9 January 2015
AMUR MINERALS CORPORATION
(AIM: AMC)
DIRECTOR AND EXECUTIVE SHARE PURCHASE
Amur Minerals Corporation ("Amur" or the "Company"), the nickel-copper exploration and development company focused on base metal projects located in the Far East of Russia, announces that it has issued 3,035,955 new ordinary shares of no par value ('New Shares') in lieu of remuneration and professional service fees. The Board of Directors, Executive Staff and other service providers have opted to receive New Shares in lieu of compensation. By issuance of the New Shares, Amur continues to conserve its funds whilst awaiting the decision on the award of its "Detailed Exploration and Production Licence" for its Kun-Manie nickel copper sulphide project.
The New Shares were issued at 10.25p per share, which was the closing mid-market price as at 7 January 2015. The Board members have been issued with a total of 682,422 New Shares, with the remainder being issued to professional staff and certain service providers.
Director |
Number of New Shares issued |
Total Interest in Ordinary Shares following the issue of New Shares |
Total interest in Ordinary Shares as a % of enlarged issued share capital |
|
|
|
Robin Young - CEO |
336,165 |
2,107,501 |
0.49 |
Robert Schafer - Chairman |
187,627 |
438,249 |
0.10 |
Brian Savage - Non Executive Member |
158,630 |
340,013 |
0.08 |
TOTAL |
682,422 |
2,885,763 |
0.67 |
The New Shares will rank pari passu in all respects with the existing Ordinary Shares of the Company including the right to receive any dividend or other distribution thereafter declared, made or paid.. Application has been made to the London Stock Exchange for the New Shares to be admitted to trading on AIM ('Admission'). It is expected that Admission will become effective and that dealings in the New Shares will commence on 15 January 2015.
As a result of the issue of the New Shares, the Company's issued share capital now consists of 434,187,289 ordinary shares of no par value.
Robin Young, CEO of Amur Minerals Corporation, commented:
"We are pleased to report to our shareholders that the Board and Amur's executive management have been able to increase their holdings in the Company reflecting our confidence in the project and anticipated success in moving Kun-Manie forward. The timing of this allotment of shares is related to our not being in possession of any disclosable price sensitive information and not being within a close period in accordance with the AIM Rules for Companies. Of course one of the larger share value generators is our anticipated acquisition of the "Detailed Exploration and Production Licence". With the Russian holidays, we were able to implement the acquisition of shares."
Enquiries:
Company Amur Minerals Corp. |
Nomad and Broker SP Angel Corporate Finance LLP |
Public Relations Yellow Jersey |
Robin Young CEO |
Ewan Leggat Katy Birkin |
Dominic Barretto Kelsey Traynor |
+44 (0) 7981 126 818 |
+44 (0) 20 3470 0470 |
+44 (0) 77 6853 7739 |
Notes to Editors
The information contained in this announcement has been reviewed and approved by the CEO of Amur, Robin Young. Mr. Young is a Geological Engineer (cum laude) and is a Qualified Professional Geologist, as defined by the Toronto and Vancouver Stock Exchanges.
For further information, see the Company website at www.amurminerals.com.
