IMC EXPLORATION GROUP PLC

LSE : IMCP


March 07, 2014 02:00 ET

Share for Share Exchange

                                                                                             7th March 2014
                                                                                                           
                                                     
                                         IMC Exploration Group Plc
                                  ("IMC" or the "Company" or the "Group")
                                                     
                    Share for Share exchange with Global Resource Investment Trust Plc


IMC is pleased to announce the completion of a share for share exchange agreement with Global Resource
Investment Trust Plc ("GRIT"). As part of this agreement, IMC will issue 16 million Ordinary Shares to GRIT
at a price of GBP 0.02 pence resulting in GRIT being interested in 23% of the enlarged Issued Share Capital
of IMC.  In exchange for this issuance IMC will receive 320,000 Ordinary Shares in GRIT at a price of GBP 1
per share and thereby valuing the transaction at GBP 320,000.

Application has been made by GRIT for its Ordinary Shares to be admitted to the premium listing segment of
the Official List and for it's Ordinary Shares to be admitted to trading on the London Stock Exchange's
main market for listed securities with an expected listing date of 7th March 2014.

GRIT has been established to exploit investment opportunities in the junior mining and natural resource
sectors worldwide with an investment objective to generate medium and long term capital growth.

Liam McGrattan, Chairman of IMC commenting on the agreement with GRIT said "The Company is delighted to
have concluded this agreement with GRIT which demonstrates further confidence in the work conducted to date
by IMC. I look forward to working closely with the trust's Chairman Anthony St. John and his board
colleagues".

The Directors of the issuer accept responsibility for this announcement.

Contact Details:

IMC Exploration Group Plc
Mr. Liam McGrattan
Tel. Ireland: +353 87 2745427

LHM Casey McGrath
Mr. Con Casey
Tel. Ireland: +353 1 495 9200
con.casey@lhmcaseymcgrath.ie

Contact Information

  • IMC EXPLORATION GROUP PLC