SOURCE: EMED Mining Public Limited
NICOSIA, CYPRUS--(Marketwired - Aug 20, 2014) - On 15 August 2014, EMED Mining Public Limited (AIM: EMED) (TSX: EMD) ("EMED Mining" or the "Company"), the Europe-based minerals development and exploration company, announced that it had entered into a subscription agreement with two of its cornerstone customers, XGC and Orion, to raise £13.1 million (approximately US$22 million) by way of a subscription (the "Subscription"). EMED Mining is pleased to announce that the transaction has received the requisite approval from the Toronto Stock Exchange, consequently all conditions precedent have been satisfied and the transaction has now closed.
The Company confirms that it has had admitted to trading on AIM today a total of 181,200,000 new ordinary shares of 0.25 pence of the Company ("Ordinary Shares") pursuant to the Subscription, with 140,000,000 Ordinary Shares at the Issue Price being subscribed by Orion and 41,200,000 Ordinary Shares at the Issue Price being subscribed by XGC.
For additional details on the Subscription please refer to the press release published by the Company on 15 August 2014.
For further information on the Company's activities, visit www.emed-mining.com or www.emed.tv.