{"id":95722,"title":"Empire Metals Ltd (AIM:EEE) Completion of Acquisition: Pitfield Cu-Au Project","publisher":"Share Talk","author":"sharetalk","published":"2022-04-13T09:59:34+00:00","modified":"2022-04-13T09:59:34+00:00","canonical_url":"https://www.share-talk.com/empire-metals-ltd-aimeee-completion-of-acquisition-pitfield-cu-au-project/","markdown_url":"https://www.share-talk.com/empire-metals-ltd-aimeee-completion-of-acquisition-pitfield-cu-au-project.md","json_url":"https://www.share-talk.com/empire-metals-ltd-aimeee-completion-of-acquisition-pitfield-cu-au-project.json","category":"Mining","categories":["Mining"],"tags":["Bolnisi","COPPER","EEE","Empire Metals","Georgia","Gold","Greg Kuenzel","Kalgoorlie","Mike Struthers","Neil O'Brien","Nugget Patch","Shaun Bunn","Teglio","Western Australia"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/11/Stencil-Google-Chrome-2023-04-19-at-2.47.43-PM.jpeg?fit=1231%2C615&quality=89&ssl=1","format":"news","language":"en-GB","content":"Empire Metals Limited (LON: EEE), announces that it has completed the acquisition of the Pitfield Copper-Gold Project (‘Pitfield’) the first of three highly prospective Australian-based copper-gold projects (the ‘Projects’) acquired from Century Minerals Pty Ltd (‘Century’) (refer to RNS dated 6 April 2022).\n\nCompletion and Issue of Equity\n\nThe consideration for the Projects will be satisfied by the issue of 16,835,588 new ordinary shares in Empire (representing 5% of the issued share capital of the Company at signing) (the ‘Consideration Shares’) apportioned equally between each Project and issued upon the grant of the relevant Tenement comprising each Project, which in the case of Pitfield is the already granted Exploration Licence E70/5465.\n\nFollowing completion on Pitfield, 5,611,863, Consideration Shares have been issued. The remaining two thirds of the Consideration Shares will be issued in two tranches at the time that the Stavely and Walton licences are granted.\n\nApplication for Admission\n\nThe 5,611,863 Consideration Shares will rank pari passu in all respects with the existing ordinary shares of no-par value in the capital of the Company. Application will be 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 on or around 21 April 2022.\n\nFollowing Admission of the new shares as described above, the issued share capital of the Company will consist of 342,323,618 ordinary shares of no-par value. 342,323,618 represents the total number of voting rights in the Company and may be used by shareholders as the denominator for the calculations by which they can determine if they are required to notify their interest in, or a change to their interest in the Company under the Financial Conduct Authority’s Disclosure and Transparency Rules.\n\nMarket Abuse Regulation (MAR) Disclosure\n\nCertain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014, as incorporated into UK law by the European Union (Withdrawal) Act 2018, until the release of this announcement.\n\n**ENDS**\n\nFor further information please visit [www.empiremetals.co.uk](http://www.empiremetals.co.uk) or contact:\n\n**Empire Metals Ltd**\n\n**Shaun Bunn / Greg Kuenzel**\n\n**Tel: 020 7907 9327**"}