TIDMIMCP
March 11, 2014
("IMC" or the "Company" or the "Group")
IMC Exploration Group Plc is pleased to announce the completion of a share for share exchange agreement with Global Resource Investment Trust Plc ("GRIT"). As part of this agreement, IMC will issue 16 million Ordinary Shares to GRIT at a price of GBP 0.02 pence resulting in GRIT being interested in 23% of the enlarged Issued Share Capital of IMC. In exchange for this issuance IMC will receive 320,000 Ordinary Shares in GRIT at a price of GBP 1per share and thereby valuing the transaction at GBP 320,000.
Application has been made by GRIT for its Ordinary Shares to be admitted to the premium listing segment of the Official List and for its Ordinary Shares to be admitted to trading on the London Stock Exchange's main market for listed securities with an expected listing date of 7th March 2014.
GRIT has been established to exploit investment opportunities in the junior mining and natural resource sectors worldwide with an investment objective to generate medium and long term capital growth.
Liam McGrattan, Chairman of IMC commenting on the agreement with GRIT said "The Company is delighted to have concluded this agreement with GRIT which demonstrates further confidence in the work conducted to date by IMC. I look forward to working closely with the trust's Chairman Anthony St. John and his board colleagues".
The Directors of the issuer accept responsibility for this announcement.
Contact Details:
IMC Exploration Group Plc
Mr. Liam McGrattan
Tel. Ireland: +353 87 2745427
William Albert Securities Limited
Mr. Albene Mendy
Tel. +442030063247
This email address is being protected from spambots. You need JavaScript enabled to view it.
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: IMC Exploration Group Plc via Globenewswire
HUG#1767791
(END) Dow Jones Newswires
March 11, 2014 03:01 ET (07:01 GMT)
