REG-IMC Exploration Group Plc: Placing; Issue of Shares in Lieu of Fees

IMC ExplorationAnnouncement

20/08/2019 08:00

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY IMC TO
CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION
(EU) NO. 596/2014, AS AMENDED ("MAR"). ON THE PUBLICATION OF THIS ANNOUNCEMENT
VIA A REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW
CONSIDERED TO BE IN THE PUBLIC DOMAIN. THE SHARE PLACING DESCRIBED BELOW DOES
NOT FORM PART OF A LARGER, ONGOING TRANSACTION AND, ACCORDINGLY, FURTHER
DISCLOSURE UNDER ARTICLE 17 OF MAR IS NOT REQUIRED. 

IMC EXPLORATION GROUP PLC
(“IMC” or the “Company”)
SHARE PLACING and ISSUE of SHARES in LIEU of FEES

The Board of IMC is pleased to announce that it has raised £150,000 (one
hundred and fifty thousand pounds Sterling) before expenses by way of a
placing (the “Placing”) of 15,000,000 (fifteen million) new ordinary
shares of €0.001 each ("Shares") in the Company at a price of 1 penny per
share for cash (the “Placing Shares”), conditional only upon admission of
the Placing Shares to the Official List of the FCA and to trading on the
regulated market of the London Stock Exchange (“Admission”) of the Placing
Shares. Additionally, the Company has resolved to allot to third parties
2,731,706 Shares at the same price (the “Fee Shares”), in satisfaction of
professional fees owed by the Company. Alongside each Placing Share will be
issued a warrant to subscribe for one further Share at a price of 1p per
Share, exercisable for one year from the date of issue (“Warrant”). There
is no intention to make application for admission to trading on any public
market of the 15,000,000 Warrants being issued with the Placing Shares. 
 The Placing Shares and the Fee Shares will rank in all respects pari passu
with the existing Shares, of which 265,014,285 are in issue. Application is
being made for Admission of all 17,731,706 Shares comprising the Placing
Shares and the Fee Shares, which is expected to occur on or about 23rd August
2019. The total number of Shares in issue following the Placing and issuance
of the Fee Shares will be 282,745,991 (previously 265,014,285).

The net proceeds of the Placing will be applied to general working capital
purposes, including acceleration of IMC’s exploration and geological work on
its spoils and tailings project in Avoca, Co. Wicklow, Ireland. The Directors
note the gold price has recently surpassed $1,500 per troy ounce for the first
time in over six years.  This is good news for IMC and, in particular, bodes
well for its gold, spoils and tailings project in Avoca, Co. Wicklow.

Eamon P. O’Brien,
Executive Chairman,
Dublin, 20th August 2019

The Directors of IMC, after due and careful enquiry, accept responsibility for
the contents of this announcement.
REGULATORY ANNOUNCEMENT ENDS.
Contact Details:
Kathryn Byrne: +353 85 233 6033
IMC Exploration Group plc

Graham Atthill-Beck: +44 20 7464 4091/+971 50 856 9408 /
Graham.Atthill-Beck@kbrl.co.uk  
Brinsley Holman: +44 20 7464 4098 / Brinsley.Holman@kbrl.co.uk    
Keith, Bayley, Rogers & Co. Limited



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