Alien Metals Limited (LSE AIM:UFO), a minerals exploration and development company, is pleased to announce that following the legal registration to acquire the Nueva Andromeda Permit next to San Celso, Mexico (as announced on 2 February 2021)
It has issued 100,000 ordinary shares of no par value in the capital if the Company at an issue price of £0.00975p per share (“New Ordinary Shares”), to the two vendors under the terms of the option agreement (the “Option Agreement”). Under the Option Agreement, the Company has also agreed that should it exercise its option to acquire the permits in the future it will pay the vendors US$100,000 in cash.
The New Ordinary Shares will rank pari passu with the existing ordinary shares in issue and application will be made to the London Stock Exchange for 100,000 New Ordinary Shares to be admitted to trading on AIM. Admission of the New Ordinary Shares is expected to become effective at 08.00 on or around 17 February 2021.
Following Admission, the Company will have 3,422,891,048 ordinary shares of no par value in issue. The Company has no shares in treasury and therefore the figure of 3,422,891,048 should be used by shareholders for the calculations by which they will determine if they are required to notify their interest in, or a change of their interest in, the share capital of the Company under the FCA’s Disclosure and Transparency Rules.
For further information please visit the Company’s website at www.alienmetals.uk
Notes to Editors
Alien Metals Ltd is a mining exploration and development company listed on AIM of the London Stock Exchange (LSE: UFO). The Company’s focus is on precious and base metal commodities, with its operations located in proven mining jurisdictions and it has embarked upon an acquisition-led strategy headed by a high-quality geological team to build a strong portfolio of diversified assets.
In 2019 it made two acquisitions over the Brockman and Hancock Ranges high-grade (Direct Shipping Ore) iron ore projects and the Elizabeth Hill Silver projects both located in the Pilbara region, Western Australia.
The Company also holds silver projects located in the Zacatecas State, Mexico’s largest silver producing state which produced over 190m oz of silver in 2018 alone accounting for 45% of the total silver production of Mexico for that year.
In addition to progressing and developing its portfolio of assets and following its strategic review of its portfolio of silver and precious metals projects in Mexico, Alien Metals has identified priority exploration targets within its nine mining concessions which it is working to advance systematically.
