The board of IMC is pleased to announce that it has raised GBP 250,000 before expenses by way of a placing of 35,714,285 new ordinary shares of EUR0.001 each in the Company (“Ordinary Shares”) at a price of 0.7p per share (the “Placing Shares”) (the “Placing”). 7,142,857 warrants have been issued to subscribe for an additional 7,142,857 Ordinary Shares at a price of 1p per share, excercisable for three years from today. The total number of shares in issue following the Placing is 240,014,285.
The net proceeds of the Placing will be used to continue with IMC’s three main projects: IMC’s feasibility study on PL 3850 on its spoils and tailings project in Avoca, Co. Wicklow, IMC’s north Wexford gold project and IMC’s zinc project in Tulla, Co. Clare.
IMC further confirms that the directors’ shareholdings and their percentages of voting rights in the issued share capital of IMC, as it has been enlarged by the Placing described above, are as follows:
|DIRECTOR||NUMBER OF ORDINARY SHARES||PERCENTAGE OF ISSUED SHARE CAPITAL|
|Dr. Glenn Millar||3,600,001||1.50|
Dublin, 14th June 2018
The Directors of the issuer accept responsibility for this announcement.
IMC Exploration Group Plc
Mr. Eamon O’Brien
Telephone (Ireland): +353 87 6183024
Keith, Bayley, Rogers & Co. Limited
Mr. Brinsley Holman
Telephone: +44 20 7464 4098
Mr. Graham Atthill-Beck
Telephone: +44 20 7464 4091/+44 750 643 4107