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DJ Equatorial Mining & Exploration PLC Further re fund raising


RNS Number : 6108H

Equatorial Mining & Exploration PLC

13 March 2018

13 March 2018

Equatorial Mining & Exploration Plc ("EME" or the "Company")

Update Regarding Fund Raise

Further to the announcement of 27(th) February, the Company announces that it has raised GBP40,000 through the issue of 5% Unsecured Irredeemable Convertible Loan Notes 2018. The Conversion price is 0.41p per ordinary share. The Company also anticipates that further funds will be received during this month through the exercise of the 0.01p Warrants in issue to bring the total amount raised to the minimum GBP50,000 which the Company requires.

Nicholas Nelson, Chairman, commented:

"We are pleased that certain long standing shareholders and a new investor have agreed to invest and it is noteworthy that the investment has been made at the prevailing NEX quoted share price.

"This small injection of working capital is vital for the continuation of our coal mining project in Nigeria and I am confident of returning to coal production by the end of March."


 Equatorial Mining & Exploration 
  Nicholas Nelson, Executive 
---------------------------------  ----------------------- 
 NEX Exchange Adviser 
  and Broker 
  Alexander David Securities 
  James Dewhurst                      +44 (0) 207 448 9820 
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The Directors take responsibility for this announcement.

This information is provided by RNS

The company news service from the London Stock Exchange



(END) Dow Jones Newswires

March 13, 2018 12:15 ET (16:15 GMT)