Caledonia Mining Corporation Plc: Completion of ATM Fund-Raising for Solar Project, Block Admission Cancellation and Block Admission Return (NYSE AMERICAN: CMCL; AIM: CMCL)
(PresseBox) - Caledonia Mining Corporation Plc (?Caledonia? or the ?Company? - https://www.commodity-tv.com/play/caledonia-mining-virtual-roadshow-investor-presentation-and-qa/) today announces that, further to its announcement on July 24, 2020 relating to a block admission application and an "At the Market" or "ATM" sales agreement with Cantor Fitzgerald & Co (the ?ATM Sales Agreement?), the Company has now raised US$13m pursuant to the ATM Sales Agreement through the sale and issue of 597,963 shares in the Company (the "ATM Shares").
Following issue of the ATM Shares, the Company has a total number of shares in issue of 12,118,823 common shares of no par value each.
As disclosed in the announcement on July 24, 2020, application was made to AIM for a block admission in respect of up to 800,000 new depositary interests representing the same number of shares in the share capital of the Company which will rank pari passu with the existing shares in issue.
Given that the Company has now raised the maximum amount of funds sought under the ATM Sales Agreement through the issue of the ATM Shares, the Company has cancelled the remaining portion of the block admission (202,037 depositary interests) effective as at September 7, 2020, representing the surplus shares that are not required to be sold and issued under the ATM Sales Agreement.
As previously mentioned, Caledonia expects to use the amount of net proceeds from the sales for investment in the construction of a solar power plant to supply electricity to Blanket Mine in Zimbabwe.
In accordance with AIM Rule 29 and Schedule 6 of the AIM Rules for Companies and in full satisfaction of the Company?s obligation to make announcements of the utilisation of the block admission, the Company makes the following notification regarding its block admission facility:
Name of company
Caledonia Mining Corporation Plc
Name of the scheme
At the Market Sales Agreement
Period of return
From July 27, 2020 to September 7, 2020
Number and class of securities not issued under scheme
202,037 common shares of no par value each and an equal number of depositary interests
Number of securities issued under scheme during period
597,963 common shares of no par value each
Balance under the scheme of securities not yet issued at the end of the period
202,037 common shares of no par value each and an equal number of depositary interests
Number and class of securities originally admitted and the date of admission
800,000 depositary interests in common shares of no par value ? July 27, 2020
Note:
Cautionary Note Concerning Forward-Looking Information
Information and statements contained in this news release that are not historical facts are ?forward-looking information? within the meaning of applicable securities legislation that involve risks and uncertainties relating, but not limited to Caledonia?s current expectations, intentions, plans, and beliefs.ions, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Examples of forward-looking information in this news release include: production guidance, estimates of future/targeted production rates, and our plans and timing regarding further explorationions regarding the representativeness of mineralization being inaccurate, success of planned metallurgical test-work, capital and operating costs varying significantly from estimates, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and other factors.
Security holders, potential security holders and other prospective investors should be aware that these statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements.thiness or financial condition of suppliers, refiners and other parties with whom the Company does business; inadequate insurance, or inability to obtain insurance, to cover these risks and hazards, employee relations; relationships with and claims by local communities and indigenous populations; political risk; availability and increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development, including the risks of obtaining or maintaining necessary licenses and permits, diminishing quantities or grades of mineral reserves as mining occurs; global financial condition, the actual results of current exploration activities, changes to conclusions of economic evaluations, and changes in project parameters to deal with unanticipated economic or other factors, risks of increased capital and operating costs, environmental, safety or regulatory risks, expropriation, the Company?s title to properties including ownership thereof, increased competition in the mining industry for properties, equipment, qualified personnel and their costs, risks relating to the uncertainty of timing of events including targeted production rate increase antential security holders and other prospective investors are cautioned not to place undue reliance on forward-looking information.update publicly or otherwise revise any forward-looking information whether as a result of new information, future events or other such factors which affect this information, except as required by law.
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Datum: 04.09.2020 - 03:08 Uhr
Sprache: Deutsch
News-ID 1560537
Anzahl Zeichen: 7806
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