Mercator Gold plc announces the Placing (the "Placing") of 16.9 million new ordinary shares of 0.01p each ("New Ordinary Shares") at a price of 2.5 pence per share to raise £422,500 before expenses.
Old Park Lane Capital plc (“OPL”) acted for the Company in the Placing of the New Ordinary Shares, with predominantly OPL’s institutional and ultra high net worth investors, which is conditional upon, inter alia, admission of the New Ordinary Shares to trading on AIM.
Application has been made for the admission of 16,900,000 New Ordinary Shares to AIM effective 19 March 2010. The New Ordinary Shares will rank pari passu in all respects with the existing Ordinary Shares currently traded on AIM. Following the admission there will be 161,271,584 Ordinary Shares in issue.
Patrick Harford, Managing Director of Mercator Gold, commented: “We are very encouraged by the continued support of our existing shareholders and we welcome our new investors in this Placing, which provides the Company with the financial flexibility to develop existing projects and pursue new projects of merit.”
For further information please contact:
|Mercator Gold plc|
|Michael Silver, Chairman||Tel:||+44 (0) 20 7929 1010|
|Patrick Harford, Managing Director||+1 646 239 9087|
|Bankside Consultants Ltd||Tel:||+44 (0) 20 7367 8888|
|Cenkos Securities plc|
|Beth McKiernan||Tel:||+44 (0) 20 7397 8900|
|Old Park Lane Capital PLC|
|Forbes Cutler||Tel:||+44 (0) 20 7518 2603|
|Director of Corporate Broking|
|Barry Kaplan Associates|
|Larry Kaplan||Tel:||+1 732 747 0702|
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