REG-IMC Exploration Group Plc: Placing of New Equity Securities

IMC ExplorationAnnouncement

26/07/2019 11:30

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY IMC TO
CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION
(EU) NO. 596/2014, AS AMENDED ("MAR"). ON THE PUBLICATION OF THIS ANNOUNCEMENT
VIA A REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW
CONSIDERED TO BE IN THE PUBLIC DOMAIN. THE SHARE PLACING DESCRIBED BELOW DOES
NOT FORM PART OF A LARGER, ONGOING TRANSACTION AND, ACCORDINGLY, FURTHER
DISCLOSURE UNDER ARTICLE 17 OF MAR IS NOT REQUIRED. 

IMC EXPLORATION GROUP PLC
(“IMC” or the “Company”)
SHARE PLACING; EXPLORATION UPDATE

Following the admission to the standard segment of the Official List of the
Financial Conduct Authority of the United Kingdom (”FCA”) and to trading
on the regulated market of the London Stock Exchange (“Admission”) of the
whole of the issued share capital of the Company, the Board of IMC is pleased
to announce that it has raised GBP 100,000 (one hundred thousand pounds
Sterling) before expenses by way of a placing (the “Placing”) of
10,000,000 (ten million) new ordinary shares of EUR0.001 each ("Shares") in
the Company at a price of 1p per share (the “Placing Shares”), conditional
only upon Admission of the Placing Shares. Alongside each Placing Share will
be issued a warrant to subscribe for one further Share at a price of 1p per
Share, exercisable for one year from the date of issue (“Warrants”). There
is no intention to make application for admission to trading on any public
market of the 10,000,000 Warrants.
 
The Placing Shares will rank in all respects pari passu with the existing
Shares, of which 255,014,285 are in issue. Application is being made for
Admission of the Placing Shares, which is expected to occur on or about 30th
July 2019. The total number of Shares in issue following the Placing will be
265,014,285 (previously 255,014,285).

The net proceeds of the Placing will be applied to general working capital
purposes, including acceleration of the Company’s geological work on the
Avoca project in Co. Wicklow, Ireland. Recently, samples of the spoil heaps
were taken at one metre intervals through the upper sections of the heaps.
Sulphide mineralisation was visible throughout. A portion of these samples has
been combined and is currently undergoing extensive mineralogical and
metallurgical examination in an external laboratory to determine the most
efficient means of metal extraction. 

IMC’s exploration programme on its gold and copper licences in south-east
Ireland continues, with a considerable amount of data already gathered. These
data are currently being analysed and will inform the next phase of the
Company’s works’ programme in this area.  

Eamon P. O’Brien,
Executive Chairman,
Dublin, 26th July 2019 

The Directors of IMC, after due and careful enquiry, accept responsibility for
the contents of this announcement.
REGULATORY ANNOUNCEMENT ENDS.
Contact Details:
Kathryn Byrne: +353 85 233 6033
IMC Exploration Group plc

Graham Atthill-Beck: +44 20 7464 4091/+44 750 643 4107 /
Graham.Atthill-Beck@kbrl.co.uk  
Brinsley Holman: +44 20 7464 4098 / Brinsley.Holman@kbrl.co.uk    
Keith, Bayley, Rogers & Co. Limited

Tom Curran: +44 20 3700 0100
SVS Securities Limited 



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