GCM Resources plc, a n AIM quoted mining and energy company , announces the issuance of new ordinary shares of 1 pence each in the capital of the Company ("Ordinary Shares") as payment of consulting fees in accordance with the consultancy agreement announced on 26 October 2018 and extended on 29 June 2020, with Dyani Corporation Limited ( " Dyani" ) (the "Dyani Agreement"), and in accordance with the consultancy agreement announced on 4 September 2019, with DG Infratech Pte Ltd ( " DG ") (the " DG Agreement " ) (together, the "Agreements") .
The Agreements provide that new Ordinary Shares would be awarded to Dyani and DG in the event that certain key milestones were reached in respect of formally securing the interest of Chinese State-owned enterprises to partner in the Phulbari Coal and Power Project. Details of these milestones are set out in the Company