REG - Empire Metals Ltd - Completion of Acquisition: Pitfield Cu-Au Project

Empire MetalsAnnouncement

13/04/2022 10:00

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RNS Number : 2628I  Empire Metals Limited  13 April 2022

Empire Metals Limited / LON: EEE / Sector: Natural Resources

13 April 2022

Empire Metals Limited

Completion of Acquisition of Pitfield Copper-Gold Project

Empire Metals Limited (LON: EEE), announces that it has completed the
acquisition of the Pitfield Copper-Gold Project ('Pitfield') the first of
three highly prospective Australian-based copper-gold projects (the
'Projects') acquired from Century Minerals Pty Ltd ('Century') (refer to RNS
dated 6 April 2022).

 

Completion and Issue of Equity

The consideration for the Projects will be satisfied by the issue of
16,835,588 new ordinary shares in Empire (representing 5% of the issued share
capital of the Company at signing) (the 'Consideration Shares') apportioned
equally between each Project and issued upon the grant of the relevant
Tenement comprising each Project, which in the case of Pitfield is the already
granted Exploration Licence E70/5465.

Following completion on Pitfield, 5,611,863, Consideration Shares have been
issued.  The remaining two thirds of the Consideration Shares will be issued
in two tranches at the time that the Stavely and Walton licences are granted.

 

Application for Admission

The 5,611,863 Consideration Shares will rank pari passu in all respects with
the existing ordinary shares of no-par value in the capital of the Company.
Application will be made to the London Stock Exchange for the new shares to be
admitted to trading on AIM ('Admission').  It is expected that Admission will
become effective on or around 21 April 2022.

Following Admission of the new shares as described above, the issued share
capital of the Company will consist of 342,323,618 ordinary shares of no-par
value. 342,323,618 represents the total number of voting rights in the Company
and may be used by shareholders as the denominator for the calculations by
which they can 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.

 

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed
inside information for the purposes of Article 7 of Regulation (EU) No
596/2014, as incorporated into UK law by the European Union (Withdrawal) Act
2018, until the release of this announcement.

 

**ENDS**

For further information please visit www.empiremetals.co.uk
(http://www.empiremetals.co.uk)   or contact:

 Empire Metals Ltd                                                                       Tel: 020 7907 9327

 Shaun Bunn / Greg Kuenzel
 S. P. Angel Corporate Finance LLP (Nomad & Broker)                                      Tel: 020 3470 0470

 Ewan Leggat / Adam Cowl
 Shard Capital Partners LLP (Joint Broker)                                               Tel: 020 7186 9950

 Damon Heath
 St Brides Partners Ltd (Financial                                                       Tel: 020 7236 1177
 PR)

 Susie Geliher / Ana Ribeiro / Selina Lovell

 

About Empire Metals Limited
Empire Metals is an AIM-listed (LON: EEE) exploration and resource development company with a project portfolio comprising gold interests in Australia and Austria.
The Company's strategy is to develop a pipeline of projects at different stages in the development curve. Its initial focus has been on the high-grade Eclipse and Gindalbie Gold Projects in Western Australia, with the goal to expand through the addition of further projects Australia-wide to develop a viable and compelling portfolio of precious and base metal assets.
Empire also holds a portfolio of three precious metals projects located an historically high-grade gold production region comprising the Rotgulden, Schonberg and Walchen prospects in central-southern Austria.
The Board continues to evaluate opportunities through which to realise the value of its wider portfolio and reviews further assets which meet the Company's investment criteria.

 

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