Regency Mines PLC: Update on Sudan Joint Venture
August 13, 2013 (Source: Regency Mines PLC) — Regency Mines plc, (“Regency” or “the Company”), the mining exploration and mineral investment company with interests in nickel and other minerals in Australia and Papua New Guinea is pleased to announce an update on its agromineral exploration in Sudan, a project where Regency has farm-in rights under an option agreement with International Mineral Resources (Agrominerals Sudan) Ltd (“IMRAS”).
Under the terms of the amended farm-in agreement announced on 16 August 2012, and following the revision to the concession area, as referred to in the announcement of 12 April 2013, the parties have agreed that sufficient progress has been made in fulfilment of the grant of additional license rights for a first payment to be made to IMRAS.
Accordingly, 10,000,000 new Regency shares have been issued to IMRAS at a deemed issue price of 0.52 pence per share.
Following the issue of Shares, the Company’s total issued ordinary share capital will be 1,116,049,883 ordinary shares. Application has been made to the London Stock Exchange for the new Shares and Fee Shares, which rank pari passu with the Company’s existing issued Shares, to be admitted to trading on AIM. Dealings are expected to commence at 8.00 a.m. on 16 August 2013.
The Company also announces that its broker’s name has been changed to SI Capital Limited
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