09:45:32 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Minera IRL Ltd
Symbol IRL
Shares Issued 182,824,225
Close 2014-01-27 C$ 0.195
Market Cap C$ 35,650,724
Recent Sedar Documents

Minera IRL issues 44.12 million shares to Rio Tinto

2014-01-28 13:27 ET - News Release

Mr. Jeremy Link reports

MINERA IRL ISSUES SHARES TO RIO TINTO FOR FIRST INSTALMENT OF FINAL OLLACHEA PAYMENT

Minera IRL Ltd. has issued 44,126,780 ordinary shares of the company at a price of 17.9 cents (equivalent to 16.9 U.S. cents) to Rio Tinto Mining and Exploration Ltd. to settle the first instalment of the final Ollachea payment ($7.31-million (U.S.)) and interest due ($128,000 (U.S.)) as detailed in the company's announcement dated Dec. 24, 2013.

The final instalment of $14.19-million (U.S.), representing the remaining 66 per cent of the total amount payable, is not due until July, 2016, with interest accruing at 7 per cent per year, and is payable annually in July.

Application has been made for the shares to be admitted to trading on AIM. The shares will rank pari passu with the existing ordinary shares in the company, and it is expected that dealings in these shares will commence on Feb. 3, 2014. Following admission, Minera IRL will have 226,951,005 ordinary shares outstanding, and Rio Tinto will hold 44,126,780 ordinary shares, representing approximately 19.44 per cent of the issued share capital in the company.

We seek Safe Harbor.

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