Avesoro Resources Inc. COMPLETION OF SHARE CONSOLIDATION (7578C)
January 24 2018 - 1:00AM
UK Regulatory
TIDMASO
RNS Number : 7578C
Avesoro Resources Inc.
24 January 2018
24 January 2018
Avesoro Resources Inc.
TSX: ASO
AIM: ASO
COMPLETION OF SHARE CONSOLIDATION
Avesoro Resources Inc. ("Avesoro" or the "Company"), the TSX and
AIM listed West African gold producer, is pleased to announce that
further to the announcement on January 16, 2018, the 100:1 share
consolidation has become effective and the Company's previously
issued share capital of 8,156,075,823 common shares of nil par
value ("Common Shares") has been reduced to 81,560,260 new common
shares of nil par value ("New Common Shares"). The Company has
applied for admission of the 81,560,260 New Common Shares to
trading on AIM and admission is expected to occur at 8:00am (GMT)
today. The New Common Shares will begin trading on the TSX at the
opening of trading at 9:30am (ET) today.
Total Voting Rights
Following the share consolidation, the Company has in issue
81,560,260 Common Shares with voting rights. Accordingly, the
figure of 81,560,260 may be used by shareholders 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 Company under the FCA's Disclosure and Transparency
Rules.
Block Listing Update
As disclosed in the Company's announcement of January 16, 2018,
the Company has made an application for the consolidated number of
common shares the subject of the block listing (544,665 common
shares) to trading on AIM at 8.00am GMT today. Therefore, upon
Admission, the Company shall have a total of 82,104,925 common
shares admitted to trading, comprising of 81,560,260 common shares
allotted and admitted to trading, and 544,665 common shares
admitted to trading pursuant to the block listing. The Company
shall release its next 6 monthly block listing update in April
2018, in line with the current announcement schedule.
Contact Information
Avesoro Resources Inc. Camarco
Geoff Eyre / Nick Smith Gordon Poole / Nick
Tel: +44(0) 20 7010 7690 Hennis
Tel: +44(0) 20 3757
4980
-------------------------- ---------------------
Numis Securities Limited
(Nominated Adviser and
Joint Broker)
John Prior / James Black
/ Paul Gillam
Tel: +44(0) 20 7260 1000
-------------------------- ---------------------
About Avesoro Resources Inc.
Avesoro Resources is a West Africa focused gold producer and
development company that operates three gold mines across West
Africa and is listed on the Toronto Stock Exchange ("TSX") and the
AIM market operated by the London Stock Exchange ("AIM"). The
Company's assets include the New Liberty Gold Mine in Liberia (the
"New Liberty Gold Mine" or "New Liberty") and the Youga and Balogo
Gold mines in Burkina Faso ("Youga" and "Balogo").
New Liberty has an estimated proven and probable mineral reserve
of 7.4Mt with 717,000 ounces of gold grading 3.03g/t and an
estimated measured and indicated mineral resource of 9.6Mt with
985,000 ounces of gold grading 3.2g/t and an estimated inferred
mineral resource of 6.4Mt with 620,000 ounces of gold grading
3.0g/t. The foregoing Mineral Reserve and Mineral Resource
estimates and additional information in connection therewith is set
out in an NI 43-101 compliant Technical Report dated November 1,
2017 and entitled "New Liberty Gold Mine, Bea Mountain Mining
Licence Southern Block, Liberia, West Africa" and is available on
SEDAR at www.sedar.com.
Youga and Balogo have a combined estimated proven and probable
mineral reserve of 9.3Mt with 513,000 ounces of gold grading 1.7g/t
and a combined estimated indicated mineral resource of 16.05Mt with
801,600 ounces of gold grading 1.55g/t and a combined inferred
mineral resource of 13Mt with 655,000 ounces of gold grading
1.57g/t. The foregoing Mineral Reserve and Mineral Resource
estimates and additional information in connection therewith is set
out in two NI 43-101 compliant Technical Reports, dated June 16,
2017 entitled "Mineral Resource and Mineral Reserve Update for the
Balogo Project" and dated June 19, 2017 and entitled "Mineral
Resource and Mineral Reserve Update for the Youga and Ouaré
Projects" and are available on SEDAR at www.sedar.com.
For more information, please visit www.avesoro.com
Qualified Persons
The Company's Qualified Person is Mark J. Pryor, who holds a BSc
(Hons) in Geology & Mineralogy from Aberdeen University, United
Kingdom and is a Fellow of the Geological Society of London, a
Fellow of the Society of Economic Geologists and a registered
Professional Natural Scientist (Pr.Sci.Nat) of the South African
Council for Natural Scientific Professions. Mark Pryor is an
independent technical consultant with over 25 years of global
experience in exploration, mining and mine development and is a
"Qualified Person" as defined in National Instrument 43 -101
"Standards of Disclosure for Mineral Projects" of the Canadian
Securities Administrators and has reviewed and approved the
scientific and technical disclosures contained in this
announcement.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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