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Allotment of Ordinary Shares following Exercise of Conversion Rights
Mariana Resources Ltd, the AIM quoted exploration and development company focused in South America, has announced that it has received notice of exercise in respect of the convertible security previously issued on 16 September 2014 at a conversion price of 1.6 pence being 92.5% of the relevant VWAP, the details of which were announced to the market on 17 September 2014 pursuant to which 12,854,125 ordinary shares will be issued.
Application has therefore been made for the Relevant Shares to be admitted to trading on AIM with admission expected to take place on 30 October 2014. The Relevant Shares will rank pari passu in all respects with all existing ordinary shares in the Company.
Following admission of the Relevant Shares, the Company’s enlarged issued share capital will comprise 456,005,151 ordinary shares with voting rights. The total enlarged issued ordinary shares 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 in their interest in, the share capital of the Company under the Disclosure Rules and Transparency Rules of the United Kingdom Listing Authority.
Mariana Resources Ltd is an AIM quoted exploration and development company with an extensive portfolio of gold, silver and copper projects in South America. In Peru, Mariana has an option to earn a 51% interest in highly prospective copper-gold and copper silver porphyry targets in the Cordillera del Condor of northern Peru as well as an option to earn a 70% interest in the Soledad copper-gold and silver project and the Rurimarac Au-Ag project in Central Peru.
In southern Argentina, the Company’s core gold-silver projects are Las Calandrias (100%), Sierra Blanca (100%), Los Cisnes (100%), Bozal (100%). These projects are part of a 200,000+ Ha land package in the Deseado Massif epithermal gold-silver district in mining-friendly Santa Cruz Province. In Suriname Mariana is currently earning into the Nassau Gold project for an effective 40% interest.
