NICOSIA, Cyprus, Aug. 20, 2012 /CNW Telbec/ - On 9th July 2012, EMED Mining Public Limited, the Europe-based minerals development and exploration company, ("EMED Mining" or the "Company") (TSX: EMD) announced that it had entered into agreements with cornerstone customer XGC including a US$5 million equity investment in the Company. EMED Mining is pleased to announce that the transaction has received approval from both the Toronto Stock Exchange and the Chinese National Development and Reform Committee.
With the satisfaction of these two material outstanding conditions to the subscription, the Company has allotted 32,247,662 new ordinary shares of 0.25 pence each in the Company ("Ordinary Shares") to XGC at a price of 10 pence per share. An application will be made to the London Stock Exchange for such new Ordinary Shares to be admitted to trading on AIM ("Admission") and Admission is expected to become effective on or about 28th August 2012.
Following Admission, EMED Mining will have 1,004,603,009 Ordinary Shares in issue and XGC will have a holding representing approximately 13.7% thereof.
The Ordinary Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any U.S. state securities laws and may not be offered or sold in the United States absent registration or an available exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. No securities commission has approved or disapproved the content of this press release.
SOURCE: EMED MINING PUBLIC LIMITED
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