Marula Mining PLC - Issue of Equity - Nyorinyori and NyoriGreen
Announcement provided by
Marula Mining PLC · MARU12/04/2024 09:46
Marula Mining PLC
("Marula'' or the "Company")
12 April 2024
Nyorinyori and NyoriGreen Technical Milestones Achieved
Issue of Shares
Marula Mining (AQSE: MARU), an African focused mining and development company, is pleased to announce that following the completion of the initial exploration program, and the assay results confirming high-grade, coarse flake and broad graphite mineralisation, at the Nyorinyori Graphite Project ("Nyorinyori") and the NyoriGreen Graphite Project ("NyoriGreen") (together the "Projects") in
As announced on 17 February 2023, upon the completion of the initial exploration program, Marula is required to complete a share-based payment of
Following the results of the initial exploration work, the management of TMT and NML have been meeting in
Admission
Application has been made for the Milestone Shares to be admitted to trading on the Aquis Stock Exchange Growth Market on or around 18 April 2024 ("Admission") and will rank pari passu with the ordinary shares of the Company in issue.
Total voting rights
Following Admission, the Company's issued share capital will comprise 176,453,165 ordinary shares of 0.01p each, with each share carrying the right to one vote, therefore the total number of voting rights in the Company will be 176,453,165. This figure may be used by shareholders as the denominator for calculations by which they will determine if they are required to notify their interest in the Company, or a change to their interest in the Company, under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
Jason Brewer, Marula Mining PLC CEO, said:
"I would like to thank Takela Mining, NyoriGreen Mining and Geofields for their continued assistance and expert knowledge as we continue to develop the Projects. As agreed, upon the completion of the initial exploration work Marula will now issue the share-based payments to Takela Mining and to NyoriGreen Mining.
"With the milestone of initial exploration work completed at the Nyorinyori and NyoriGreen Graphite Projects, our belief in its high-grade graphite mineralisation potential, and our plan to develop the Projects as a medium-scale graphite project, has been confirmed. As such, we are now commencing with our plans for Phase 2 exploration work.
"We are excited to get started on the next phase of exploration work, which will look to evaluate the down-depth potential of the Projects and define the width and strike continuity of the high-grade graphite mineralised zone. We will continue to update shareholders as the exploration program develops."
The Directors of Marula are responsible for the contents of this announcement.
About Marula Mining
Marula Mining (AQSE: MARU) is an African focused battery metals investment and exploration company and has interests in several high value mine projects in
Marula's strategy is to identify and invest in advanced and high-value mining projects throughout East, Central and
For enquiries contact:
Marula Mining PLC Jason Brewer, Chief Executive Officer
Faith Kinyanjui Mumbi Investor Relations |
Email : jason@marulamining.com
Email : info@marulamining.com
|
AQSE Corporate Adviser Cairn Financial Advisers LLP, Liam Murray / Ludovico Lazzaretti |
+44 (0)20 7213 0880 |
Broker Peterhouse Capital Limited, |
+44 (0)20 7469 0930
|
Financial PR and IR BlytheRay Tim Blythe / Megan Ray / Said Izagaren |
+44 (0)20 7138 3204
|
Caution:
Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.
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