Company News: Frontier Mining Last Update: 19 Nov 2009
Press Release: Issue Of Equity 18-09-09
- Date: 18 Sep 2009
- Category: Standard Release
- Description: Frontier Mining Ltd (AIM: FML), the AIM listed gold and copper exploration and development Company focused in Kazakhstan, announces its unaudited interim results for the six months ended 30 June 2009.
SEDA Facility
Frontier Mining Ltd, the AIM listed gold and copper exploration and Development Company focused on Kazakhstan, announces that following the first draw down of £120,000 under the £5 million Standby Equity Distribution Agreement ("SEDA") with YA Global Master SPV Ltd ("YA"), as announced on 25 August 2009, the Company has allotted 1,805,856 ordinary shares of US$0.01 each (“Shares”) in the Company to YA at a price of 6.65 pence per share. This price is calculated by a formula based on the prevailing market price and specified under the terms of the SEDA.
In addition, Frontier announces the issue of a further 1,038,208 shares to Yorkville Advisors LLC (“Yorkville”), which represents the remaining 50% of the total agreed fee payable to Yorkville under the terms of the SEDA as announced on 28 August.
Directors Interests
Pursuant to the financing agreement announced on 30th April 2009, the Company has today issued the final 80,000,000 Shares of US$0.01 each in the Company and 326,032,344 warrants due under the terms of the agreement to River House Consultants Ltd, a company that is controlled by Mr Erlan Sagadiev, the CEO of Frontier. The warrants entitle the holder to subscribe for new Shares at an exercise price of 1.5p per Share.
Following this transaction, Mr. Sagadiev has an interest in 97,500,000 Shares in the Company, representing 19.1% of the issued share capital of the Company, and 372,540,430 Warrants Application has been made for the admission of the new ordinary shares to trade on the AIM market. The new ordinary shares will rank pari passu with the existing ordinary shares of US$0.01 each in the Company and dealings in these new ordinary shares are expected to commence on or around Friday 25 September 2009.
Site Search
Log in
Geologists- Senior and Junior Positions
Gryphon Minerals is aggressively growing its world class Banfora Gold Project in Burkina Faso, West Africa.
Mining and Metals Opportunities - Hatch
Mining and Metals Opportunities in London and Globally: Senior and junior roles.
Minerals Geoscientist Vacancy - Neftex
Do you want to help develop the world’s most detailed commercially-available 4D Earth Model to support the mining majors?
Opportunities for Senior & Principal Level Consultants - SRK
Professionals needed for central Moscow office.
Senior Hydrogeologist - Schlumberger
We need you in Australia or Canada
Mining Journal is looking to employ a full-time member of staff in British Columbia
'Sustained' growth for MJ's parent company
The parent company of Mining Journal, Aspermont Ltd, recently announced a 19% increase in revenue from its media business to A$24.98 million (US$25.8 million) for the year to end-June.
