Cadence Minerals PLC Exercise of Warrants and Conversion of Loan Note (3156F)
November 13 2020 - 8:10AM
UK Regulatory
TIDMKDNC
RNS Number : 3156F
Cadence Minerals PLC
13 November 2020
Cadence Minerals Plc
("Cadence Minerals", "Cadence" or "the Company")
Exercise of Warrants and Conversion of Loan Note
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY), announce that, it
has received warrant exercise notices to subscribe for 361,111 new
ordinary shares in the Company at an exercise price of 9 pence per
share and 527,309 new ordinary shares in the Company at an exercise
price of 11 pence per share (the "Warrant Shares") Subscription
monies of GBP90,504 have been received by the Company in respect of
the exercise of these warrants.
In addition and in relation to the to the US$ 3.9 million
restructured loan note which was in part used to fund Cadence's
US$2.5 million escrow for the Amapá Project and was announced on
the 15 June 2019 and 1 August 2019, Cadence has received a
conversion notice to convert US$0.37 million into 2,341,625 new
ordinary shares ("Conversion Shares") in the Company at a fixed
conversion price of 12 pence per share. After this conversion, the
loan note has an outstanding balance of approximately US$ 1.03
million.
Application will be made for the admission to trading on AIM of
London Stock Exchange plc and to and the AQSE Growth Market
operated by Aquis Exchange Plc for the Warrant Shares and
Conversion Shares ("Admission").
Admission is expected to occur on or around 19 November 2020.
Upon Admission, the Company will have 147,949,098 Ordinary Shares
in issue. There are no shares held in treasury. The total voting
rights in the Company is therefore 147,949,098 and Shareholders may
use this figure as the denominator by which they are required to
notify their interest in, or change to their interest in, the
Company under the Disclosure Guidance and Transparency Rules.
- Ends -
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
For further information:
Cadence Minerals plc +44 (0) 7879 584153
Andrew Suckling
Kiran Morzaria
WH Ireland Limited (NOMAD
& Broker) +44 (0) 207 220 1666
James Joyce
James Sinclair-Ford
Novum Securities Limited
(Joint Broker) +44 (0) 207 399 9400
Jon Belliss
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