REG - AfriTin Mining Ltd - Subscription Update

Andrada MiningAnnouncement

30/09/2022 17:00

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RNS Number : 4248B  AfriTin Mining Ltd  30 September 2022

30 September 2022

AfriTin Mining Limited

 

("AfriTin" or the "Company")

 

Subscription Update

 

Further to the announcement of 16 September 2022, AfriTin provides the
following update on the subscription by the Orange Trust.

As announced on 16 September 2022, the Orange Trust has subscribed for
173,320,000 new ordinary shares at a price of 5 pence per new ordinary shares
("Subscription Shares") (approximately £8.7m (the "Settlement Proceeds")).
The Settlement Proceeds were due to be received by midday on 29 September
2022, but due to the delays in setting up the relevant account to receive the
shares the Company has agreed to extend the settlement date for the Orange
Trust to 7 October 2022.

 

Accordingly, application has been made for the Subscription Shares to be
admitted to trading on AIM on or around 10 October 2022 ("Subscription
Admission"). Following Admission of the Subscription Shares the Company's
issued ordinary share capital will consist of 1,517,863,344 Ordinary Shares,
with the right to one vote each. The Company will hold no Ordinary Shares in
treasury. Therefore, the total number of Ordinary Shares and voting rights in
the Company will be 1,517,863,344. With effect from the Subscription
Admission, this figure 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
share capital of the Company under the Financial Conduct Authority's
Disclosure Guidance and Transparency Rules.

 

For further information, please visit www.afritinmining.com
(http://www.afritinmining.com) or contact:

 

 

 AfriTin Mining Limited                   +27 (11) 268 6555
 Anthony Viljoen, CEO
 Nominated Adviser                        +44 (0) 207 220 1666
 WH Ireland Limited

 Katy Mitchell
 Corporate Advisor and Joint Broker
 H&P Advisory Limited                     +44 (0) 20 7907 8500

 Andrew Chubb

 Jay Ashfield

 Nilesh Patel
 Stifel Nicolaus Europe Limited           +44 (0) 20 7710 7600

 Ashton Clanfield

 Callum Stewart
 Tavistock Financial PR (United Kingdom)  +44 (0) 207 920 3150
 Emily Moss

 Cath Drummond

 

 About AfriTin Mining Limited

 Notes to Editors

 AfriTin Mining Limited is a London-listed tech-metals mining company with a
 vision to create a portfolio of globally significant, conflict-free, producing
 assets. The Company's flagship asset is the Uis Tin Mine in Namibia, formerly
 the world's largest hard-rock open cast tin mine.

 AfriTin is managed by an experienced board of directors and management team
 with a current strategy to ramp-up production at the Uis Tin Mine in Namibia
 to more than 10,000 tonnes of tin concentrate and 350,000 tonnes of lithium
 concentrate in a Phase 2 expansion, having reached Phase 1 commercial
 production in 2020. The Company strives to capitalise on the solid
 supply/demand fundamentals of tin and lithium by developing a critical mass of
 resource inventory, achieving production in the near term and further scaling
 production by consolidating assets in Africa.

 

 

 

About AfriTin Mining Limited

Notes to Editors

AfriTin Mining Limited is a London-listed tech-metals mining company with a
vision to create a portfolio of globally significant, conflict-free, producing
assets. The Company's flagship asset is the Uis Tin Mine in Namibia, formerly
the world's largest hard-rock open cast tin mine.

AfriTin is managed by an experienced board of directors and management team
with a current strategy to ramp-up production at the Uis Tin Mine in Namibia
to more than 10,000 tonnes of tin concentrate and 350,000 tonnes of lithium
concentrate in a Phase 2 expansion, having reached Phase 1 commercial
production in 2020. The Company strives to capitalise on the solid
supply/demand fundamentals of tin and lithium by developing a critical mass of
resource inventory, achieving production in the near term and further scaling
production by consolidating assets in Africa.

 

 

 

 

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