REG - Unicorn Mineral Res. - Subscription for £366,544 Convertible Loan Notes

Unicorn Mineral Resources Public CoAnnouncement

09/12/2024 07:00

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RNS Number : 2348P  Unicorn Mineral Resources plc  09 December 2024

Unicorn Mineral Resources

("Unicorn" or "the company")

9 December 2024

Subscription for £366,544 Convertible Loan Notes

 

Unicorn Mineral Resources Plc (LSE: UMR) is pleased to announce that, further
to the statement made at the AGM in October 2024 regarding the potential issue
of the remaining convertible loan notes, the Company has received signed
subscription letters for £366,544 convertible loan notes ("Subscription").
This completes the issue of all £600,000 notes that were constituted on 13
December 2023 ("Loan Notes") and will be converted into 6,000,000 new ordinary
shares €0.01 each of the Company ("Shares").  The funds raised by the
Subscription will be used for general working capital purposes, for
exploration at Kilmallock and Lisheen and for due diligence on prospects in
Africa.

The Loan Notes are due to be redeemed or converted by 31 December 2024.
Conversion of the Loan Notes is subject to the publication of an FCA approved
prospectus. The conversion price is 10p per Share.  The Company and its
advisers anticipate being able to publish the required prospectus within the
required time frame.

The Subscription has been taken up by Electro Automation Group Limited
("Electro Automation"), which is owned and managed by Patrick Doherty, the
Company's Chairman, and by Gathoni Muchai Investments Limited ("GMI"), a
company of which Jason Brewer, the Company's Executive Director, and his wife
are co-founders and directors.  Electro Automation and GMI have each
subscribed for £183,272 Loan Notes.

Following the Subscription, the holdings of Mr Doherty and Mr Brewer in the
Loan Notes will be as follows:

                CLNs (Post Subscription)  % of CLNs
 Mr Doherty(1)  £250,501                  41.8
 Mr Brewer(2)   £185,309                  30.9

Notes:

1.    £6,104 Loan Notes are held by Mr Doherty and £244,397 are held by
Electro Automation.

2.    Mr Brewer's interest is held by GMI.

 

This announcement contains information which, prior to its disclosure, was
inside information as stipulated under Regulation 11 of the Market Abuse
(Amendment) (EU Exit) Regulations 2019/310 (as amended).

 

 

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

 

 Unicorn Mineral Resources Plc       Novum Securities Limited - Financial Adviser and Broker

 John O'Connor, CFO                  David Coffman / George Duxberry

 Tel: +353 86 259 5123               Colin Rowbury

 Email: John.OConnor@UMR.ie          Tel: +44 (0)207 399 9400

 Gathoni Muchai Investments
 Faith Kinyanjui Mumbi

 info@gathonimuchaiinvestments.com

 

 

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