|By Marketwired .||
|May 27, 2014 02:00 AM EDT||
LONDON, UNITED KINGDOM and BAIE VERTE, NL and LABRADOR, CANADA -- (Marketwired) -- 05/27/14 -- Rambler Metals and Mining plc (TSX VENTURE: RAB) (LSE: RMM) ('Rambler' or the 'Company'), a copper and gold producer operating in Newfoundland and Labrador, Canada, today reports that it has subscribed to a placement in Maritime Resources Corp. (TSX VENTURE: MAE) ('Maritime') with CAD $129,000. See Maritime press release dated 22 May 2014 for additional details on the placement.
Of the $129,000, $79,000 will be used to allow for the conversion of a $75,000 loan, plus interest, into shares of Maritime, totaling 316,000 shares. The remaining $50,000 was invested for 200,000 non-flow though ('NFT') units consisting of one common share and one non-transferable share purchase warrant. Each share purchase warrant attached to NFT Units entitles the holder to purchase one non flow-through common share at a price of $0.35 until May 21, 2015.
Following the placement Rambler will hold 6,267,460 shares of Maritime representing 17.7% of the issued outstanding shares of the Company. Funds from the placement will be used to further advance the Green Bay Property and the former producing Hammerdown Gold Mine in particular.
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This information is provided by RNS
The company news service from the London Stock Exchange
For further information, please contact:
Norman Williams, CA
President and CEO
Rambler Metals & Mining Plc
Tel No: 709-800-1929
Fax No: 709-800-1921
Rambler Metals & Mining Plc
Tel No: +44 (0) 20 8652-2700
Fax No: +44 (0) 20 8652-2719
Stewart Dickson / Jeremy Stephenson
Cantor Fitzgerald Europe
Tel No: +44 (0) 20 7894 7000
Tim Blythe/ Camilla Horsfall
Tel No: +44 (0) 20 7138 3204
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