London listed NQ Minerals Plc (AQSE: NQMI, OTCQB: NQMLF,
OTCQB:NQMIY), ("NQ" or the "Company") the base and precious metals
producer from its Hellyer Gold Mine ("Hellyer") in Tasmania
Australia, announces that it has raised 274,805 (gross) at 7 per
share from a UK based Institutional investor and a group of private
investors for general working capital purposes and the Company will
issue 3,925,789 new ordinary shares (Placing Shares) under this
equity issue.
Admission and Settlement
Application has been made for the Placing Shares to be admitted
to trading on the Aquis Exchange and admission is expected to occur
on or around 21 September 2020 ("Admission"). Upon Admission, the
Company will have 381,120,917 ordinary shares of 0.1p each on
issue, each carrying the right to one vote. There are no shares
held in treasury.
The total voting rights in the Company will therefore be
381,120,917 and shareholders may use this figure as the denominator
by which they are required to notify their interest in, or change
to their interest in, the Company under the Disclosure Guidance and
Transparency Rules. The placing is conditional upon the terms of a
placing agreement and the shares being admitted to trading on the
Aquis Exchange.
-END-
About NQ Minerals
NQ Minerals PLC is listed on the Londons Aquis Stock Exchange
(AQSE) under the ticker NQMI and has its 1:100 ADR traded on the US
OTC QB under the ticker NQMIY, and its ordinary shares are dual
traded on the US OTC QB under the ticker NQMLF.
NQ Minerals operations are in Australia. NQ commenced base metal
and precious metal production in 2018 at its 100% owned flagship
Hellyer Gold Mine in Tasmania. Hellyer has a published JORC
compliant Mineral Resource estimated at 9.25 Mt which is host to
Gold at 2.57 g/t Au for 764,300 oz Au, Silver at 92 g/t Ag for
27,360,300 oz Ag, Lead at 2.99% Pb for 276,600 tonnes and Zinc at
2.57% Zn for 217,400 tonnes. In addition to these resources, the
Hellyer assets include a large mill facility and full supporting
infrastructure, including a direct rail line to port. The Company
is also planning to reopen the historic high-grade Beaconsfield
Gold Mine in Tasmania, which has a JORC (2012) compliant Mineral
Resource Estimate of 1.454 Mt at 10.3 g/t Au for 483,000 ounces of
gold. Regular updates on the progress of the Hellyer Gold Mine and
Beaconsfield can be found on www.nqminerals.com.
Competent Persons Statement
The information in this report that relates to the Hellyer Gold
Mine is based on information compiled by Roger Jackson, an
Executive Director of the Company, who is a 20+ year Member of the
Australasian Institute of Mining and Metallurgy (MAusIMM) and a
Member of Australian Institute of Company Directors. Mr. Jackson
has sufficient experience which is relevant to the style of
mineralisation and type of deposits under consideration and to the
activity which he is undertaking to qualify as a Competent Person
as defined in the 2012 Edition of the Australasian Code for
Reporting of Exploration results, Mineral Resources and Ore
Reserves. Mr. Jackson consents to the inclusion of the data
contained in relevant resource reports used for this announcement
as well as the matters, form and context in which the relevant data
appears.
For further information, please contact:
NQ Minerals plc:
David Lenigas, Chairman
lenigas@nqminerals.com
Colin Sutherland, Chief Financial Officer
colin.sutherland@nqminerals.com
Tel: +1 416 452 2166 (North America)
Media Enquiries:
IFC Advisory Limited
Graham Herring
Tim Metcalfe
graham.herring@investor-focus.co.uk
Tel: +44 (0) 203 934 6630 (United Kingdom)
Corporate Adviser:
First Sentinel Corporate Finance Limited
Brian Stockbridge / Gabrielle Cordeiro
Tel: +44 (0) 207 183 7407 (United Kingdom)
Corporate Broker:
VSA Capital Limited
Andrew Monk/Maciek Szymanski
Tel:+ 44 (0) 203 005 5000 (United Kingdom)
The Following section relates to NQ Minerals Plcs news
releases distributed in the United States:
Cautionary Note to US Investors
The United States Securities and Exchange Commission ("SEC")
permits US Mining companies, in their filings with the SEC, to
disclose only those mineral deposits that a company can
economically and legally extract or produce. Any estimates of
mineral resources shown in this press release or on NQ Minerals
PLC's website have been prepared in accordance with definition
standards of the Australasian Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves produced by the
Australasian Joint Ore Reserves Committee, which may differ from
definition standards of the United States Securities and Exchange
Commission ("SEC") Industry Guide 7. We may use certain terms which
the SEC guidelines strictly prohibit US registered companies from
including in their filings with the SEC.
Cautionary Note Regarding Forward-Looking
Statements
This press release may contain "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Such statements
include, but are not limited to, any statements based on current
expectations, estimates, forecasts, and projections, including
those related to our growth strategy, mineral estimates and any
other statements that are not historical facts. Forward-looking
statements are based on management's current expectations and are
subject to risks and uncertainties that could negatively affect our
business, operating results, financial condition and stock price.
Factors that could cause actual results to differ materially from
those currently anticipated are: risks related to our growth
strategy; risks relating to exploration, development and/or
extraction; our ability to obtain, perform under, and maintain
financing and strategic agreements and relationships; our ability
to attract, integrate, and retain key personnel; global demand for
mineral resources; our need for substantial additional funds;
government regulation; as well as other risks. We expressly
disclaim any obligation or undertaking to release publicly any
updates or revisions to any forward-looking statements contained
herein to reflect any change in our expectations or any changes in
events, conditions, or circumstances on which any such statement is
based, except as required by law.
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