The board of IMC Exploration Group plc (IMC) is pleased to announce that it has raised £75,000 by way of a placing of 7,500,000 new ordinary shares of €0.001 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 136,016,719.
The net proceeds of the Placing will be used to commence our feasibility study on PL 3850 in Avoca, Co. Wicklow. This carries on from our extensive work on this licence area with Koza and more than justifies the undertaking of this feasibility study which will further advance our assets towards production.
The Directors of the issuer accept responsibility for 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
30th October 2017