TIDMRMM
RNS Number : 6883V
Rambler Metals & Mining PLC
06 April 2023
6 April 2023
Materials publicly filed in the CCAA Proceedings
London, England - Baie Verte, Newfoundland and Labrador, Canada
- Rambler Metals and Mining plc (AIM: RMM) ("Rambler" or the
"Company") wishes to notify the shareholders that further to the
Company's announcement made on 30 March 2023, additional materials
publicly filed in the CCAA Proceedings, including the Third
Monitor's Report and an application in support of the Wage Earner
Protection Program Act applicability under CCAA, Memorandum of Fact
and Law and the Court Order, will be available shortly on the
Monitor's website at www.GrantThornton.ca/Rambler .
The materials published on the website are as follows
("Materials"):
1. Third Monitor's Report dated 5 April 2023
http://www.rns-pdf.londonstockexchange.com/rns/6883V_1-2023-4-6.pdf
2. Application for a declaration pursuant to section 5(5) of the
Wage Earner Protection Program Act dated 5 April 2023
http://www.rns-pdf.londonstockexchange.com/rns/6883V_2-2023-4-6.pdf
3. Memorandum of Fact and Law in support of WEPPA application dated 5 April 2023
http://www.rns-pdf.londonstockexchange.com/rns/6883V_3-2023-4-6.pdf
4. Court Order dated 6 April 2023
http://www.rns-pdf.londonstockexchange.com/rns/6883V_4-2023-4-6.pdf
Shareholders should know that within the Materials, item one
above contains a 13-week Cash Flow Projection beginning the week of
3 April 2023, Rambler Canada's budget to actual cash flow to date
reflective of the 13 March 2023, outstanding post-filing expenses,
breakdown of secured creditors, summary of the charges in the CCAA
Proceedings therefore Shareholders should not place undue reliance
on such information until it has been audited.
Further announcements will be made, as appropriate.
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ('MAR') which has
been incorporated into UK law by the European Union (Withdrawal)
Act 2018. Upon the publication of this announcement via Regulatory
Information Service ('RIS'), this inside information is now
considered to be in the public domain.
Terms and definitions in this notification are as defined in the
notification of 27 February 2023.
ABOUT RAMBLER METALS AND MINING
Rambler is a mining and development company that in November
2012 brought its first mine into commercial production. Rambler has
a 100 per cent ownership in the Ming Copper-Gold Mine, a fully
operational base and precious metals processing facility and
year-round bulk storage and shipping facility; all located on the
Baie Verte peninsula, Newfoundland and Labrador, Canada.
The Company has targeted a production profile to meet current
mill capacity of 1,350 metric tonnes per day with a target grade of
2% Cu and is evaluating growth opportunities from that base .
Along with the Ming Mine, Rambler also owns 100 per cent of the
former producing Little Deer Complex.
Caution Regarding Forward Looking Statements:
This press release may include forward-looking statements, which
reflects the Company's current expectations regarding future
events. Forward-looking statements include, but are not limited to,
statements regarding the development and implementation of the
Strategic Process and its potential impact and outcomes; the
process for developing the Strategic Process and seeking Court
approval thereof; the ability to identify and implement any sale or
restructuring transaction in connection with the Strategic Process
and the CCAA Proceedings; the Company's intended actions during the
CCAA Proceedings; and the effect of the CCAA Proceedings. Such
statements are based on current expectations of the Company's
management and inherently involve numerous risks and uncertainties,
known and unknown, and there can be no assurance as to the outcome
of the Strategic Process and the CCAA Proceedings. In particular
and without limitation, there can be no assurances as to: the
ability of the Company to obtain all necessary approvals in order
to complete any sale or restructuring transaction identified in
connection with the Strategic Process and the CCAA Proceedings; the
stay of proceedings having the effect contemplated by the Company
in providing it with additional time to pursue the Strategic
Process; the ability of the Company to operate in the ordinary
course during the CCAA Proceedings, including with respect to
satisfying obligations to service providers, suppliers, contractors
and employees; the ability of the Company to continue as a going
concern; the Company's future liquidity position, and access to
capital, to fund ongoing operations and obligations; the ability of
the Company to stabilize its business and financial condition; the
ability of the Company to implement and successfully achieve its
business priorities; the ability of the Company to comply with its
contractual obligations, including, without limitation, its
obligations under debt arrangements; the ability of the Company to
generate sufficient cash flow from operations; the impact of
competition; the ability of the Company to obtain and retain
qualified staff, equipment and services in a timely and efficient
manner (including in light of the Company's restructuring efforts);
and the ability of the Company to retain members of the senior
management team, including but not limited to, the officers of the
Company.
Rambler is listed in London under AIM:RMM.
Media Contact:
T im Sanford, P. Eng.
VP & Corporate Secretary
Email: tsanford@ramblermines.com
Tel No: +1 (709) 532 5736
For further information, please contact:
T oby Bradbury Celeste Van Tonder T im Sanford. P. Eng.
President and CEO CFO VP & Corporate Secretary
Rambler Metals & Mining Rambler Metals & Mining Rambler Metals & Mining
Plc Plc Plc
Tel No: +1 (709) 800 Tel No: +1 (709) 800 Tel No: +1 (709) 532
1929 1929 5736
Fax No: +1 (709) 800 Fax No: +1 (709) 800 Fax No: +1 (709) 800
1921 1921 1921
Nominated Advisor (NOMAD)
Ewan Leggat, Kasia
Brzozowska
SP Angel Corporate
Finance LLP
Tel No: +44 (0) 20
3470 0470
Website: www.ramblermines.com
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END
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