LONDON, Feb. 7, 2017 /CNW/ - As required by National Instrument 62-103 of the Canadian Securities Administrators, CE Mining II Rambler Limited ("CEII Rambler") announces that it has acquired an additional 135,000,000 ordinary shares ("Ordinary Shares") of Rambler Metals and Mining plc ("Rambler") pursuant to the exercise of Ordinary Share purchase warrants ("Warrants"). The Warrants were exercised at a price of five pence per share for an aggregate exercise price of £6,750,000. Further information on the exercise of the Warrants is set out in Rambler's press release of February 6, 2017.
Prior to the exercise of the Warrants, CEII Rambler beneficially owned 261,363,636 Ordinary Shares, representing approximately 63% of the outstanding Ordinary Shares. After giving effect to the exercise of the Warrants, CEII Rambler beneficially owns 396,363,636 Ordinary Shares, representing approximately 72.2% of the outstanding Ordinary Shares and 65,000,000 Warrants.
CEII Rambler exercised the Warrants for investment purposes and to provide funding to Rambler to support its ongoing Phase II expansion plan and further evaluation of the potential for a Phase II expansion. CEII Rambler may, from time to time, subject to market conditions and in compliance with applicable securities laws, make additional investments in, or dispositions of, securities of Rambler, including additional purchases or dispositions of Ordinary Shares or securities convertible into, or exchangeable for, Ordinary Shares and additional acquisitions of Ordinary Shares pursuant to the exercise of Warrants.
The head office of Rambler is located at:
19 Cedar Road
CEII Rambler's address is:
Mourant Ozannes Corporate Services (Cayman) Limited
94 Solaris Avenue
Camana Bay, PO Box 1348
Grand Cayman KY1-1108
CEII Rambler is incorporated in the Cayman Islands and was formed for the purpose of holding Ordinary Shares and Warrants of Rambler. CE Mining Fund II L.P., the parent of CEII Rambler, is a specialized investment fund, established in 2015 to invest in hard asset mining and mineral projects.
SOURCE CE Mining II Rambler Limited
For further information: For further information or to obtain a copy of the early warning report, please contact: Michael Partridge, Goodmans LLP, 416-979-2211