EMED Mining Public Limited - Passing of resolutions and update on subscription

AIM: EMED      
TSX: EMD

NICOSIA, Cyprus, March 12, 2012 /CNW Telbec/ - EMED Mining Public Limited ("EMED Mining" or the "Company") (AIM: EMED) (TSX: EMD). Further to its announcements on the 6th and 17th of February 2012 relating to a proposed aggregate funding package of US$30 million with Yanggu Xiangguang Copper Co. Ltd ("XGC"), EMED Mining Public Limited ("EMED Mining" or "the Company"), the Europe-based minerals development and exploration company, is pleased to announce that all resolutions put to members at the Extraordinary General Meeting ("EGM") of the Company held today at 10.00 a.m. (Cyprus time) have been passed.

EMED Mining is also pleased to confirm that it has now received all approvals required in connection with the subscription by XGC's subsidiary of 105,378,519 new ordinary shares in the Company (the "Subscription Shares") at 9 pence per share under the subscription agreement dated 6 February 2012 (the "Subscription Agreement"), including the previously-mentioned approvals required from the Chinese National and Development Committee and the Toronto Stock Exchange.  The only material outstanding condition under the Subscription Agreement is the admission of the Subscription Shares to trading on AIM becoming effective ("Admission").  The Company will shortly be making an application for Admission which is expected to become effective on or about 22 March 2012.

Enquiries

EMED Mining			Harry Anagnostaras-Adams		[phone]
RFC Corporate Finance			Stuart Laing		[phone]
Fox-Davies Capital			Simon Leathers		[phone]
Bishopsgate Communications			Nick Rome/Shabnam Bashir		[phone]
Proconsul Capital			Andreas Curkovic		[phone]

 

 

 

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