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Provider: Reuters Investment Profile
Provider: Edison Investment Research
Provider: GlobalData
Provider: GlobalData

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International Mining and Infrastructure Corp PLC Announces Conditional Placement of New Ordinary Shares and Warrants

Friday, 22 Nov 2013 02:00am EST 

International Mining and Infrastructure Corp PLC announced the conditional placing of new ordinary shares and warrants with new and existing shareholders raising gross proceeds of GBP 13.0 million. Pursuant to the placing, participants in the placing will receive one ordinary share and two warrants for a combined price of GBP 0.27 per ordinary share. The warrants are exercisable at any time for two years following issue at a price of GBP 0.32 per ordinary share. If all of the warrants issued under the placing were to be exercised, the gross proceeds arising would represent a further GBP 30.8 million. The warrants are unlisted. The placing is conditional, inter alia, upon the completion of the proposed acquisition of the entire issued share capital of Afferro Mining Inc announced by the Company in May 2013. The proceeds from the placing will be used to fund the general corporate development of the Company. Under the terms of the placing 43,520,059 shares and 87,040,118 warrants have been placed with new and existing investors with settlement due to take place shortly after the closing of the acquisition. 

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