Subscription

SUBSCRIPTION

 

The Company is pleased to announce proposals to raise £163,400 by way of the issue of 43,000,000 ordinary shares in the capital of the Company (“Ordinary Shares”) at a subscription price of 0.38p per Ordinary Share (the “Subscription Shares”) to a combination of existing strategic shareholders and a new strategic partner (the “Subscription”).  

The £163,400 gross proceeds of the Subscription will provide the Company with additional working capital as it meets its obligations in relation to the exploration programme for the Chadine Project in Serbia and as it assesses other potential projects in the Balkans. The Subscription Shares have been issued out of the existing authorities to issue and allot Ordinary Shares and accordingly the Subscription is not subject to shareholder approval.

Application has been made for the 43,000,000 Subscription Shares to be admitted to trading on AIM (“Admission”) and it is expected that Admission will occur and dealings will commence in the Subscription Shares on 11 May 2016. The Subscription Shares will rank pari passu with the existing Ordinary Shares in issue. Following Admission there will be 459,308,470 Ordinary Shares in issue. The Company does not hold any shares in treasury and therefore this figure may be used by shareholders in the Company 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 share capital of the Company.

 

For further information, please contact:

Aurasian Minerals Plc                                                                                                                         pjm@aurasianminerals.com 

Peter Mullens

finnCap Limited – Nominated adviser                                                                                                            +44 (0) 20 7220 0500

Christopher Raggett / Scott Mathieson