NICOSIA, CYPRUS--(Marketwired - Jun 24, 2013) - EMED Mining Public Limited (
24 June 2013 Subscription Agreements Signed in Connection with Conditional GBP9.6 Million Convertible Secured Loan Note Issue and Allocation of Additional Off-take Rights Highlights * GBP9.6 million (approximately US$15 million) conditionally raised through the issue of new convertible secured loan notes to XGC and Red Kite; * The Notes convert into Ordinary Shares at 9 pence per share which represents a premium of 58% over the current 5 day volume-weighted average price of the Ordinary Shares on AIM ("VWAP") immediately prior to the day the proposed financing was announced on 13 June 2013; and * Proposed increase in the existing off-take arrangements with Red Kite and XGC. EMED Mining Public Limited ("EMED Mining" or the "Company"), the Europe-based minerals development and exploration company, is pleased to announce that it has entered into subscription agreements with cornerstone customers, Yanggu Xiangguang Copper Co. Ltd ("XGC") and RK Mine Finance (Master) Fund II LP ("Red Kite") in relation to the proposed fundraising announced on 13 June 2013. The agreements set out the basis on which XGC and Red Kite have conditionally agreed to provide additional finance to the Company of GBP9.6 million (approximately US$15 million) and the increase of the Company's committed allocation of copper concentrate product expected to be recovered out of current ore reserves at its Rio Tinto Copper Project from 35% to an aggregate of approximately 50%. The fundraising is by way of the issue of GBP9.6 million (approximately US$15 million) nominal amount of convertible secured loan notes ("Notes"). The funds will be utilised by the Company to continue final permitting, preliminary restart activities at the Rio Tinto Copper Project and for general working capital purposes. The terms of the transactions with XGC and Red Kite and of the Notes are set out below. Thesubscriptions by XGC and Red Kite and the grant of further off-take rights are subject, inter alia, to the approval of the Chinese National Development and Reform Committee ("NDRC") and the conditional approval of the Toronto Stock Exchange ("TSX"). Conditional approval has been received from the TSX, while NDRC approval is in progress. Click on, or paste the following link into your web browser, to view the associated PDF document: http://www.rns-pdf.londonstockexchange.com/rns/6438H_1-2013-6-21.pdf This information is provided by RNS The company news service from the London Stock Exchange END
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