mining boards. 
Ian Harebottle commented, "I am excited to be joining the board of All Star at 
this time. 
"My background in the sector as former CEO of Gemfields PLC alongside the 
board's joint experience and history makes All Star a fairly unique proposition 
as we can utilise our relationships and sector specific knowledge to great 
Tomas Nugent, Executive Chairman commented, "I am delighted that two high 
calibre experienced industry professionals are joining the All Star Board and 
welcome them both. Ian's knowledge and experience in particular, could be 
transformational for the Company and add significant value for shareholders 
long term. I look forward to working with them to build out the Company in the 
The Directors of All Star are responsible for the contents of this 
All Star Minerals Plc 
Tomas Nugent, Chairman 
AQSE Corporate Adviser 
Cairn Financial Advisers LLP 
Liam Murray 
020 7213 0880 

(END) Dow Jones Newswires

May 22, 2020 03:00 ET (07:00 GMT)