Placing & Issue of Equity
Mercator Gold Plc
MERCATOR GOLD plc
(“Mercator Gold”, “Mercator” or “the
Company”)
PLACING & ISSUE OF EQUITY
London 7 October 2009
PLACING
The Company has made a placement of 3.125 million shares at 4 pence per
share to raise £125,000. The placement, made at a 15% premium to the
market, was organised through the Company’s long time advisors, Loeb
Aron, at a cost of 5% plus broker warrants. The funds raised will be
used to continue the work on the Copper Flat Project.
EXERCISE OF WARRANTS
The Company also announces that pursuant to the terms of a Warrant
Instrument by way of Deed Poll dated 29 May 2009, Notice of Exercise has
been received for 114 Warrants for Ordinary Shares of 0.1p each in the
Company (the 'Shares') at a subscription price of 5p each.
The Company has applied for the 3,125,000 and 114 Shares (3,125,114 New
Ordinary Shares in total) to be admitted to trading on AIM. Admission is
expected to take place on 8 October 2009. The New Ordinary Shares will
rank pari passu in all respects with the existing ordinary shares in the
Company currently traded on AIM. Following admission there will be
124,368,596 New Ordinary Shares in issue.
Managing Director, Patrick Harford, said: “The placement of
shares - achieved at a premium to market price - strengthens Mercator’s
balance sheet and provides the financial headroom for the company to
pursue its current work programmes.”
For further information please contact
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Mercator Gold plc
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Michael Silver, Chairman
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Tel:
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+44 (0) 20 7929 1010
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Patrick Harford, Managing Director
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Email: info@mercatorgold.com
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Website: www.mercatorgold.com
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Bankside Consultants Ltd
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Tel:
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+44 (0) 20 7367 8888
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Simon Rothschild
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Oliver Winters
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Cenkos Securities plc
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Adrian Hargrave
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Tel:
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+44 (0) 20 7397 8900
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Beth McKiernan
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Old Park Lane Capital PLC
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Forbes Cutler, Director of Corporate Broking
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Tel:
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+44 (0) 20 7518 2603
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AIM: MCR
