Mining & Infra : 24 - Convertible Bond Issue Raises US$5.0 million

24 March 2015 INTERNATIONAL MINING & INFRASTRUCTURE CORPORATION PLC

('IMIC' or the 'Company')

Convertible Bond Issue Raises US$5.0 million International Mining & Infrastructure Corporation plc (AIM: IMIC), the company focused on unlocking the value of African iron ore, is pleased to announce that a Cameroonian investor, Caisse Capital Limited, an investment vehicle controlled by Mr. Colin Mukete, has invested US$5.0 million in the Company via a convertible bond (the 'Convertible Bond'). In addition, the Company is pleased to announce that Mr Mukete will be appointed to the Advisory Board of IMIC.

The Convertible Bond will be issued for a term of 36 months (the 'Term') and carry interest at the rate of 4 per cent. per annum above the three-month US Dollar LIBOR and will be paid semi-annually. The Convertible Bond can be converted into ordinary shares of 0.2 pence each in IMIC (the 'Ordinary Shares') at the holders discretion at any time following the six month anniversary of its issue and prior to the end of the Term at a price equivalent to the lowest price at which the Company has issued Ordinary Shares in the 12 months immediately preceding the conversion. The Convertible Bond is convertible into Ordinary Shares. The US$5.0 million due to the Company pursuant to the issue of the Convertible Bond has been received in full.
This investment by Caisse Capital Ltd demonstrates a significant show of support in the strategy pursued by IMIC to unlock the value opportunities in the extensive South Cameroon, North Congo, Gabon iron ore-rich corridor and where the Cameroon emerging mining infrastructure corridor is already coming to fruition via the Kribi Deepwater Seaport.
Mr Mukete is a Cameroonian businessman with broad business interests in telecommunications, TV broadcasting, agri-business, property development, construction and asset management. He is the chairman of the board of directors of MTN Cameroon, the leading mobile telecommunications operator in the country.
The addition of such a prominent Cameroonian businessman as Mr Mukete to IMIC's Advisory Board will significantly enhance the local involvement and support for our projects in Cameroon. Through his vast local knowledge, connections and experience, Mr Mukete will greatly strengthen the Advisory Board.

Caisse Capital's CEO, Mr. Colin Mukete commented: 'Cameroon is endowed with considerable untapped mineral resources notably iron ore and bauxite. Its position as the strategic emerging mining, logistics and industrial hub is consistent with the vision of IMIC's leadership to unlock the commercial value of iron ore through cost effective infrastructure solutions. I am pleased to join the IMIC Advisory Board through our investment and will work diligently with the leadership in creating a local and regional champion that can deliver robust investor returns with unprecedented socio-economic benefits.' Ethelbert Cooper, IMIC's Chairman, commented: 'I'm honoured to welcome Caisse Capital as a cornerstone investor in IMIC, and Mr. Colin Mukete as a new member of IMIC's Advisory Board. Mr Mukete is a respected business leader in Cameroon and his active involvement in IMIC is a major endorsement of our strategy to unlock the potential of Cameroon's iron ore assets. I very much look forward to Mr Mukete's contribution to our Advisory Board, where his combination of local knowledge and broad business experience will be of immense value.' For further information, please contact:

International Mining & Infrastructure Corporation plc	www.imicplc.com
Ethelbert Cooper, Chairman Haresh Kanabar, Chief Financial Officer	[phone]
Strand Hanson Limited - Financial & Nominated Adviser	www.strandhanson.co.uk

James Spinney / Ritchie Balmer / James Bellman	[phone]
Pareto Securities Limited - Sole Broker Guy Wilkes / Will Slack	www.paretosec.com [phone]
Buchanan Mark Court / Sophie Cowles	www.buchanan.uk.com [phone]

About IMIC

IMIC's strategy is, in conjunction with its partner AIOG, to develop fundable solutions to infrastructure provision for iron ore resources in West and Central Africa. In support IMIC will seek to acquire interests in iron ore projects that would benefit from a specific infrastructure solution. IMIC made its first investment with the Dec 2013 acquisition of Afferro Mining Inc, taking ownership of four iron ore deposits in Cameroon, the most advanced asset being Nkout. IMIC plans to continue to develop its assets, including accelerating the feasibility studies of the smaller Ntem deposit, which is located only 80km from Kribi deep water port.
IMIC's focus will initially be on iron ore opportunities in West and Central Africa. The demand for iron ore is currently being driven by China which consumes approximately 70 per cent. of the world's current annual production. As the urbanization of China continues demand for iron ore is expected to remain at significant levels through to 2030. The iron ore projects currently identified in West and Central Africa have the potential to produce at least 400 million tonnes of iron ore each year. This would establish Africa as a global player, alongside Australia and Brazil, in the iron ore industry.
In order to help deliver its infrastructure solutions, IMIC and AIOG have established strategic partnerships with various Chinese state owned companies. These companies are involved in railway and port construction, power, iron ore beneficiation and iron ore marketing. These relationships are intended to give IMIC and AIOG the ability to work with relevant governments and financial institutions to deliver infrastructure solutions and to guarantee the onward sale of iron ore in China and other emerging world markets.
IMIC shares are traded on the London Stock Exchange's AIM market under the ticker symbol IMIC.