Highlands Natural Resources PLC Results of PrimaryBid.com Offer (3718T)
20 March 2019 - 6:01PM
UK Regulatory
TIDMHNR
RNS Number : 3718T
Highlands Natural Resources PLC
20 March 2019
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED TO
CONSTITUTE INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE
MARKET ABUSE REGULATION (EU) NO. 596/2014. UPON THE PUBLICATION OF
THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE
IN THE PUBLIC DOMAIN.
NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES,
AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER
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WOULD BE PROHIBITED BY ANY APPLICABLE LAW.
20 March 2019
Highlands Natural Resources plc
("Highlands" or the "Company")
Results of PrimaryBid.com Offer
Highlands, the London-listed natural resources company announced
on 19 March 2019 the launch of a fundraising comprising a
subscription in conjunction with an offer via PrimaryBid (the
"PrimaryBid Offer") (together the "Fundraising").
The Company is pleased to announce that the PrimaryBid Offer
received strong demand from private investors and successfully
completed and closed at 9.00 p.m. on 19 March 2019.
Following the successful closing of the PrimaryBid Offer, the
Company has raised gross proceeds of GBP1.56 million at 8.5 pence
per ordinary share via the Fundraising.
Admission and dealings
Application will be made for 18,318,713 Ordinary Shares in the
Company to be admitted to trading on the Official List of the UK
Listing Authority by way of a Standard Listing and to trading on
the London Stock Exchange's Main Market for listed securities
("Admission"). Admission is expected to take place on 26 March
2019.
Following Admission, the new Ordinary Shares will rank pari
passu in all respects with the existing Ordinary Shares in issue,
including the right to receive all dividends and other
distributions declared, and the total number of ordinary shares in
Highlands with voting rights will be 136,483,080. This figure may
be used by Highlands shareholders as the denominator for
calculations to determine if they have a notifiable interest in
Highlands under the Disclosure and Transparency Rules, or if such
interest has changed.
Robert Price, Executive Chairman and CEO of Highlands, said:
"Zoetic Organics provides us with a compelling opportunity to enter
the rapidly growing CBD market at low cost and to secure the value
that our large, rare and valuable gas discovery creates for organic
agricultural operations for shareholders. I am delighted with the
support we have received from investors and we look forward to
establishing this new operation, which is expected to be profitable
in 2019, in the coming weeks."
Defined terms in this announcement shall have the same meaning
as in the Company announcement of 19 March 2019, unless otherwise
specified.
**ENDS**
Enquiries
Highlands Natural Resources plc +1 (0) 303 322 1066
Robert Price
PrimaryBid Limited +44 (0) 20 3026 4750
Robert Beenstock
Cantor Fitzgerald Europe +44 (0) 20 7894 7000
Nick Tulloch
David Porter
Keith, Bayley, Rogers & Co. Limited +44 (0) 207 464 4098
Brinsley Holman
Newgate Communications +44 (0) 20 3757 6880
Elisabeth Cowell
Fiona Norman
Notes to Editors
Highlands (LSE: HNR.L) is a London-listed natural resources
company with a portfolio of high-potential assets and technologies.
The Company's core projects include:
-- Colorado Shale: Highlands holds a 7.5% carried interest in
the East Denver Niobrara shale project. East Denver is currently
producing from eight wells, with the potential for up to 24 wells
in total. At its West Denver project, Highlands holds c.
5,300-acres of leases geologically similar to the East Denver
project. This division also includes its patented anti well-bashing
technology, DT Ultravert, successfully deployed in the Permian in
2018 and Piceance basins in 2016.
-- Kansas Gas Resource: 3,457-acres with the first well
producing hydrogen-nitrogen with an initial flow rate of 2,581
Mcfpd. Potential for an additional 24 wells.
-- Highlands Water Resources: formed to facilitate a range of
initiatives focused on easing the water shortage currently being
experienced across the US oil and gas industry, and particularly
across more arid States such as Colorado. Utilises the E10X modular
solar powered water-recycling units. Highlands is also exploring
the potential to supply water from its 154,072 acreage in
Montana.
-- Zoetic Organics: newly formed subsidiary targeting the
production of premium organic CBD products into wholesale and
retail channels from a 33,000 sq. ft. indoor facility (potential
annual harvest of 40,000 hemp plants) and an initial 20-acre
outdoor growing facility (potential annual harvest of 50,000 hemp
plants).
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END
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