ALIEN METALS
Trading Symbols
AIM: UFO
FWB: I3A1
14 May
2019
Alien Metals
Ltd
(“Alien” or “the Company”)
Brokered placing
and grant of share options
Alien Metals Ltd, the AIM quoted exploration and development
company, is pleased to announce that it has raised £300,000, before
expenses, through the placing of 200 million Common shares or no
par value (“New Common Shares”) at a price of 0.15 pence each (“the Placing”) through its
broker First Equity Limited (“First Equity”). The proceeds of the
Placing will be used for further exploration work at Donovan 2 as
detailed below and general working capital purposes.
Peter Taylor, CEO of Alien,
commented: “This modest round of strategic funding underwrites
our ability to scout drill the Volcanogenic Massive Sulphide
(“VMS”) at Donovan 2 should the results of the gravity survey offer
a justified business case. We are in the process of collating
additional assays, structural data from underground exploration and
interpreting results of the gravity survey. Subject to this, we
remain on track to commence drilling in Q2 2019.”
The Placing is conditional only on the New Common Shares being
admitted to trading on AIM (“Admission”). Application will be made
to the London Stock Exchange for the 200,000,000 New Common Shares
to be admitted to trading on AIM. Admission of the New Common
Shares is expected to become effective at 8:00 am on or around 21
May 2019.
Following Admission, the Company will have 1,118,389,941 Common
shares of no par value in issue. The Company has no shares in
treasury, therefore the figure of 1,118,389,941 should be used by
shareholders for the calculations by which they will determine if
they are required to notify their interest in, or a change of their
interest in, the share capital of the Company under the FCA’s
Disclosure and Transparency Rules.
Grant of share options
Further to the announcement on 12 April
2019, that Dennis Edmonds had
ceased to act as a Director of the Company, the rules of the
Company’s share option plan determined that Mr Edmonds’ existing
17,142,373 share options would lapse. The Board have now agreed to
retain and restate Mr Edmonds options in recognition of the
contribution he has made to the Company in accordance with his
resignation. Options over 17,142,373 Common Shares, exercisable at
a price of 0.25 pence each, for a
period of five years from the date of grant, have therefore been
granted to Dennis Edmonds on the
same terms as previously existing.
For further information please visit the Company’s website
at www.alienmetals.uk, or
contact:
Alien Metals
Limited
Peter Taylor, CEO
David Taylor, Company Secretary
Tel: +44 (0)20 7887 6599 |
Yellow Jersey PR
Limited
Felicity Winkles/Annabel Atkins
Tel: +44 (0)774 884 3871 |
Beaumont Cornish
Limited (Nomad)
James Biddle/ Roland Cornish
www.beaumontcornish.com
Tel: +44 (0) 207 628 3396 |
First Equity Limited
(Broker)
Jason Robertson
Tel +44 (0)20 7374 2212 |
Notes to Editors
Alien Metals Limited is an AIM quoted mining exploration and
development company. Since the recomposition of the Board and
company name change in 2018, Alien has focused on delivering its
strategy of acquiring mining projects which demonstrate significant
development upside, in jurisdictions with established
infrastructure and mining codes, and where strong operational
controls can be assured.
In addition to progressing its acquisition-led strategy,
following the strategic review of its portfolio of projects in
Mexico during 2018-19, the Company
has identified exploration targets across its 12 mining concessions
in Zacatecas, Mexico, which it is
working to advance systematically.