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.
IMC Exploration Group plc (“IMC” or the “Company”)
Placing of Shares
Placing of New and Treasury Shares
The Board of IMC is pleased to announce that the Company has raised £267,500
(two hundred and sixty-seven thousand five hundred pounds Sterling) before
expenses by way of an oversubscribed placing (the “Placing”) of 26,750,000
(twenty six million seven hundred and fifty thousand) new ordinary shares of
€0.001 each ("Shares") in the Company at a price of 1p per Share (one penny
Sterling) for cash (the “Placing Shares”), conditional only upon admission
of the new Placing Shares to the Official List of the FCA and to trading on
the regulated market of the London Stock Exchange (“Admission”) of the new
Placing Shares. Alongside each Placing Share will be issued a warrant to
subscribe for one further Share at a price of 2 p (two pence Sterling) per
Share, exercisable for one year from the date of issue (the “Warrants”).
No application shall be made for admission to any list or to trading on any
market (regulated or otherwise) of the Warrants.
Further to the announcement made by IMC on 5th August 2019, 3,250,000 (three
million two hundred and fifty thousand) existing IMC shares were returned to
the Company and had been held temporarily as treasury shares by IMC, pending
re-sale for cash. These 3,250,000 shares, which had been allotted but for
which no consideration had been received by the Company, have now been placed
on the same terms as the Placing Shares, resulting in IMC’s receiving a
further £32,500 (thirty-two thousand five hundred pounds Sterling) before
expenses.
Increase in Voting Rights Outstanding
The total number of voting rights in issue following the allotment of the
Placing Shares shall be 311,495,991 (previously, 284,745,991). This new total
is the denominator which shareholders should use to determine whether they are
obliged to notify IMC of an interest in (or of a change to a notifiable
interest in) voting rights. Application is being made for Admission for
26,750,000 Placing Shares.
Use of Proceeds
The net proceeds of the Placing will be applied for general working capital
purposes but, in particular, for the further advancement of IMC’s
exploration and geological work on its spoils and tailings project in Avoca,
Co. Wicklow, Ireland, and to extend the significant progress already made on
IMC’s collaboration with Trinity College Dublin. Further, IMC will work
closely with the Geological Survey of Ireland to continue with the exploration
work on IMC’s North Wexford gold project.
Conclusion
Eamon O’Brien, Chairman stated: “We are pleased to see significant support
from new and existing investors. With the price having recently reached an
all-time high of $2,000 per troy ounce, this is an auspicious time for gold
and, in particular, for IMC with its exciting gold projects in South East
Ireland. The Company will move to accelerate progress at the spoils and
tailings project in Avoca, Co. Wicklow and will provide independently-verified
updates as they become available.”
Eamon P. O’Brien,
Executive Chairman,
Dublin, 7(th) September 2020
The Directors of IMC, after due and careful enquiry, accept responsibility for
the contents of this announcement.
REGULATORY ANNOUNCEMENT ENDS.
Contact Details:
Keith, Bayley, Rogers & Co. Limited
Graham Atthill-Beck: +44 20 7464 4091/ +44 7506 43 41 07
/ Graham.Atthill-Beck@kbrl.co.uk
Brinsley Holman: +44 20 7464 4098 / Brinsley.Holman@kbrl.co.uk
IMC Exploration Group plc
Kathryn Byrne: +353 85 233 6033
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