NQ Minerals Plc (AQSE:NQMI), the base and precious metals producer from its Hellyer Gold Mine in Tasmania Australia, has announced that it has raised £447,500 (gross) at 7 per share from a UK based investor and a group of private investors for general working capital purposes and the Company will issue 6,392,857 new ordinary shares under this equity issue.
Admission and Settlement
Application has been made for the Placing Shares to be admitted to trading on Aquis Stock Exchange and admission is expected to occur on or around 4 August 2020 (“Admission”). Upon Admission, the Company will have 367,261,002 ordinary shares of 0.1p each on issue, each carrying the right to one vote. There are no shares held in treasury.
The total voting rights in the Company will therefore be 367,261,002 and shareholders may use this figure as the denominator by which they are required to notify their interest in, or change to their interest in, the Company under the Disclosure Guidance and Transparency Rules. The placing is conditional upon the terms of a placing agreement and the shares being admitted to trading on Aquis Stock Exchange.
David Lenigas, NQ Mineral’s Chairman, comments, “NQ as a Company has less than 200 registered shareholders on its share register and it is important to expand the shareholder base as we move forward, hence why the Company has undertaken a number of sub £1 million placings in the past months, to not only provide key working capital for our Beaconsfield Gold Mine re-opening plans, but also to add shareholders to our shareholders base.”