AGRICOLA RESOURCES - PRESS RELEASE

AGRICOLA RESOURCES COMPLETES PLACING RAISING £80,000

London : 7th May 2004. Agricola Resources plc has today announced the completion of a placing, raising GBP80,000 gross via the issue of 4,000,000 new Ordinary Shares at a price of 2p per share. The funds raised will be used to cover expenses and general working capital requirements. The placing did not include any warrants or options and each new Ordinary Share will rank pari passu with all existing Ordinary Shares. Dr Robert Young, Chief Executive of Agricola, commented "We are happy with the progress that the Company has made to date and we look forward to moving the Company forward to the next stage of development" Expenses of the placing are estimated at GBP2,800. As a result of this placing, the total number of shares in issue has increased to 79,903,137. The directors' total beneficial shareholding and percentage ownership of ordinary shares of the Company is unchanged. The directors of Agricola accept responsibility for this announcement. Contact : Dr Robert Young Chief Executive Agricola Resources plc Tel: 01353 648 931 Email   Email this Page