Oversubscribed Placing for Georgian Mining Corp Raising US$7m

25 May 2017

Shard Capital acts as joint broker to Georgian Mining Corporation and associated US$7m fundraise at 16p announced 23rd May 2017.

The net proceeds of the Placing will be primarily used to expand the resource development at the Kvemo Bolnisi (KB) copper and gold project in Georgia beyond the existing JORC estimate of 2.22Mt at 0.8% Cu and 0.1 g/t Au as well as to advance regional exploration. The Project is located on the Tethyan Belt, which is host to multiple high grade copper-gold deposits and producing mines in Turkey, Armenia, Serbia and Georgia. The Company believes KB has the potential to host one large epithermal copper/gold deposit and a three-phase resource development programme is underway to reach the Company’s 50Mt exploration target for KB, which is just one of 14 target areas identified within the Company’s 860 sq km licence area.

Shard Capital Corporate Broking offers traditional corporate broking in tandem with an integrated investor relations focused on pro-actively managing the relationship between a corporate client and its shareholders. Shard Capital has worked with Georgian Mining on previous fundraises. This placing was significantly oversubscribed with the roadshow attracting a range of blue chip institutions, wealth managers and retail investors.

Greg Kuenzel, Chief Executive Officer of Georgian Mining, commented:

“Georgian Mining has worked with Shard on a number of previous fundraises as well as this one. Along with their support in the primary raise we are impressed with their secondary market support and investor relations work to help disseminate our story and belief that we are developing a significant gold and copper deposit.”

Georgian Mining’s (GEO.L) share price as at 9 o’clock 25th May – 21.375p

Shard Capital Partners

0207 186 9950

Damon Heath and Erik Woolgar – Corporate Broking
Simon Leathers – Corporate Finance