Rambler Metals and Mining PLC Announces Exercise of Warrants and Issue of Equity
Newfoundland and Labrador, Canada (FSCwire) - Rambler Metals and Mining plc (TSXV: RAB; AIM: RMM) ('Rambler' or the 'Company'), is pleased to announce that CE Mining II Rambler Limited ('CEII Rambler') has elected to convert its remaining 65,000,000 warrants constituted under the warrant instrument dated 2 June 2016 ('Warrants') into 65,000,000 ordinary shares of £0.01 each in the Company ('Ordinary Shares') at a subscription price equal to £0.05 per new Ordinary Share pursuant to a notice of the exercise of the Warrants ('Notice of Exercise') which was received by Rambler on 1 June 2018 ('Warrant Exercise'). Accordingly, 65,000,000 new Ordinary Shares are to be issued to CEII Rambler for an aggregate exercise price of £3,250,000 ('Subscription Monies').
The proceeds received from the Warrant Exercise will be used by the Company to strengthen its working capital position as it moves towards its sustained production target of 1,250 metric tonnes per day.
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http://www.rns-pdf.londonstockexchange.com/rns/9350P_1-2018-5-31.pdf
For further information, please contact:
| Norman Williams, CPA,CA President and CEO Tel No: 709-800-1929 Fax No: 709-800-1921 | Peter Mercer Vice President, Corporate Secretary Tel No: +44 (0) 20 8652-2700 Fax No: +44 (0) 20 8652-2719 |
| Nominated Advisor (NOMAD) | Investor Relations |
| David Porter, Peter Malovany Cantor Fitzgerald Europe Tel No: +44 (0) 20 7894 7000 | Nicole Marchand Investor Relations Tel No: 416- 428-3533 Nicole@nm-ir.com |
Website: www.ramblermines.com
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Source: Rambler Metals and Mining plc (TSX Venture:RAB, AIM:RMM, OTC Pink:RBMTF, FWB:51R)
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