30th Apr 2008 07:52
Kefi Minerals plc30 April 2008 KEFI Minerals plc ("KEFI" or the "Company") PLACING The Company is pleased to announce that, subject only to Admission, it hasraised £624,367 by way of a placing by WH Ireland Limited of 20,812,242 newordinary shares of 1p each ("Placing Shares") at 3p per share together with theissue of 10,406,121 warrants to subscribe for new ordinary shares of 1p each at5 pence per share ("Warrant") on the basis of one Warrant for every two PlacingShares ("the Placing"). Each Warrant entitles each investor to subscribe for one new ordinary share at asubscription price of 5 pence per share exercisable for a period of 2 years fromthe date of Admission. The purpose of this Placing is to progress the current work in progress at thevarious sites controlled by the Company. This includes second and third phase,deeper (100-200m vertical) drill testing at the Derinin Tepe project with a viewto resource definition drilling in due course. It also includes the completionof geophysical IP surveys and reverse circulation drilling at the YanikliProspect to define identified Porphyry Cu-Au targets. In addition, the Companyintends to map, channel chip sample, and soil sample current projects andendeavour to advance one or two other projects to drill testing. Application will be made for the Placing Shares to be admitted to trading on AIMand dealings in the Placing Shares is expected to commence on 7 May 2008.Following the issue of the Placing Shares the total number of shares in issue inthe Company will be 129,645,576 ordinary shares of 1p each. No application is being made for the Warrants to be admitted to trading on AIM. For further information contact: Jeffrey Rayner, KEFI Minerals plc Tel: +90 53 6963 0111 David Youngman, W.H. Ireland Ltd. Tel: +44 (0) 161 832 6644 Nick Rome, Bishopsgate Communications Tel: +44 (0) 207 562 3350 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Kefi Gold & Copper