Aurasian Minerals plc Acquires Moroccan Minerals Limited

AURASIAN Minerals plc is pleased to announce that, further to the announcement made on 18 April 2016, the Company has now received acceptances from all of the shareholders of Moroccan Minerals Limited in relation to the offer from Aurasian for the acquisition of the entire issued share capital of MML.

In line with the terms of the heads of agreement announced on 1 December 2015, Aurasian will acquire in the entire issued share capital of MML (the "MML Shares") on the following basis:

4.22 ordinary shares in the capital of Aurasian ("Aurasian Shares") for each MML share held

There are currently 17,974,054 MML Shares in issue and accordingly, the Company has applied for 75,850,508 ordinary shares in the capital of the Company ("Consideration Shares") to be admitted to trading on AIM ("Admission"). Admission is expected to occur and dealing to commence in the Consideration Shares on 31 May 2016. The Consideration Shares will rank pari passu with the existing Ordinary Shares in issue. Following Admission the Company will have 535,158,978 Ordinary Shares in issue. The Company does not hold any shares in treasury and therefore this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required notify their interest in, or a change to their interest in, the share capital of the Company.   

In addition, Aurasian will issue warrants to certain MML Shareholders in lieu of options over MML Shares that have been granted to them previously. Such warrants will grant these MML Shareholders the right to subscribe for in aggregate 1,899,000 Aurasian Shares. Of these warrants 844,000 will have a strike price of 0.7 pence per Aurasian Share and 1,055,000 will have a strike price of 0.58 pence per Aurasian Share.

Having closed the Offer, the Company will focus its efforts on the advancement of the Chadine Project in Serbia. In addition, Aurasian continues to look for other opportunities to expand its asset portfolio, particularly in Serbia where the management team has extensive experience and contacts. 

For further information on MML and the Chadine Project in Serbia please refer to the announcements dated 1 December 2015 and 18 January 2016.