13 June
2022
ALTONA RARE EARTHS
PLC
(“Altona” or “the Company”)
ISSUE OF
EQUITY
Altona (AQSE: ANR), a mining company focused on the evaluation
and development of rare earths mining projects in Africa, announces that, as per the agreement
signed by the Company in June 2021
with Ussokoti Investimentos Lda and Monte Muambe Mining Lda
(“MMM”), the Company has issued 1 million Altona ordinary shares
and made a cash payment of £40,000 to the original shareholders of
MMM.
The Company has so far satisfied one of the terms required to
increase its holding in MMM, namely, the completion of the Phase 1
work programme at Monte Muambe, to the satisfaction of both Monte
Muambe Mining Lda and Altona. It is in the process of receiving
statutory approvals from the Mozambique government and, once these are
received, it will make a payment for capital gains tax with respect
to the transfer of a further 19% of MMM shares to Altona.
Thereafter, the Company’s holding in Monte Muambe Mining Lda will
have increased to 20%.
Admission and Total Voting Rights
Following this issue of 1 million Shares, which will
rank pari passu with the Company's existing
Ordinary Shares, the Company’s enlarged share capital and total
voting rights in the Company will comprise 37,484,999. The
Company has no shares held in Treasury. This figure of
37,484,999 ordinary shares may be used by shareholders in the
Company as the denominator for the calculations by which they will
determine if they are required to notify their interest in, or a
change in their interest in, the share capital of the Company under
the FCA’s Disclosure and Transparency Rules.
-ends-
For further information, please visit www.altonaRE.com or
contact:
Altona Rare Earths Plc
Christian Taylor-Wilkinson, Chief
Executive
+44 (0) 7795 168 157
Martin Wood, Non-Executive
Chairman
+44 (0) 7880 787 080
Optiva Securities (Broker)
Hal
Norwood
+44 (0) 20 3411 1882
Alfred Henry Corporate Finance Ltd (AQSE Corporate
Adviser )
Jon Isaacs / Nick
Michaels
+44 (0) 20 3772 0021
Company Information
Altona Rare Earths Plc is a mining exploration company focused
on the evaluation, development and extraction of Rare Earth Element
(REE) metals in Africa. It acquired its first rare earths
mining asset, the Monte Muambe Project in northwest Mozambique in June
2021.
The Company was admitted to trading on AIM on 10 March 2005 and was subsequently admitted to
Aquis Stock Exchange on 1 February 2019. A copy of its
Admission documents dated 4 March
2005 can be accessed on its website,
www.altonaenergy.com. This website is where items can be
inspected under Rule 75 of the Aquis Rules for Issuers.