Ariana Resources PLC Ariana Resources Plc : Placing To Raise Gbp900,000, Tvr
13 January 2017 - 7:00AM
UK Regulatory
TIDMAAU
13 January 2017
AIM: AAU
PLACING TO RAISE GBP900,000
TOTAL VOTING RIGHTS
Ariana Resources plc ("Ariana" or "the Company"), is pleased to announce
an oversubscribed placing of 56,250,000 new ordinary shares of 0.1 pence
each in the Company (the "Placing Shares") at a price of 1.6 pence per
share (the "Placing Price"), in order to raise gross proceeds of
approximately GBP900,000 (the "Placing") before expenses. The Placing
has been undertaken within the Company's existing share authorities, and
has been supported by both new and existing shareholders. The net
proceeds of the Placing will be used to advance the Company's projects
outside of Kiziltepe, and to support ongoing working capital
requirements of the Group. The Placing is conditional only on admission
to AIM ("Admission").
Application will be made for the 56,250,000 new ordinary shares of 0.1
pence issued under the Placing, to be admitted to trading on AIM
("Admission"). Such shares will rank pari passu with all existing
ordinary shares in the Company, and Admission is expected to take place
on 27 January 2017.
Dr. Kerim Sener, Managing Director, commented:
"We are pleased to be raising GBP900,000 at this important time in the
evolution of the Company. Following the recent acquisition of 100% of
the 1 million ounce Salinbas Project and the completion of a highly
encouraging scoping study at Tavsan, the funds raised will be utilised
to advance these projects in particular. Both projects require
additional value additive work that it is important that we conduct
during the winter months and immediately ahead of the exploration field
season. Completing this work while Kiziltepe is in the process of
entering production, will contribute significantly towards our strategy
to enhance our production profile towards 50,000 oz gold per annum."
Total voting rights
At Admission, the Company's issued share capital will consist of
897,791,783 ordinary shares with a nominal value of 0.1 pence each, with
voting rights ("Ordinary Shares"). The Company does not hold any
Ordinary Shares in Treasury. Therefore, the total number of Ordinary
Shares in the Company with voting rights will be 897,791,783.
This announcement contains inside information for the purposes of
Article 7 of the Market Abuse Regulation (EU) No 596/2014 ("MAR").
Contacts:
Ariana Resources plc Tel: +44 (0) 20 7407 3616
Michael de Villiers, Chairman
Kerim Sener, Managing Director
Beaumont Cornish Limited Tel: +44 (0) 20 7628 3396
Roland Cornish / Felicity Geidt
Beaufort Securities Limited Tel: +44 (0) 20 7382 8300
Jon Belliss
Panmure Gordon (UK) Limited Tel: +44 (0) 20 7886 2500
Adam James / Tom Salvesen
Editors' Notes:
About Ariana Resources:
Ariana is an exploration and development company focused on epithermal
gold-silver and porphyry copper-gold deposits in Turkey. The Company is
developing a portfolio of prospective licences originally selected on
the basis of its in-house geological and remote-sensing database.
The Company's flagship assets are its Kiziltepe and Tavsan gold projects
which form the Red Rabbit Gold Project. Both contain a series of
prospects, within two prolific mineralised districts in the Western
Anatolian Volcanic and Extensional (WAVE) Province in western Turkey.
This Province hosts the largest operating gold mines in Turkey and
remains highly prospective for new porphyry and epithermal deposits.
These core projects, which are separated by a distance of 75km, form
part of a 50:50 Joint Venture with Proccea Construction Co. The
Kiziltepe Sector of the Red Rabbit Project is fully-permitted and is
nearing start-up. The total resource inventory at the Red Rabbit
Project and wider project area stands at c. 525,000 ounces of gold
equivalent.
In north-eastern Turkey, Ariana owns 100% of the Salinbas Gold Project,
comprising the Salinbas gold-silver deposit and the Ardala
copper-gold-molybdenum porphyry among other prospects. The total
resource inventory of the Salinbas project area is c. 1 million ounces
of gold equivalent.
Beaufort Securities Limited and Panmure Gordon (UK) Limited are joint
brokers to the Company and Beaumont Cornish Limited is the Company's
Nominated Adviser.
For further information on Ariana you are invited to visit the Company's
website at www.arianaresources.com.
Ends
This announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the information
contained therein.
Source: Ariana Resources plc via Globenewswire
http://www.arianaresources.com/s/Home.asp
(END) Dow Jones Newswires
January 13, 2017 02:00 ET (07:00 GMT)
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