Rambler Metals & Mining PLC Announces Posting of Open Offer Circular

NEWFOUNDLAND and LABRADOR, CA / ACCESSWIRE / March 28, 2019 / Rambler is pleased to announce that it has today posted a circular (the
Circular) to Qualifying Shareholders regarding an Open Offer for maximum net proceeds of approximately £1.7 million. The Circular is also available on the Company’s website at http://www.ramblermines.com/.

All capitalised terms in this announcement have the same meanings as those given to them in the Circular, unless the context otherwise requires.

The Open Offer is being made to Qualifying Shareholders on the register as at the Record Date of 25 March 2019, for up to 121,582,721 Open Offer Shares at an Issue Price of 1.4p per Open Offer Share (being the same price as the subscription price for the Subscription completed on 1 March 2019) on the basis of:

1 Open Offer Share for every Existing
Ordinary Share

The Issue Price represents a discount of approximately 13.9 per cent to the closing price per Ordinary Share as at 25 March 2019, the last practicable date prior to the date of the Circular, and a discount of 15.0 per cent to the seven day VWAP prior to such date.

Full details of the Open Offer, including terms and conditions and details of how to accept the Open Offer are set out in the Circular posted to Qualifying Shareholders today and available on the Company’s website.

EXPECTED TIMETABLE OF PRINCIPAL EVENTS

2019

Record Date for entitlement under the Open Offer

Close of business on 25 March

Posting of the Circular and, to Qualifying non‑CREST Shareholders only, the Application Form

28 March

Ex‑entitlement date and time

8.00 am on 28 March

Open Offer Entitlements credited to stock accounts in CREST of Qualifying CREST Shareholders

As soon as practicable on 29 March

Latest recommended time and date for requesting withdrawal of Open Offer Entitlements from CREST

4.30 pm on 8 April

Latest time for depositing Open Offer Entitlements into CREST

3.00 pm on 9 April

Latest time and date for splitting Application Forms (to satisfy bona fide market claims)

3.00 pm on 10 April

Latest time and
date for receipt of completed Application Forms and payment in full under the
Open Offer or settlement of relevant CREST instruction (as appropriate)

11.00
am on 12 April

Expected date of announcement of results of the Open Offer

15 April

Admission effective and dealings in the Open Offer Shares expected to commence on AIM

8.00 am on 16 April

Expected date for crediting of Open Offer Shares in uncertificated form to CREST stock accounts

16 April

Expected date of despatch of share certificates in respect of Open Offer Shares in certificated form

23 April

Notes:

Each of the dates in the above timetable is subject to change at the absolute discretion of the Company. If any of the details should change, where appropriate, the revised times and/or dates will be notified to Shareholders by means of an announcement through a Regulatory Information Service. All references to time are to time in London, UK.

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.

Following the completion of its recent productivity improvement initiative Rambler’s focus is on sustaining mine and mill production at 1,250 metric tonnes per day. With a return to profitability and positive cash flow, Rambler will continue advancing Phase III engineering studies with a view to further increase production to 2,000 mtpd at the Ming Mine.

Along with the Ming Mine, Rambler also owns 100 per cent of the former producing Little Deer/ Whales Back copper mines and has strategic investment in the former producing Hammerdown gold mine.

Rambler is currently listed
in London under AIM:RMM.

For
further information, please contact:

Sanjay Swarup, ACA, MBA
CFO
Rambler Metals & Mining Plc

Peter Mercer. P. Geo
Vice President, Corporate Secretary
Rambler Metals & Mining Plc
Tel No: 709-800-1929
Fax No: 709-800-1921

Nominated
Adviser (NOMAD)

David Porter
Cantor Fitzgerald Europe
Tel No: +44 (0) 20 7894 7000

Website: www.ramblermines.com

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SOURCE: Rambler Metals & Mining Plc

ReleaseID: 540382