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Amara Mining PLC Announces Issue of Equity

LONDON, UNITED KINGDOM -- (Marketwired) -- 03/21/14 -- Amara Mining PLC (AIM: AMA) (TSX: AMZ)

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Amara Mining plc
("Amara" or "the Company")

PROPOSED PLACING TO RAISE £ 18.2 MILLION (US$30.0 MILLION) AND PROPOSED OPEN OFFER OF UP TO £ 4.2 MILLION (US$6.9 MILLION)

Amara, the AIM listed West African focused gold mining company, is pleased to announce a proposed placing and subscription ("the Placing") of 107,058,823 shares ("the Placing Shares") to raise £ 18.2 million (approximately US$30.0 million) before expenses and a proposed open offer (the "Open Offer") of 24,468,439 shares ("the Open Offer Shares") to raise up to £ 4.2 million (approximately US$6.9 million) at a price of 17.0 pence per share (the "Issue Price") for total proceeds of up to £ 22.3 million (approximately US$36.9 million). The completion of the Placing is conditional upon inter alia the approval of shareholders in a general meeting of the Company (the "General Meeting") and admission of the Placing Shares to trading on AIM. The Placing is not conditional upon the Open Offer.

Click on, or paste the following link into your web browser, to view the associated PDF document.
http://www.rns-pdf.londonstockexchange.com/rns/8674C_1-2014-3-21.pdf

For more information please contact:

Amara Mining plc                                  +44 (0)20 7398 1420
John McGloin, Chairman
Peter Spivey, Chief Executive Officer
Pete Gardner, Finance Director
Katharine Sutton, Head of Investor Relations
Peel Hunt LLP                                     +44 (0)20 7418 8900
(Nominated Adviser & Joint Broker)
Matthew Armitt
Ross Allister
GMP Securities Europe LLP                         +44 (0)20 7647 2800
(Joint Broker)
Richard Greenfield
David Wargo
Bell Pottinger                                    +44 (0)20 7861 3232
(Financial Public Relations)
Mark Antelme
Lorna Cobbett

This information is provided by RNS
The company news service from the London Stock Exchange

Contact:
RNS
Customer Services
0044-207797-4400
[email protected]
http://www.rns.com

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