17th May 2010 07:00
MERCATOR GOLD plc("Mercator" or "the Company")
AIM: MCRUS OTC: MTGDY
ISSUE OF EQUITY
Placing of 42.5 Million New Ordinary Shares at 1pto Raise £425,000
London 17 May 2010
Mercator Gold plc, the diversified mineral development company, is pleased to announce a further placing ("the Placing") of 42.5 million new ordinary shares of 0.1p each ("the Placing Shares") at a price of 1p per share to raise £425,000 before costs in order to satisfy institutional demand.
Mercator's co-broker Old Park Lane Capital plc acted for the Company in the Placing, which is conditional upon, inter alia, admission of the Placing Shares to trading on AIM.
Application has been made for the admission of the Placing Shares to AIM effective 21 May 2010, following which the Company will have 331,750,562 ordinary shares in issue. The Placing Shares will rank pari passu in all respects with the ordinary shares of the Company currently traded on AIM.
Use of Proceeds
The net proceeds of the Placing will enable the Company to continue implementing its stated strategy of adding, and where appropriate, realising value from its existing portfolio of assets whilst taking advantage of new opportunities as they arise.
For further information please contact:
| Mercator Gold plc | |||||||||
| Michael Silver, Chairman | Tel: +44 (0) 20 7929 1010 | ||||||||
| Patrick Harford, Managing Director | Tel: +1 646 239 9087 | ||||||||
| Email: [email protected] | |||||||||
| Website: www.mercatorgold.com | |||||||||
| Daniel Stewart & Company plc | |||||||||
| Oliver Rigby | Tel: + 44 (0) 20 7776 6550 | ||||||||
| Old Park Lane Capital plc | |||||||||
| Forbes Cutler | Tel: +44 (0) 20 7518 2603 | ||||||||
| Bankside Consultants Ltd | |||||||||
| Simon Rothschild/Oliver Winters | Tel: +44 (0) 20 7367 8888 | ||||||||
| Barry Kaplan Associates | |||||||||
| Larry Kaplan | Tel: +1 732 747 0702 |
Copyright Business Wire 2010
Related Shares:
ECR Minerals