Rambler Metals & Mining Plc

Rambler Metals & Mining Plc

September 28, 2009 14:31 ET

Rambler Metals & Mining Proposed Placing

LONDON, ENGLAND and BAIE VERTE, NEWFOUNDLAND AND LABRADOR--(Marketwire - Sept. 28, 2009) - Rambler Metals & Mining PLC (TSX VENTURE:RAB) (AIM:RMM) (the "Company") announces today that it intends to raise approximately Pounds Sterling 5.5 million before expenses through a placing of up to 27,500,000 Ordinary Shares at 20 pence each (approximately Cdn.$0.345 per share). The Company intends to use the net proceeds realized from the private placement to fund the previously announced proposed acquisition and refurbishment of a gold processing facility located in Newfoundland and Labrador, Canada.

Ocean Equities Limited has been retained as broker for the Placing on a reasonable endeavours basis. Seymour Pierce Limited is acting as a placing agent. The placing will be subject to a placing agreement to be entered into between the Company and Ocean Equities Limited, the passing by shareholders at an extraordinary general meeting of the Company to be held on 20 October 2009 of resolutions giving authority to allot shares pursuant to the placing, and approval of the TSX Venture Exchange.

About the Company

The Rambler property had been a former underground copper and gold producing property that ceased production when the deposit reached a then third party property boundary. This neighbouring property was subsequently consolidated before being brought into the Company. The Company now owns a 100% interest in the property.

The principal activity of the Group is carrying out development and exploration on the Rambler Property a mineral exploration property located on Newfoundland and Labrador's Baie Verte Peninsula.

Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Rambler Metals and Mining Canada Limited
    George Ogilvie, P.Eng.
    President and CEO
    Rambler Metals & Mining Plc
    Leslie Little
    Company Secretary
    +44 (0) 14-8341-9942
    Seymour Pierce Limited
    Nandita Sahgal
    +44 (0) 20-7107 8000
    Pelham Public Relations
    Chelsea Hayes/Klara Kaczmarek
    +44 (0) 20-7337-1523 /20-7337-1524