Rambler Metals & Mining PLC Convertible Loan Note Financing Close (8003J)
07 December 2018 - 7:37PM
UK Regulatory
TIDMRMM
RNS Number : 8003J
Rambler Metals & Mining PLC
07 December 2018
7 December 2018
Rambler Closes Convertible Loan Note Financing
London, England - Newfoundland and Labrador, Canada - Rambler
Metals and Mining plc (TSXV: RAB, AIM: RMM) (Rambler or the
Company) is pleased to announce that on November 26, 2018 it closed
its previously announced financing transaction with CE Mining III
Rambler Limited (the Investor) of US$2 million in the form of
senior secured convertible loan notes (the Loan Notes). Additional
details on the terms on the Loan Notes can be found in the
Company's news release dated November 26, 2018.
The proceeds received from the issuance of the Loan Notes will
be used by the Company to strengthen its working capital position
and for general corporate purposes.
The ordinary shares issued pursuant to conversion of the Loan
Notes will be subject to hold periods imposed in accordance with
the policies of the TSX Venture Exchange and applicable securities
laws which expire four months from the date of the closing. The
Investor will also receive an arrangement fee equal to 2% of the
principal value of the Loan Notes, which will be payable in cash to
the Investor by December 31, 2018.
This announcement has been posted on the Company's website at
www.ramblermines.com and will be posted under the Company's SEDAR
profile at www.sedar.com.
ABOUT RAMBLER METALS AND MINING
Rambler is a mining and development company that in November
2012 brought its first mine into commercial production. Rambler has
a 100 per cent ownership in the Ming Copper-Gold Mine, a fully
operational base and precious metals processing facility and year
round bulk storage and shipping facility; all located on the Baie
Verte peninsula, Newfoundland and Labrador, Canada.
Following the completion of its recent productivity improvement
initiative Rambler's focus is on sustaining mine and mill
production at 1,250 metric tonnes per day. With a return to
profitability and positive cash flow, Rambler will continue
advancing Phase III engineering studies with a view to further
increase production to 2,000 mtpd at the Ming Mine.
Along with the Ming Mine, Rambler also owns 100 per cent of the
former producing Little Deer/ Whales Back copper mines and has
strategic investment in the former producing Hammerdown gold
mine.
Rambler is dual listed in London under AIM:RMM and in Canada
under TSX-V:RAB.
For further information, please contact:
Norman Williams, CPA,CA Peter Mercer
President and CEO Vice President, Corporate
Rambler Metals & Mining Secretary
Plc Rambler Metals & Mining Plc
Tel No: 709-800-1929 Tel No: +44 (0) 20 8652-2700
Fax No: 709-800-1921 Fax No: +44 (0) 20 8652-2719
Nominated Adviser (NOMAD)
David Porter, Peter Malovany
Cantor Fitzgerald Europe
Tel No: +44 (0) 20 7894
7000
Website: www.ramblermines.com
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ('MAR'). Upon the
publication of this announcement via Regulatory Information Service
('RIS'), this inside information is now considered to be in the
public domain.
Neither TSX Venture Exchange nor its Regulation Service Provider
(as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Caution Regarding Forward Looking Statements:
Certain information included in this news release, including
information relating to future financial or operating performance
and other statements that express the expectations of management or
estimates of future performance constitute "forward-looking
statements". Such forward-looking statements include, without
limitation, statements regarding the proposed use of proceeds and
statements regarding expected mine and mill production. Where the
Company expresses or implies an expectation or belief as to future
events or results, such expectation or belief is based on
assumptions made in good faith and believed to have a reasonable
basis. However, forward-looking statements are subject to risks,
uncertainties and other factors, which could cause actual results
to differ materially from future results expressed, projected or
implied by such forward-looking statements. Such risks include, but
are not limited to, interpretation and implications of drilling and
geophysical results, estimates regarding timing of future capital
expenditures and costs towards profitable commercial operations.
Other factors that could cause actual results, developments or
events to differ materially from those anticipated include, among
others, increases/decreases in production; volatility in metals
prices and demand; currency fluctuations; cash operating margins;
cash operating cost per pound sold; costs per ton of ore; variances
in ore grade or recovery rates from those assumed in mining plans;
reserves and/or resources; the ability to successfully integrate
acquired assets; operational risks inherent in mining or
development activities and legislative factors relating to prices,
taxes, royalties, land use, title and permits, importing and
exporting of minerals and environmental protection. Accordingly,
undue reliance should not be placed on forward-looking statements
and the forward-looking statements contained in this news release
are expressly qualified in their entirety by this cautionary
statement. The forward-looking statements contained herein are made
as at the date hereof and the Company does not undertake any
obligation to update publicly or revise any such forward-looking
statements or any forward-looking statements contained in any other
documents whether as a result of new information, future events or
otherwise, except as required under applicable law.
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.
END
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