London Stock Exchange welcomes Erris Resources to AIM
Erris Resources plc (ERIS.L), a UK based European focussed exploration company, was today welcomed to the London Stock Exchange to celebrate its successful admission to AIM.
The Company has an established portfolio of zinc assets in Ireland and gold assets in the heart of Sweden’s mining district. It is led by a highly qualified team with proven experience of resource discovery and project development. Furthermore, the Company is supported by Canadian mining majors, Osisko Gold Royalties, which is a large stakeholder, and Centerra, Erris’ joint venture partner in a selection of Swedish gold projects.
Erris successfully raised £4 million by placing 31,000,000 new ordinary shares at a placing price of 25p per ordinary share, giving it a market capitalisation on admission of approximately £7.8 million. The directors elected to list on AIM due to the access it provides to capital markets, its visibility within the mining sector and its proximity to the Company’s European assets.
Following its listing on AIM, the directors intend to grow the Company by remaining discovery driven, focussed on identifying situations where it believes discoveries have been overlooked and make strategic acquisitions accordingly.
Merlin Marr-Johnson, Erris Chief Executive Officer, commented:
“We are delighted to successfully complete Erris Resources’ IPO and believe that today is a pivotal moment in the Company’s journey. As an exploration company focused on zinc and gold, we believe we are operating in a great space and are confident in the positive market dynamics in this sector. We have a portfolio of highly prospective mineral assets in low-risk European jurisdictions and aim to implement dynamic work programmes, whilst actively seeking other value-enhancing opportunities.
“We would like to thank the London Stock Exchange for its warm welcome and our staff and shareholders who have supported us thus far; we look forward to their continued support as we commence the next phase of our aggressive strategic growth strategy in 2018.”