Investment in Ascot Mining and Issue of Equity
14th September 2009
Worship Street Investments Limited
("Worship Street" or "the Company")
Investment in Ascot Mining and Issue of Equity
Worship Street is pleased to announce the acquisition of 344,897 shares in PLUS
quoted Ascot Mining at at a price of 35p per share, for a consideration of
£100,000.
Further to this Worship Street has agreed to a further investment of £25,000
into Ascot Mining for the issue of a further 8,750 new ordinary shares, the
consideration for which was satisfied by the issue of 1,000,000 new ordinary
shares in Worship Street Investments Limited at a price of 2.5p per share.
As part of the transaction, Worship Street also received 88,412 warrants in
Ascot Mining. The warrants are exercisable at 35p and can be exercised anytime
up to 17th August 2010.
As a result of the issue of 1 million shares, the issued share capital of
Worship Street Investments increases to 69,375,000. The directors holdings
remain unchanged.
Ascot Mining PLC is developing and rehabilitating previously producing gold
mines in Costa Rica. It is close to producing gold at its three wholly
owned subsidiaries, when they will generate substantial early cash flow. These
are:
* Veritas Gold CR, S.A. - Chassoul Gold Mine.
* Veritas Mining CR, S.A. - Tres Hermanos, El Recio and Boston.
* Veritas Resources CR, S.A. - La Toyota Mine Joint Venture.
The Company is now well positioned to speed up the move to Ascot becoming a
gold producer with a significant cash flow.
The Directors of the Company accept responsibility for the content of this
announcement.
---ENDS---
Enquiries:
Worship Street Investments Limited Tel: +44 (0)1624 620711
Michael Riddell
Rivington Street Corporate Finance Tel: +44 (0)20 7562 3389
Monisha Varadan Eran Zucker
Monisha@rs-cf.com Eran@rs-cf.com |
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