The board of IMC Exploration Group plc (IMCP) is pleased to announce that it has raised GBP75,000 by way of a placing of 7,500,000 new ordinary shares of EUR0.001 each in the Company at a price of 1p per share. For each Placing Share subscribed for, the investors are also receiving one warrant to subscribe for an additional Ordinary Share at a price of 2p per share, excercisable for one year from today. The total number of shares in issue following the Placing is 143,516,719.
The net proceeds of the Placing will be used to continue our feasibility study on PL 3850 in Avoca, Co. Wicklow. An Irish government commissioned report indicates the spoils from previous extractive activity contain significant concentrations of copper (56-11,344 milligrams per kilogram [mg/kg]), zinc (44-7,404 mg/kg), lead (112-41,353 mg/kg), and arsenic (18-3,903 mg/kg).
The Directors of IMC, after due and careful enquiry, accept responsibility for the contents of this announcement.
IMC Exploration Group Plc
Mr. Liam McGrattan
Tel. Ireland: +353 87 2745427
Keith Bayley Rogers & Co. Limited
Mr. Brinsley Holman
Tel. +44 207 464 4098