RNS Number : 6731K

Alba Mineral Resources PLC

03 September 2021

Alba Mineral Resources plc

("Alba" or the "Company")

Greenland Spin-Out IPO

Release of Schedule One for GreenRoc Mining Plc

Further to the announcements of 20 July and 31 August 2021 regarding the proposed divestment by Alba Mineral Resources plc (AIM: ALBA) of its Greenlandic mining assets into a separate AIM-quoted vehicle, the Company is pleased to announce the release today by AIM of a Schedule One announcement in respect of GreenRoc Mining Plc ("GreenRoc"), a link to which is provided here Schedule One - GreenRoc Mining Plc - 08:00:03 03 Sep 2021 - News article | London Stock Exchange .

The Schedule One announcement provides at least ten business days' notice of the expected date of GreenRoc's admission to trading on AIM ("Admission"), and sets out certain prescribed information, including the following:

   -    Gross funds expected to be raised on Admission: GBP5.12m 
   -    GreenRoc's expected market capitalisation on Admission: GBP11.1m 

- GreenRoc's Board: Kirk Adams (CEO), George Frangeskides (Non-Executive Chairman), Jim Wynn (Finance Director), Mark Austin, Lars Brunner and Mark Rachovides (Non-Executive Directors)

   -    Expected date of Admission: mid-September 2021 

As previously announced, in consideration of the divestment of its Greenlandic assets to GreenRoc, Alba is to receive GreenRoc shares valued at GBP6m on Admission, which shareholding is expected to represent 54.0% of the enlarged share capital of GreenRoc on Admission.

This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.

Forward Looking Statements

This announcement contains forward-looking statements relating to expected or anticipated future events and anticipated results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, competition for qualified staff, the regulatory process and actions, technical issues, new legislation, uncertainties resulting from potential delays or changes in plans, uncertainties resulting from working in a new political jurisdiction, uncertainties regarding the results of exploration, uncertainties regarding the timing and granting of prospecting rights, uncertainties regarding the timing and granting of regulatory and other third party consents and approvals, uncertainties regarding the Company's or any third party's ability to execute and implement future plans, and the occurrence of unexpected events.

Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors.

For further information, please contact:

 Alba Mineral Resources plc 
  George Frangeskides, Executive Chairman    +44 20 3950 0725 
 Cairn Financial Advisers LLP (Nomad) 
  James Caithie / Liam Murray                +44 20 7213 0880 
 ETX Capital (Broker) 
  Thomas Smith                               +44 20 7392 1494 

Alba's Project and Investment Portfolio

 Project (commodity)            Location     Ownership 
 Mining Projects 
 Amitsoq (graphite)             Greenland    100% 
                               -----------  ---------- 
 Clogau (gold)                  Wales        90% 
                               -----------  ---------- 
 Gwynfynydd (gold)              Wales        100% 
                               -----------  ---------- 
 Inglefield (copper, cobalt, 
  gold)                         Greenland    100% 
                               -----------  ---------- 
 Limerick (zinc-lead)           Ireland      100% 
                               -----------  ---------- 
 Melville Bay (iron ore)        Greenland    100% 
                               -----------  ---------- 
 TBS (ilmenite)                 Greenland    100% 
                               -----------  ---------- 
 Oil & Gas Investments 
 Horse Hill (oil)               England      11.765% 
                               -----------  ---------- 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.



(END) Dow Jones Newswires

September 03, 2021 03:08 ET (07:08 GMT)

Alba Mineral Resources (LSE:ALBA)
Historical Stock Chart
From Apr 2022 to May 2022 Click Here for more Alba Mineral Resources Charts.
Alba Mineral Resources (LSE:ALBA)
Historical Stock Chart
From May 2021 to May 2022 Click Here for more Alba Mineral Resources Charts.