Issue of Shares

MERCATOR GOLD plc
(“Mercator Gold”, “Mercator” or “the Company”)

AIM: MCR

US OTC: MTGDY

 

LONDON: 31 JULY 2009

EXERCISE OF WARRANTS

The Company announces that pursuant to the terms of a Warrant Instrument by way of Deed Poll dated 29 May 2009, Notice of Exercise has been received for 9,353 Warrants for ordinary shares of 0.1p each in the Company (the "Shares") at a subscription price of 2p each.

Application has been made for the Shares, which will rank pari passu with all existing ordinary shares, to be admitted to trading on AIM. Dealings in these Ordinary Shares are expected to commence on 6 August 2009.

ALLOTMENT OF SHARES

The Company announces that pursuant to the terms of the Convertible Loan Notes with a nominal value of £2,565,000 issued on 17 October 2007 (the "Convertible Loan Notes"), three holders of the Convertible Loan Notes have elected to receive ordinary shares of 0.1p each in the Company (the "Shares") instead of a cash payment of interest. The Company will issue 674,410 Shares at 2p each, which will result in a cash saving of £13,488.22.

Application has been made for the Shares, which will rank pari passu with all existing ordinary shares, to be admitted to trading on AIM. Dealings in these Ordinary Shares are expected to commence on 6 August 2009.

The Company also announces that terms have been arranged for the settlement of creditors’ fees in the amount of 5,384,808 Ordinary Shares (“the Shares”) of 0.1p each in the Company at a subscription price of 2p each. This will result in a cash saving of approximately £107,880.

Application has been made for the Shares, which will rank pari passu with all existing ordinary shares, to be admitted to trading on AIM. Dealings in these Ordinary Shares are expected to commence on 6 August 2009.

Following the issues, the total of Shares in issue will be 121,243,482.

For further information please contact:

Mercator Gold plc    
Michael Silver, Chairman Tel: +44 (0) 20 7929 1010
Patrick Harford, Managing Director    
Email:This email address is being protected from spambots. You need JavaScript enabled to view it.    
   
   
   
Bankside Consultants Ltd Tel: +44 (0) 20 7367 8888
Simon Rothschild    
Oliver Winters    
   
   
   
Cenkos Securities plc    
Adrian Hargrave Tel: +44 (0) 20 7397 8900
Beth McKiernan    
     
     
     
     
Old Park Lane Capital PLC    
Forbes Cutler Tel: +44 (0) 20 7518 2603
Director of Corporate Broking    
     
     
     
AIM: MCR    

 

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