TSX-V EXCHANGE APPROVAL AND CLOSING OF PLACING
December 02 2010 - 5:05AM
UK Regulatory
TIDMAAAM
RNS Number : 2498X
African Aura Mining Inc.
02 December 2010
THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR PUBLICATION,
RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES OR ANY
OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE
UNLAWFUL
2 December 2010
TSX-V: AUR
AIM: AAAM
African Aura Mining Inc.
TSX VENTURE EXCHANGE APPROVAL AND CLOSING OF PLACING
2 December 2010, African Aura Mining Inc. ("African Aura" or the "Company")the
TSX-V (AUR) and AIM (AAAM) listed exploration and development company with
divisions focused on iron ore and gold projects in sub-Saharan Africa, is
pleased to announce that, further to the Company's news release dated 26
November 2010, the Company has received TSX Venture Exchange approval for and
closed its placement of 13,515,797 common shares in the capital of the Company
("Common Shares") at 150 pence per share, for aggregate gross proceeds of
approximately GBP20.3 million (c. US$32.0 million).
In consideration for its services as underwriter in connection with the
placement, the Company has agreed to pay Evolution Securities Limited a cash
commission of GBP857,034.
Certain of the shares issued in the placement, being those placed to insiders of
the Company, are subject to a hold period and may not be traded in Canada until
3 April 2011, except as permitted by applicable Canadian securities laws and the
TSX Venture Exchange.
Restricted Jurisdiction
The new Common Shares have not been, and will not be, registered under the
United States Securities Act of 1933, as amended (the "Securities Act"), and,
may not be offered, sold or delivered, directly or indirectly, in the United
States or to or for the account or benefit of any U.S. person unless the
securities are registered under the Securities Act or an exemption from the
registration requirements of the Securities Act is available.
About African Aura Mining Inc.
African Aura is an established exploration and development company listed on the
TSX-V (AUR) and London's AIM (AAAM). The Company operates two divisions, namely:
iron ore and gold:
- The iron ore division includes its 38.5% interest in the Putu iron ore
project in Liberia, which is moving through pre-feasibility managed by joint
venture partner Severstal Resources (the mining division of Moscow listed OAO
Severstal). In September 2010 Putu was granted a 25 year renewable Mineral
Development Agreement by the Government of Liberia. The division also includes a
100% interest in the Nkout iron ore project and surrounding iron targets in
Cameroon which is subject to a resource definition drilling programme.
- The gold division includes the multi million ounce potential New
Liberty greenstone gold deposit, which is being advanced through a bankable
feasibility study, and the proximal Ndablama, Weaju, Silver Hills and Gondoja
gold projects all within the Company's Bea Mountain 25 year renewable Mineral
Development Agreement.
In addition, the Company presently has a 22% interest in AIM-listed diamond
producer Stellar Diamonds Plc (AIM: STEL, www.stellar-diamonds.com).
The Company has a highly motivated and experienced team with a track record
of discovering mines and taking projects through development and into
production. As a pioneer, African Aura has attracted some excellent strategic
partners and shareholders, always with the objective of preserving or enhancing
shareholder value. For further information on the Company you are invited to
visit its website at www.african-aura.com, or SEDAR's website at www.sedar.com.
For further information, please contact:
+---------------------------------+---------------------------------+
| African Aura Mining Inc. | Tel: +44 (0) 20 7257 2930 |
| Luis da Silva, President & CEO | |
| | |
+---------------------------------+---------------------------------+
| Evolution Securities Limited | Tel: +44 (0) 20 7071 4300 |
| Simon Edwards / Tim Redfern | |
| | |
+---------------------------------+---------------------------------+
| Pelham Bell Pottinger | Tel: +44 (0) 20 7861 3232 |
| Charles Vivian / James | |
| MacFarlane | |
| | |
+---------------------------------+---------------------------------+
NO REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE CONTENT OF THIS
ANNOUNCEMENT.
This Announcement has been issued by and is the sole responsibility of the
Company. No representation or warranty, express or implied, is or will be made
as to, or in relation to, and no responsibility or liability is or will be
accepted by Evolution or by any of its respective affiliates or agents as to or
in relation to, the accuracy or completeness of this Announcement or any other
written or oral information made available to or publicly available to any
interested party or its advisers, and any liability therefore is expressly
disclaimed.
Evolution is acting as Global Co-ordinator and Sole Bookrunner in connection
with the Placing. Evolution, which is authorised and regulated by the Financial
Services Authority, is acting for the Company in connection with the Placing and
will not be responsible to anyone other than the Company for providing the
protections afforded to the clients of Evolution nor for providing advice in
relation to the Placing or any other matter referred to herein.
The distribution of this Announcement and the Placing of the Placing Shares in
certain jurisdictions may be restricted by law. No action has been taken by the
Company or Evolution that would permit an offering of such shares or possession
or distribution of this Announcement or any other offering or publicity material
relating to such shares in any jurisdiction where action for that purpose is
required. Persons into whose possession this announcement comes are required by
the Company and Evolution to inform themselves about, and to observe, such
restrictions.
The information in this Announcement shall not constitute an offer to sell or
the solicitation of an offer to buy, nor shall there be any sale of, the
securities referred to herein in any jurisdiction in which such offer,
solicitation or sale would require preparation of any prospectus or other offer
documentation, or be unlawful prior to registration, exemption from registration
or qualification under the securities laws of any such jurisdiction.
No public offer of securities of the Company is being made in the United
Kingdom, the United States, Canada or elsewhere. The information in this
Announcement does not constitute or form a part of any offer or solicitation to
purchase or subscribe for securities in the United States. The securities
mentioned herein have not been, and will not be, registered under the United
States Securities Act of 1933 (the "Securities Act") nor the security laws of
any state or other jurisdiction of the United States. The securities mentioned
herein may not be offered or sold in the United States except pursuant to
Regulation S under the Securities Act or another exemption from, or transaction
not subject to, the registration requirements of the Securities Act. There will
be no public offer of securities in the United States.
The information in this Announcement may not be forwarded or distributed to any
other person and may not be reproduced in any manner whatsoever. Any forwarding,
distribution, reproduction, or disclosure of this information in whole or in
part is unauthorised. Failure to comply with this directive may result in a
violation of the Securities Act or the applicable laws of other jurisdictions.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
Ends
This information is provided by RNS
The company news service from the London Stock Exchange
END
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