All Star Minerals Plc - Issue of Equity, Loan Notes & Grant of Warrants PR Newswire

ALL STAR MINERALS PLC
(‘’All Star’’ or the Company)

Issue of Equity, Conversion of Loan Notes and Grant of Warrants

Fundraise

Further to the announcement made on 22 May 2020, the Company announces that it has raised a further £200,000 before expenses and issued 1,000,000,000 new ordinary shares at 0.02p per share (“Placing Price”).

A total of £280,000 before expenses has been raised by the Company since 22 May 2020.

In addition, a convertible loan note holder has agreed to convert £55,000 principal at the Placing Price into 275,000,000 new ordinary shares (“Loan Conversion”).

Following the Conversion, the Company no longer has any outstanding loan notes.

The Company is also issuing 34,000,000 new ordinary shares in relation to £34,000 of existing liabilities at a price of 0.1p per share (“Liability Conversion”).

As a result of the Placing, Loan Conversion and Liability Conversion, the Company has issued 1,309,000,000 new ordinary shares.

In relation to the Placing and Loan Conversion, the Company is to issue 837,500,000 warrants exercisable at 0.04p per share. The warrants expire on 31 December 2022.

The net proceeds of the Placing will be used for working capital purposes and potential project evaluation.

Total Voting Rights

Following the issue of shares in relation to the Placing, Loan Conversion and Liability Conversion, the Company now has ordinary shares in issue of 2,839,474,743.

The Directors of All Star are responsible for the contents of this announcement.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

ENQUIRIES:

All Star Minerals Plc
Tomas Nugent, Chairman
Via Cairn Financial

AQSE Corporate Adviser
Cairn Financial Advisers LLP
Liam Murray
020 7213 0880