Bushveld Minerals Limited Update following Equity Issue (5587Y)
04 January 2024 - 1:30AM
UK Regulatory
TIDMBMN
RNS Number : 5587Y
Bushveld Minerals Limited
03 January 2024
Market Abuse Regulation ("MAR") Disclosure
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of MAR.
03 January 2024
Bushveld Minerals Limited
("Bushveld" or the "Company")
Update following Equity Issue
Bushveld Minerals Limited (AIM: BMN), the integrated primary
vanadium producer, hereby informs shareholders that it has yet to
receive the amount due by Southern Point Resources ("SPR") under
its subscription in the recent Equity Issue.
While the Company is confident the US$12.5 million in funds will
be received in the coming week and has been assured so by SPR,
Bushveld is obliged to inform the market of the current state of
affairs.
The shares due to SPR have been issued as a share certificate
and remain in the Company's possession. The money due is classified
as a short-term receivable on the balance sheet until it has been
received.
All other funds raised as part of the US$18.4 million equity
issue have been received, other than funds due from Acacia, which,
as previously announced, are due for settlement on or before 28
February 2024.
Enquiries : info@Bushveldminerals.com
Bushveld Minerals Limited +27 (0) 11 268 6555
Craig Coltman, Chief Executive Officer
Chika Edeh, Head of Investor Relations
Nominated Adviser, Joint Broker & Joint
SP Angel Corporate Finance LLP Bookrunner +44 (0) 20 3470 0470
Richard Morrison / Charlie Bouverat
Grant Barker / Richard Parlons
Hannam & Partners Joint Broker & Joint Bookrunner +44 (0) 20 7907 8500
Andrew Chubb / Matt Hasson / Jay Ashfield
Tavistock Financial PR +44 (0) 207 920 3150
Gareth Tredway / Tara Vivian-Neal / James Whitaker
ENDS
ABOUT BUSHVELD MINERALS LIMITED
Bushveld Minerals is a vertically integrated primary vanadium
producer, it is one of only three operating primary vanadium
producers. In 2022, the Company produced more than 3,800 mtV,
representing approximately three per cent of the global vanadium
market. With a diversified vanadium product portfolio serving the
needs of the steel, energy and chemical sectors.
Detailed information on the Company and progress to date can be
accessed on the website www.bushveldminerals.com
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END
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