Issue of Equity
Mercator Gold Plc
MERCATOR GOLD plc
(“Mercator Gold”, “Mercator” or “the Company”)
ISSUE OF EQUITY
London - 17 November 2009
PLACING OF SHARES
Mercator Gold plc is pleased to announce the placement of 20,000,000 New
Ordinary Shares in the Company to Suphansa Holdings Ltd (“Suphansa”).
The consideration for the Mercator shares is 3,000,000 shares, held by
Suphansa, in Uranio AG, a Swiss company quoted on the Frankfurt, Berlin
and Stuttgart stock exchanges. 3,000,000 shares in Uranio AG represent
1.33 per cent of its issued share capital. Uranio AG is an exploration
and emerging mining company with headquarters in Basel, Switzerland. Its
principal assets are extensive Uranium-rich exploration properties in
the Central African Republic (“CAR”) and in Argentina. Uranio had gross
assets of £6.6 million for the financial year to 31 December 2008.
According to a report released by Uranio on 22 October 2009 and provided
by Equity Development (www.equitydevelopment.co.uk),
an FSA regulated analyst company, the tenements have the potential to
contain over 100,000 tonnes of Uranium. (The Uranio report may be
downloaded at: http://www.uranio.ch/english/downloads.html.)
The principal shareholder of Suphansa is Mr Philip Saunders. Mr Saunders
has a close association with Mr Richard Ondoko, a well-known businessman
resident in the CAR and who was responsible for assisting the Uranio
involvement in that country. Mercator intends to pursue jointly with Mr
Saunders and Mr Ondoko other opportunities throughout Sub-Saharan
Africa. Mercator will provide technical and corporate advice to Suphansa
and Mr Ondoko in this effort. Suphansa has agreed to a voluntary escrow
of the shares issued to it for a period of 12 months.
The Managing Director of Mercator, Mr Patrick Harford, is aware that
Uranio under Richard Ondoko’s guidance has built a substantial asset in
Uranium tenements across Central Africa and we look forward to assisting
in the development of these and other assets.
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 1,846 Warrants for Ordinary Shares of 0.1p each in the
Company at a subscription price of 5p each.
The Company has applied for the 20,000,000 New Ordinary Shares and 1,846
New Ordinary Shares (20,001,846 New Ordinary Shares in total) to be
admitted to trading on AIM. Admission is expected to take place on 19
November 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 144,370,442 Ordinary
Shares in issue.
For further information please contact
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Mercator Gold plc
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Michael Silver, Chairman
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Tel: +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: +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: +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: +44 (0) 20 7518 2603
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AIM: MCR
