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Eurasia Mining plc: Private Placement of US$20m for Rosgeo JV
Home / Client News / Eurasia Mining plc: Private Placement of US$20m for Rosgeo JV

Eurasia Mining Plc (“Eurasia” or the “Company”), the palladium, platinum, rhodium, iridium and gold producing company, is pleased to announce that it has entered into a securities purchase agreement for a private placement of 53,306,751 new ordinary shares of the Company (the “Placing Shares”) and warrants (the “Warrants”) to purchase up to 53,306,751 ordinary shares (the “Warrant Shares”) to a single institutional investor at the market price of 26.5p per ordinary share and associated Warrant, for gross proceeds of £14,126,289, or approximately US$20m (not including any gross proceeds from the exercise of the Warrants), before deducting placement agent’s fees and offering expenses. 

The Warrants have an exercise price of 26.5p per ordinary share and may be exercised at any time upon issuance and prior to the 3-year anniversary of the issuance date. 

H.C. Wainwright & Co. is acting as the exclusive placement agent in the United States for this private placement.

The net proceeds of the placing are intended to be used primarily to finance the joint venture with Rosgeo (“Rosgeo JV”), as announced via RNS dated 26 March 2021. The Directors have decided to limit the financing to £14,126,289 to keep shareholder dilution to a minimum and to focus primarily on advancing certain Rosgeo JV projects to production via EPC and financing contracts with minimum equity injections.


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