AGRICOLA RESOURCES - PRESS RELEASE

AGRICOLA RESOURCES COMPLETES PLACING RAISING GBP100,000

London : 11 November 2003. Agricola Resources plc has today announced the completion of a placing, raising GBP100,000 gross via the issue of 10,000,000 new Ordinary Shares at a price of 1p 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, said "These additional funds raised will allow us to progress our intended projects much more quickly" Expenses of the placing are estimated at GBP5,500. As a result of this placing, the total number of shares in issue has increased to 68,403,137. 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 : Bob Young Agricola Resources plc Tel: 01353 648 931 Email   Email this Page