TIDMAUE
RNS Number : 3787E
Aureus Mining Inc.
15 July 2016
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR
PUBLICATION, RELEASE OR DISSEMINATION, DIRECTLY OR INDIRECTLY, IN
WHOLE OR IN PART, IN THE UNITED STATES, AUSTRALIA, JAPAN, THE
REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH IT
WOULD BE UNLAWFUL TO DO SO. ANY FAILURE TO COMPLY WITH THIS
RESTRICTION MAY CONSTITUTE A VIOLATION OF THE SECURITIES LAWS OF
SUCH JURISDICTIONS.
15 July 2016
Aureus Mining Inc.
TSX : AUE
AIM : AUE
CLOSING OF FINAL TRANCHE OF US$30 MILLION EQUITY FINANCING AND
BOARD CHANGES
Aureus Mining Inc. (TSX: AUE / AIM: AUE) ("Aureus" or the
"Company") is pleased to announce that it has closed Tranche 2 of
the equity financing (the "Offering") with MNG Gold Jersey Limited
("MNG Gold"), as previously announced in the Company's news release
dated 15 June 2016, pursuant to which the Company has issued
331,111,209 new common shares in the Company ("Shares") at a price
of 3.21p per Share (US$0.045302) to MNG Gold, raising gross
proceeds of US$15.0 million.
This follows the clearance by the Toronto Stock Exchange ("TSX")
of the required personal information forms and receipt of the
required AIM approvals as detailed in the Company's news release
dated 21 June 2016. Further, the promissory note in the aggregate
principal amount of US$12,303,006 ("the Promissory Note") issued by
the Company to MNG Gold pursuant to Tranche 1 of the Offering
automatically converted into 271,577,546 Shares (also at a price of
3.21p per Share) concurrently with the closing of Tranche 2 of the
Offering. An aggregate of 662,222,429 Shares have been issued
pursuant to the two tranches of the Offering and the automatic
conversion of the Promissory Note.
Application has been made for the 602,688,755 new Shares to be
admitted to trading on AIM with admission to take place on or
around 19 July at 8.00am (London time). The new Shares will rank
pari passu with the Company's existing Shares. Following the issue
of the new Shares the Company's issued share capital will comprise
1,024,039,001 Shares. Accordingly, the figure of 1,024,039,001 may
be used by shareholders as the denominator for the calculations by
which they will determine if they are required to notify their
interest in, or a change to their interest in the Company under the
FCA's Disclosure and Transparency Rules.
Board changes
As previously announced, following the completion of the
transaction, the following changes to the Board and management of
the Company have become effective:
-- CEO - David Reading has resigned his position of Chief
Executive Officer and is replaced by Serhan Umurhan, General
Manager of MNG Gold;
-- CFO - Paul Thomson has resigned his position as Chief
Financial Officer. He is replaced by Geoff Eyre, CFO of MNG Gold;
and
-- Board of Directors - Mehmet Nazif Gűnal has joined the Board
as Non-Executive Chairman. Serhan Umurhan and Geoff Eyre have also
joined the board as Directors. David Reading, Karin Ireton and
Adrian Reynolds have resigned as Directors of the Company, whilst
David Netherway, Loudon Owen and Jean-Guy Martin will continue as
Non-Executive Directors of the Company.
In relation to the appointment of Mehmet Nazif Gűnal, Serhan
Umurhan and Geoff Eyre to the Board of Directors, Aureus confirms
that there is nothing further to disclose in relation to their
appointment under AIM Rule 17 or Schedule Two, paragraph (g) of the
AIM Rules for Companies, save as disclosed in this
announcement:
Full name: Mehmet Nazif Gűnal
Age: 68 years old
Current Animar Eglence ve Spor Tesisleri i--letme
directorships: Turizm Ticaret A.$., Antma in--aat,
Sanayi ve Ticaret A.$., Arhavi Elektrik
Oretimi ve Tic. A.$, Atmaca Mining Services
Limited, Aziz - Mapa Corporation, Balsu
Elektrik Oretimi ve Ticaret A.$., Berkmen
Gaynmenkul Tic. A.$., Berkmen Limited,
Bgt Elektrik Oretimi ve Ticaret A.$.,
Burkina Mining Company SA, Company Burkina
Faso, camyurt Otelcilik ve Turizm A.$.,
Can Investments Limited Dubai, Cayman
Burkina Mine Limited, Cengiz Mapa zaltm
Adi Ortakhg, Cmbe - Cengiz - Limak -
Mapa - Kolin i-- Ortakhg, CSR - MNG
Rayl Sistem Aralan Sanayi ve Ticaret,
Doruk Limited, Company United Arab Emirates,
Elazg Baskil Madencilik A.$., Company
Turkey, Epidote Fze Limited, ER Burkina
Exploration Sari, Esma-- Arabistan,
Esmas Abu Dhabi, Etruscan Resources
Burkina Faso SA, FC Wil 1900 AG, Gi.inal
Dubai Jumeirah Santiyesi, Gi.inal Elektrik
Oretimi ve Ticaret A.$., Gi.inal in--aat
Ticaret ve Sanayi A.$., Gi.inal in--aat
Ticaret ve Sanayi A.$. Antalya Subesi
(Topkap Pa), Guinal - Mapa Adi Ortakligi,
Gulf Trading & Investment Limited, Gunal
- Ferpa Adi Ortakhgi, Gunal - Mapa Dubai
JV (Jumeirah-Seyh Zayed), Gunal Abu
Dabi Ofis, Gunal Construction Trading
& Industry Co. (Dubai Br) Main Offi,
iGA Havaliman i letmesi A.$., iGA Havalimanlan
in--aatl Adi Ortakhg Ticari i--letmesi,
Jme Trading & Investments Limited, Kiana
Sondaj Sanayi ve Ticaret A.$., Kle Kle
Mining Inc., Kolin Cengiz Limak Mapa
Adi Ortakhg, Kuyab Kundu Turizm Yatnme
lan A.$., arimar Fze Limited, Makon
Makina ve Konstructksiyon Sanayi Ticaret
A.S., Mapa - Cengiz Adi Ortaklı
ı, Mapa Azerbaycan Havalimanı
antiyeleri, Mapa Azerbaycan Naftalan
Otel In aat, Mapa Cengiz Jv Bulgaristan,
Mapa Cezayir Cheliff (Baraj) antiyesi,
Mapa Cezayir Jijel Otoyolu (Djen Djen
- E Eulma), Mapa Cezayir Khemis Milliana
Otoyolu, Mapa Cezayir Mostagenem Su
Arıtma Istasyonu, Mapa Cezayir
Pk Tünel, Mapa Cezayir Setif Isale
Hattı antiyesi, Mapa Cezayir Stadyum
(Tizi Ouzou), Mapa Cezayir Tlemcen/
Akkid Abbas Demiryolu, Mapa Günal
Construction and Trade LLC - Katar,
Mapa Günal Construction Co, Foreign
Llc (Rta) - Dubai Jv, Mapa Günal
Construction Co. Foreign Llc (Clinic)
- SaudiArabia, Mapa Günal Oman
LLC, Mapa Gürcistan Ofis, Mapa
İn aat Abu Dabi Bae, Mapa In aat
ve Ticaret A. ,(Suudi Arabistan ubesi),Mapa
İn aat ve Ticaret A. ., Mapa İn
aat ve Ticaret A. . Antalya ubesi (Kremlin
Palace Ott), Mapa In aat ve Ticaret
A. . Bodrum ubesi (Wow Bodrum), Mapa
In aat ve Ticaret A. . Istanbul ubesi
(Wow istanbul Air), Mapa In aat ve Ticaret
A. .(Dubai ubesi), Mapa Libya Ofis,
Mapa Limak MNG Co. (Hufar Al Batın),
Mapa Limak MNG Jv (Ras Al Zaur) Mlm,
Mcag Limited, Mceg Limited, Mdg Limited,
Mega Au Turizm A. ., Mehmet Limited,
Mehmet Nazif Günal In aat Taahhüt
Ithalat Ihracat ve Mümess, Mepa
Maden Endüstrive Pazarlama A. .,
Merve Limited, Metropol Gulf Landscaping
And Construction L.L.C, Mng Airlines
Gmbh, MNG Baraj In aat ve Sanayi A.
., MNG Dekim Dekorasyon, Iç Mimarlık,
Mobilya, Tasarım, Taahh, MNG Esma
Elektro Sistemler Mühendislik Sanayi
ve Ticaret A., MNG Esmosh Electrosystems
Engıneerıng (Dubai Branch),
MNG Faktoring A. ., MNG Gold Burkina
Sari, MNG Gold Exploration Inc., MNG
Gold Jersey, MNG Gold Liberia, MNG Havayollan
ve Ta macjhk A .$., MNG Holding A.$.,
MNG Jet Havachk A.'$., MNG Kargo Kbns
ubesi, MNG Kargo Yurt ive Yurt D1 1
Ta machk A.'$., MNG Mipa MUmessillik
MU avirlik ithalat ihracat Pazarlama
Sa, MNG Orko Madencilik A.$., MNG Radyo
Tv ve Medya Hizmetleri A.'$., MNG Sanal
OrUn Pazarlama Sanayi ve D1 Ticaret
A.$., MNG Sigorta AraCJhk Hizmetleri
A.'$., MNG Sulama In aat ve Sanayi A.$.,
MNG Targem Ara trma Teknoloji Geli tirme
MU avirlik Proje in, MNG Tesisat Klima
Havalandrma Istma Sanayi ve Ticaret
A.'$., MNG Turizm ve Ticaret A.'$, MNG
Zemta Soil & Foundation Engmeering Construction
Co In, MNG Zemta Zemin ve Temel MUhendisligi
in aat A.$., Murathan Limited, Nazif
Investments Limited, Palm Point, Pombero
Limited, Rivercess Mining Inc., Sari
Mapa Algerie Construction et Commerce,
Sportscom AG, Techtrans Limited, Wow
Investments Limited, Wow Real Estate
Development, Zbg Investments Limited,
Zemtas Abu Dhabi, Zeynep Limited, Zincirli
Elektrik Oretimi ve Ticaret A.$., Zwedru
Mining Inc.
Directorships Ben Turizm Vet|Caret A. ., Hit Havayollari
in the lkram Tesisleri A. ., Kizilagaç
last 5 Enternasyonal otelciı-ix rurizıııı
years: in mt A. ., l |K Elektrik Üretimi
vr rlcanrı a. ., MNG Gaz Dagitim
VE T|Careta. ., MNG Haber Ajans| Ve
T|Caret A. ., MNG Kompozit Üret|M
Yap| Ve T|Caret A. ., MNG Net A. .,
MNG Savsan Savunma Sanayi, Ticaret Mümessill|K
VE Mü av|RLiK A. ., MNG Uydu Telev|Zyon
Yay|Nclilgi A. ., Murathan Turizm Ve
Ticaret A. ., Sedef Elektrik üretimi
Vet|Caret A. ., Sema Elektr|K üretimi
Ve T|Caret A. .
Number Mr Gűnal holds no shares in his
of Ordinary own name, however he is the beneficial
Shares owner of MNG Gold Jersey Limited which
held in following completion will own 662,222,429
the Company: Shares, representing approximately 55%
of the issued Shares of the Company
Full name: Serhan Umurhan
Age: 43 years old
Current Atmaca Mining Services Limited (fka
directorships: Amlib Jersey Limited), Caymen Burkina
Mines Limited, ER Burkina Exploration
SARL, Etruscan Resources Burkina Faso
SA, Jersey Netania Mining Limited, Kle
Kle Mining Inc., MNG Gold Burkina SARL,
MNG Gold Exploration Limited, MNG Gold
Jersey Limited, MNG Gold Liberia Inc.,
MNG Orko Madencilik A , Rivercess Mining
Inc., Zwedru Mining Inc.
Directorships None to disclose.
in the
last 5
years:
Number Nil*
of Ordinary
Shares
held in
the Company:
Full name: Geoffrey Peter Eyre
Age: 42 years old
Current Armada Minerals Limited, Atmaca Mining
directorships: Services Limited, Caymen Burkina Mines
Limited, Environminerals East Africa
Limited, Explora One Limited, GPE Consulting
Limited, Jersey Netania Mining Limited,
MNG Gold Exploration Limited, MNG Gold
Jersey Limited, NurtureEx B.V., NurtureEx
Services Limited.
Directorships 51 Buckland Crescent (Freehold) Limited,
in the Amlib Drilling Services (Liberia) Inc.
last 5 (fka Amlib North (Liberia), Amlib Holdings
years: Plc, Amlib Services Limited, Amlib United
Minerals Inc., Amlib United Minerals
Jersey, Kokoya Iron Inc, Kokoya Iron
Limited, Kokoya Jersey Limited, Kokoya
Mining Inc (fka Amlib Kokoya Inc).
Number 10,000 shares held in own name*
of Ordinary
Shares
held in
the Company:
*Note: Mr Umurhan and Mr Eyre are both directors of MNG Gold
Jersey Limited which following admission will hold 662,222,429
Shares representing 55% of the Company's issued and outstanding
Shares.
This press release is for informational purposes only and does
not constitute an offer to sell or a solicitation of an offer to
buy any of the securities in the United States or any other
jurisdiction in which such an offer or solicitation is unlawful.
The securities have not been and will not be registered under the
United States Securities Act of 1933, as amended, (the "U.S.
Securities Act") or any state securities laws and may not be
offered or sold within the United States except pursuant to an
exemption from, or in a transaction not subject to, the
registration requirements of the U.S. Securities Act and applicable
state laws. No public offering of securities will be made in the
United States.
Contact Information
Aureus Mining Inc. Buchanan
David Netherway / Geoff Bobby Morse / Anna Michniewicz
Eyre Tel: +44(0) 20 7466 5000
Tel: +44(0) 20 7010 7690
-------------------------- -------------------------------
Numis Securities Limited RBC Capital Markets
(Aureus Nominated Adviser (Aureus Financial Advisor)
and Broker) Richard Horrocks-Taylor
James Black / John Prior / Richard Hughes
/ Paul Gillam Tel: +44(0) 20 7653 4000
Tel: +44(0) 20 7260 1000
-------------------------- -------------------------------
Forward Looking Statements
Certain information contained in this Announcement constitutes
forward looking information. This information may relate to future
events or the Company's future performance. All information other
than information of historical fact is forward looking information.
The use of any of the words "anticipate", "plan", "continue",
"estimate", "expect", "may", "will", "project", "should",
"believe", "predict" and "potential" and similar expressions are
intended to identify forward looking information. This information
involves known and unknown risks, uncertainties and other factors
that may cause actual results or events to differ materially from
those anticipated in such forward looking information. No assurance
can be given that this information will prove to be correct and
such forward looking information included in this Announcement
should not be unduly relied upon. This information speaks only as
of the date of this Announcement. Such forward looking information
includes, among other things, statements or information relating
to: the Admission and commencement of dealing in the Shares.
With respect to forward looking information contained in this
Announcement, assumptions have been made regarding, among other
things: the approval of the TSX in connection with the Offering,
and the Admission of the Shares on AIM.
Actual results could differ materially from those anticipated in
the forward looking information contained in this news release as a
result of the risk factors, including: the risk that the waiver and
standstill agreement will terminate; risks normally incidental to
exploration and development of mineral properties; the inability to
obtain required waivers and amendments from the Company's creditors
in respect of its debt repayment obligations and consequential
risks of default thereon; risks related to operating in West
Africa; health risks associated with the mining workforce in West
Africa; risks related to the Company's title to its mineral
properties; adverse changes in commodity prices; risks related to
current global financial conditions; the inability of the Company
to obtain, maintain, renew and/or extend required licences,
permits, authorizations and/or approvals from the appropriate
regulatory authorities and other risks relating to the legal and
regulatory frameworks in Liberia, including adverse changes in
applicable laws; competitive conditions in the mineral exploration
and mining industry; risks related to obtaining insurance or
adequate levels of insurance for the Company's operations; risks
related to environmental regulations; uncertainties in the
interpretation of results from drilling; risks related to the legal
systems in Liberia; risks related to the tax residency of the
Company; changes in exchange and interest rates; risks related to
the activities of artisanal miners; actions of third parties that
the Company is reliant upon; lack of availability at a reasonable
cost or at all, of plants, equipment or labour, including required
equipment, explosives and other necessary material not being
delivered in the expected time frame, or at all; the inability to
attract and retain key management and personnel; political risks;
and future unforeseen liabilities and other factors.
The forward looking information included in this Announcement is
expressly qualified by this cautionary statement and is made as of
the date of this Announcement. The Company does not undertake any
obligation to publicly update or revise any forward looking
information except as required by applicable securities laws.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCGGUWAMUPQGAA
(END) Dow Jones Newswires
July 15, 2016 13:30 ET (17:30 GMT)
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