IMC Exploration Group Plc - Placing; Issue of Shares in Lieu of Fees

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY IMC TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014, AS AMENDED ("MAR"). ON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN. THE SHARE PLACING DESCRIBED BELOW DOES NOT FORM PART OF A LARGER, ONGOING TRANSACTION AND, ACCORDINGLY, FURTHER DISCLOSURE UNDER ARTICLE 17 OF MAR IS NOT REQUIRED. 

IMC EXPLORATION GROUP PLC
(“IMC” or the “Company”)
SHARE PLACING and ISSUE of SHARES in LIEU of FEES

The Board of IMC is pleased to announce that it has raised £150,000 (one hundred and fifty thousand pounds Sterling) before expenses by way of a placing (the “Placing”) of 15,000,000 (fifteen million) new ordinary shares of €0.001 each ("Shares") in the Company at a price of 1 penny per share for cash (the “Placing Shares”), conditional only upon admission of the Placing Shares to the Official List of the FCA and to trading on the regulated market of the London Stock Exchange (“Admission”) of the Placing Shares. Additionally, the Company has resolved to allot to third parties 2,731,706 Shares at the same price (the “Fee Shares”), in satisfaction of professional fees owed by the Company. Alongside each Placing Share will be issued a warrant to subscribe for one further Share at a price of 1p per Share, exercisable for one year from the date of issue (“Warrant”). There is no intention to make application for admission to trading on any public market of the 15,000,000 Warrants being issued with the Placing Shares. 
 The Placing Shares and the Fee Shares will rank in all respects pari passu with the existing Shares, of which 265,014,285 are in issue. Application is being made for Admission of all 17,731,706 Shares comprising the Placing Shares and the Fee Shares, which is expected to occur on or about 23rd August 2019. The total number of Shares in issue following the Placing and issuance of the Fee Shares will be 282,745,991 (previously 265,014,285).

The net proceeds of the Placing will be applied to general working capital purposes, including acceleration of IMC’s exploration and geological work on its spoils and tailings project in Avoca, Co. Wicklow, Ireland. The Directors note the gold price has recently surpassed $1,500 per troy ounce for the first time in over six years.  This is good news for IMC and, in particular, bodes well for its gold, spoils and tailings project in Avoca, Co. Wicklow.

Eamon P. O’Brien,
Executive Chairman,
Dublin, 20th August 2019

The Directors of IMC, after due and careful enquiry, accept responsibility for the contents of this announcement.
REGULATORY ANNOUNCEMENT ENDS.
Contact Details:
Kathryn Byrne: [phone]
IMC Exploration Group plc

Graham Atthill-Beck: [phone]/[phone] / [e-mail]  
Brinsley Holman: [phone] / [e-mail]    
Keith, Bayley, Rogers & Co. Limited

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