Rambler Metals & Mining PLC Delay to completion of Transaction (4135H)
December 03 2020 - 1:00AM
UK Regulatory
TIDMRMM
RNS Number : 4135H
Rambler Metals & Mining PLC
03 December 2020
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF EU REGULATION 596/2014 AND.
3 December 2020
Delay to completion of Equity Raising, Note Financing and
Conversion of Loans
London, England, Newfoundland and Labrador, Canada - Rambler
Metals and Mining plc (AIM: RMM) ("Rambler" or the "Company"), a
copper and gold producer, explorer, and developer, announces a
delay to the equity raising, note financing and conversion of loan
notes, further details of which were set out in the Company's
announcement of 13 November 2020 ("Transaction").
It was expected that the Transaction would complete on 3
December 2020, with the admission of new ordinary shares of the
Company to trading on AIM.
The proposed note financing of US$5 million is awaiting final
documentation which is reasonably expected in the next 24 hours.
The Directors remain confident that that the note financing is
capable of being satisfied and must be satisfied by not later than
18 December 2020 in any event. Should the note financing not become
unconditional in all respects by 18 December 2020, then the
Transaction will not proceed.
A further announcement will be made in due course.
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.
Rambler's focus is to regain its production profile at 1,350
metric tonnes per day at 2% Cu in the course of 2021 and evaluate
expansion opportunities from that base. Along with the Ming Mine,
Rambler also owns 100 per cent of former producing Little Deer /
Whales Back and Ming West copper mines.
Rambler is listed in London under AIM:RMM.
For further information, please contact:
Toby Bradbury Sanjay Swarup T im Sanford. P. Eng.
President and CEO CFO Vice President and
Rambler Metals & Mining Rambler Metals & Mining Corporate Secretary
Plc Plc Rambler Metals & Mining
Tel No: +44 (0) 20 Tel No: +44 (0) 20 Plc
7 096 0 662 7096 0662 Tel No: +1 (709) 532
Fax No: +44 (0) 20 Fax No: +44 (0) 20 5736
860 9 0 313 8609 0313 Fax No: +1 (709) 8 00
1 921
Nominated Advisor (NOMAD)
Ewan Leggat, Caroline
Rowe
SP Angel Corporate
Finance LLP
Tel No: +44 (0) 20
3470 0470
Website: www.ramblermines.com
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.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCQXLBBBLLXFBF
(END) Dow Jones Newswires
December 03, 2020 02:00 ET (07:00 GMT)
Rambler Metals & Mining (LSE:RMM)
Historical Stock Chart
From Apr 2024 to May 2024
Rambler Metals & Mining (LSE:RMM)
Historical Stock Chart
From May 2023 to May 2024