8 Jan

Conversion of Short Term Loan

International Mining & Infrastructure Corporation plc (AIM: IMIC), the company focused on unlocking the value of African iron ore, announces that African Iron Ore Group Ltd. (“AIOG”), a strategic partner and an existing shareholder in the Company, has elected to convert US$3,000,000 of

the US$5,800,000 short term loan to the Company which is repayable on or before 30 June 2015, as announced on 22 December 2014 (the “Loan”), into 19,736,842 new ordinary shares of 0.2 pence each in IMIC (the “Ordinary Shares”) at the conversion price of 10 pence per Ordinary Share (the “Conversion”). Under the terms of the Conversion, AIOG will receive one warrant to subscribe for Ordinary Shares for every Ordinary Share received pursuant to Conversion (the “Warrants”). The Warrants are exercisable at any time up to two years following the first anniversary of their issue at a price of 10 pence per Ordinary Share. If all of the Warrants issued pursuant to the Conversion were to be exercised, the gross total proceeds arising would represent £1,973,684 (approximately US$3,000,000).

Full announcement...