TIDMJAY
RNS Number : 7166H
Bluejay Mining PLC
31 July 2023
31 July 2023
Metals One Plc
("Metals One")
Admission to Trading on AIM
&
First Day of Dealings
Bluejay Mining plc ("Bluejay" or "Company"), the AIM, FSE listed
and OTCQB traded exploration and development company with projects
in Greenland and Finland, would like to congratulate Metals One on
the successful commencement of trading on AIM, a market operated by
London Stock Exchange plc, at 8.00 a.m. today, under the ticker
'MET1'.
Following Metals One's admission to AIM, Bluejay, having
divested the Black Schist project to Metals One, will receive over
GBP4 million in cash and ordinary shares of Metals One ("Ordinary
Shares"), including deferred consideration and warrants, subject to
certain conditions being satisfied. Bluejay will own c. 29% of the
issued ordinary share capital of Metals One upon admission of
Metals One to the AIM market ("Admission").
Further details of the consideration to be received by Bluejay
are set out below:
-- 62,500,000 new Ordinary Shares will be issued to Bluejay on
Admission ("Bluejay Consideration Shares");
-- GBP150,000 cash will be payable within eighteen months and
one day of Admission. Should the Company elect not to make the cash
payment by the due date, Bluejay will be issued with 3,000,000 new
Ordinary Shares ("Bluejay Conversion Shares);
-- A further 20,000,000 new Ordinary Shares will be issued to
Bluejay at any time that the issue of such shares would not cause
Bluejay's interest in the voting rights of 29.99 per cent. or more
of the voting rights of the Company ("Bluejay Deferred
Consideration Shares");
-- A warrant over 7,500,000 new Ordinary Shares are to be issued
to Bluejay at an exercise price of GBP0.05 exercisable for a period
of 5 years from Admission ("Warrants");
Provided that the Company will not be required to issue and
allot the BlueJay Consideration Shares, the BlueJay Conversion
Shares and/or the BlueJay Deferred Consideration Shares to the
extent that such issue and allotment would result in Bluejay
acquiring an interest in the Ordinary Shares which (taken together
with Ordinary Shares in which persons acting in concert with
Bluejay are interested) carry 29.99 per cent. or more of the voting
rights of the Company.
The Bluejay Consideration Shares are subject to a restriction on
sale for a period of 12 months from Admission ("First Period") and
are also subject to an orderly market provision for a further
period of 12 months following the First Period ("Second Period").
Any other new Ordinary Shares issued to Bluejay, such as the
Bluejay Conversion Shares, the Bluejay Deferred Consideration
Shares or shares from the exercise of the Warrants will potentially
be subject to the aforementioned sale restriction or orderly market
period, depending on when such shares are issued.
Company's website at: www.metals-one.com.
About Metals One
Metals One is developing brownfield battery metals projects in
Finland (Black Schist Project) and Norway (Brownfield Råna
Project), with approximately GBP9 million of exploration carry
exposure through farm-in agreements. Metals One is aiming to help
meet the significant demand for battery metals by defining
resources on the doorstep of Europe's major electric vehicle OEMs
and battery manufacturers. Metals One's Black Schist Project in
Finland, totalling 706 square kilometres ('km(2) ') across three
licence areas, has an Inferred Resource of 28.1 million tonnes
nickel-zinc-cobalt-copper and is located adjacent to Talvivaara,
Europe's largest operating nickel mine. Metals One's fully carried
Brownfield Råna Project in Norway covers 18.14 km(2) across three
contiguous exploration licences, with significant opportunity for
brownfield exploration of the Råna intrusion, and proven potential
for massive sulphide nickel-cobalt-copper mineralisation.
For further information please visit
http://www.bluejaymining.com or contact:
Kevin Sheil Bluejay Mining plc enquiry@bluejaymining.com
---------------------------- --------------------------
SP Angel Corporate Finance
LLP
Ewan Leggat / Adam (Nominated Adviser and
Cowl Broker) +44 (0) 20 3470 0470
---------------------------- --------------------------
Tim Blythe / Megan BlytheRay
Ray / Said Izagaren (Media Contact) +44 (0) 20 7138 3205
---------------------------- --------------------------
About Bluejay Mining plc
Bluejay is listed on the London AIM market and Frankfurt Stock
Exchange and its shares also trade on the OTCQB Market in the US.
The Company holds multiple exploration and development projects in
Greenland and Finland, providing its shareholders both portfolio
and commodity diversification in high quality jurisdictions.
Bluejay's Dundas Ilmenite Project in northwest Greenland is
fully permitted and undergoing further optimisation studies. The
Company has agreed a Master Distribution Agreement with a major
Asian conglomerate for up-to 340k tonnes per annum ('tpa') of its
designed 440ktpa annual output.
Bluejay, through its wholly owned subsidiary Disko Exploration
Ltd., has signed a definitive Joint Venture Agreement with KoBold
Metals to guide exploration for new deposits rich in the critical
materials required for the green energy transition and electric
vehicles (The Disko-Nuussuaq nickel-copper-cobalt-PGE Project).
Disko Exploration Ltd holds two additional projects in Greenland -
the 692 sq km Kangerluarsuk zinc-lead- silver Project, where
historical work has recovered grades of up to 45.4% zinc, 12.4%
lead and 596 g/t silver; and the 920 sq km Thunderstone Project
which has the potential to host base metal and gold deposits.
In Finland, Bluejay currently holds three large scale
multi-metal projects through its wholly owned subsidiary FinnAust
Mining Finland Oy. The Company has identified multiple drill ready
targets at the Enonkoski nickel-copper-cobalt Project in East
Finland. Bluejay's drill ready Hammaslahti copper-zinc-gold-silver
Project hosts high-grade VMS mineralisation and extensions of
historical ore lodes have been proven. The drill ready Outokumpu
copper-nickel-cobalt-zinc-gold-silver Project is located in a
prolific geological belt that hosts several high-grade former
mines. Bluejay also owns a 29% holding in Metals One plc (recently
listed on the AIM Market in London).
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ('MAR') which has
been incorporated into UK law by the European Union (Withdrawal)
Act 2018.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCSDASWFEDSEEW
(END) Dow Jones Newswires
July 31, 2023 03:44 ET (07:44 GMT)
Bluejay Mining (LSE:JAY)
Historical Stock Chart
From Jun 2024 to Jul 2024
Bluejay Mining (LSE:JAY)
Historical Stock Chart
From Jul 2023 to Jul 2024