European Minerals Corporation
TSX : EPM
AIM : EUM

European Minerals Corporation

December 18, 2007 09:33 ET

European Minerals Corporation Closes on Private Placement to Complete C$22 Million Financing

LONDON, ENGLAND--(Marketwire - Dec. 18, 2007) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

European Minerals Corporation ("EMC" or the "Company") - (TSX:EPM)(AIM:EUM) - is pleased to announce that it has issued a total of 17,496,875 common shares of no par value in the Company at a price of C$1.28 per share (62 pence per share), for aggregate gross proceeds of C$22,396,000 (Pounds Sterling 10,848,063) in connection with its previously announced private placement.

EMC plans to use the net proceeds of this financing to fund advancement of its mineral projects and for general corporate purposes.

The common shares will rank pari passu with the existing common shares in the Company and have been listed and posted for trading on the Toronto Stock Exchange. Application has been made for the common shares to be admitted to trading on AIM and it is anticipated that admission will occur on Wednesday, 19 December 2007.

Following the issue of shares mentioned above, the Company's total issued and outstanding share capital consists of 302,802,981 common shares of no par value each with voting rights. None of the common shares are held in Treasury.

Therefore, the total number of voting rights in the Company is 302,802,981.

The above figure of 302,802,981 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to the interest in, the Company under the FSA's Disclosure and Transparency Rules.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

Forward-Looking Statements

The foregoing information may contain forward-looking statements relating to the future performance of the Company. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, including the failure to close, or a delay in the closing of, the placement, and actual results may differ materially. These risks and uncertainties are detailed from time to time in the Company's filings with the appropriate securities commissions.

Contact Information

  • Investor Information:
    United Kingdom
    European Minerals Corporation
    Tony Williams, Chairman
    +44 (0) 20 7529 7508
    or
    European Minerals Corporation
    Bert Kennedy
    President & CEO
    +44 (0) 20 7529 7508
    or
    Canaccord Adams Limited
    Mike Jones/Robin Birchall
    +44 (0) 20 7050 6500
    or
    North America
    Vanguard Shareholder Solutions Inc.
    Keith Schaefer
    1-866-448-0780
    Email: ir@vanguardsolutions.ca