TIDMRMM
RNS Number : 3109R
Rambler Metals & Mining PLC
13 June 2018
13 June 2018
Rambler Closes Final Tranche of Private Placement
London, England - Newfoundland and Labrador, Canada - Rambler
Metals and Mining plc (TSXV: RAB, AIM: RMM) ('Rambler' or the
'Company') is pleased to announce that it has closed the final
tranche of the private placement ('Private Placement') previously
announced by way of news release on 22 May 2018 of an aggregate of
44,400,000 ordinary shares of GBP0.01 each in the Company ('Private
Placement Shares') with Lombard Odier Asset Management (USA) Corp,
acting in its capacity as discretionary asset manager for certain
funds managed by it ('LO Managed Funds'). Pursuant to the final
tranche of the Private Placement, the Company has issued 19,400,000
Private Placement Shares to LO Managed Funds at a price of GBP0.05
per Private Placement Share for an aggregate subscription price of
GBP970,000 and such Private Placement Shares have been admitted to
trading on the AIM of the London Stock Exchange plc and listed on
the TSX Venture Exchange.
The Company previously issued 25,000,000 Private Placement
Shares to LO Managed Funds on the closing of the first tranche of
the Private Placement as announced by way of a news release dated
25 May 2015.
The proceeds received from the Private Placement will be used by
the Company to strengthen its working capital position as it moves
towards its sustained production target of 1,250 metric tonnes per
day.
Immediately prior to the closing of the final tranche of the
Private Placement, LO Managed Funds owned and controlled 56,793,345
ordinary shares of GBP0.01 each in the Company ('Ordinary Shares')
(representing a 9.88% interest in the share capital of the
Company). Immediately following the closing of the final tranche of
the Private Placement, LO Managed Funds owned and controlled
76,193,345 Ordinary Shares (representing a 11.56% interest in the
share capital of the Company).
The Private Placement Shares are subject to hold periods imposed
in accordance with TSX Venture Exchange policies which expire four
months from the date of the closing of each tranche of the Private
Placement such that the hold period of the Private Placement Shares
issued on the closing of the first tranche of the Private Placement
expires on 26 September 2018 and the hold period of the Private
Placement Shares issued on the closing of the second tranche of the
Private Placement expires 14 October 2018.
Following the admission of the final tranche of Private
Placement Shares to trading on AIM, the Company's issued share
capital consists of 659,139,702 Ordinary Shares with voting rights.
The figure of 659,139,702 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 to their interest in, the Company under
the Financial Conduct Authority's Disclosure and Transparency
Rules.
This announcement has been posted on the Company's website at
www.ramblermines.com and will be posted under the Company's SEDAR
profile at www.sedar.com.
ABOUT RAMBLER METALS AND MINING
Rambler is a mining and development company that in November
2012 brought its first mine into commercial production. Rambler has
a 100 per cent ownership in the Ming Copper-Gold Mine, a fully
operational base and precious metals processing facility and year
round bulk storage and shipping facility; all located on the Baie
Verte peninsula, Newfoundland and Labrador, Canada.
Following the completion of its Phase II expansion Rambler's
focus is to sustain mine and mill production at 1,250 mtpd in 2018.
Upon sustaining its Phase II production target, Rambler will
continue advancing Phase III engineering studies with a view to
further increase production to 2,000 mtpd at the Ming Mine.
Along with the Ming Mine, Rambler also owns 100 per cent of the
former producing Little Deer/ Whales Back copper mines and has
strategic investment in the former producing Hammerdown gold
mine.
Rambler is dual listed in London under AIM:RMM and in Canada
under TSX-V:RAB.
For further information, please contact:
Norman Williams, Peter Mercer
CPA,CA Vice President, Corporate
President and CEO Secretary
Rambler Metals & Rambler Metals & Mining
Mining Plc Plc
Tel No: 709-800-1929 Tel No: +44 (0) 20
Fax No: 709-800-1921 8652-2700
Fax No: +44 (0) 20
8652-2719
Nominated Advisor Investor Relations
(NOMAD)
David Porter, Peter Nicole Marchand Investor
Malovany Relations
Cantor Fitzgerald Tel No: 416- 428-3533
Europe Nicole@nm-ir.com
Tel No: +44 (0)
20 7894 7000
Website: www.ramblermines.com
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ('MAR'). Upon the
publication of this announcement via Regulatory Information Service
('RIS'), this inside information is now considered to be in the
public domain.
Neither TSX Venture Exchange nor its Regulation Service Provider
(as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Caution Regarding Forward Looking Statements:
Certain information included in this press release, including
information relating to future financial or operating performance
and other statements that express the expectations of management or
estimates of future performance constitute "forward-looking
statements". Such forward-looking statements include, without
limitation, statements regarding copper, gold and silver forecasts,
the financial strength of the Company, estimates regarding timing
of future development and production and statements concerning
possible expansion opportunities for the Company. Where the Company
expresses or implies an expectation or belief as to future events
or results, such expectation or belief are based on assumptions
made in good faith and believed to have a reasonable basis. Such
assumptions include, without limitation, the price of and
anticipated costs of recovery of, copper concentrate, gold and
silver, the presence of and continuity of such minerals at modeled
grades and values, the capacities of various machinery and
equipment, the availability of personnel, machinery and equipment
at estimated prices, mineral recovery rates, and others. However,
forward-looking statements are subject to risks, uncertainties and
other factors, which could cause actual results to differ
materially from future results expressed, projected or implied by
such forward-looking statements. Such risks include, but are not
limited to, interpretation and implications of drilling and
geophysical results; estimates regarding timing of future capital
expenditures and costs towards profitable commercial operations.
Other factors that could cause actual results, developments or
events to differ materially from those anticipated include, among
others, increases/decreases in production; volatility in metals
prices and demand; currency fluctuations; cash operating margins;
cash operating cost per pound sold; costs per ton of ore; variances
in ore grade or recovery rates from those assumed in mining plans;
reserves and/or resources; the ability to successfully integrate
acquired assets; operational risks inherent in mining or
development activities and legislative factors relating to prices,
taxes, royalties, land use, title and permits, importing and
exporting of minerals and environmental protection. Accordingly,
undue reliance should not be placed on forward-looking statements
and the forward-looking statements contained in this press release
are expressly qualified in their entirety by this cautionary
statement. The forward-looking statements contained herein are made
as at the date hereof and the Company does not undertake any
obligation to update publicly or revise any such forward-looking
statements or any forward-looking statements contained in any other
documents whether as a result of new information, future events or
otherwise, except as required under applicable law.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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