TIDMHZM
RNS Number : 5346B
Horizonte Minerals PLC
11 January 2018
11 January 2018
HORIZONTE MINERALS CLOSES CANADIAN PORTION OF THE PLACING FOR
CAD$3.6 MILLION RAISING A TOTAL OF GBP9.2m
11 January 2018 - Further to its news release dated 19 December
2017, Horizonte Minerals Plc, (AIM: HZM, TSX: HZM) ('Horizonte' or
'the Company') is pleased to announce that it has completed the
second and final tranche of its equity fundraising. The Company has
successfully placed 60,587,500 Ordinary Shares in the Canadian
portion of the Placing, (the "Placing Shares") raising gross
proceeds of CAD$3,635,250. When combined with the GBP7m announced
on 19 December 2017, the Company has raised a total of GBP9.2m, an
increase on the previously announced quantum of GBP8.5m.
Horizonte CEO Jeremy Martin said, "I am pleased to announce that
the Company has successfully raised GBP9.2m predominantly through
existing and new institutional investors based in London and
Toronto, demonstrating support for the development of Araguaia and
the new acquisition of the Vermelho nickel-cobalt project. The
combination of the two projects will allow us to create one of the
leading nickel development companies. These corporate developments
sit against a backdrop of improving nickel market fundamentals,
driven by the robust market for stainless steel combined with the
fast growing electric vehicle market focused on nickel and cobalt.
We look forward to updating shareholders as we advance both
projects during 2018"
Settlement and dealings
The Placing is being conducted under existing authorities to
allot shares and as such there is no requirement for approval at a
general meeting.
Application has been made to the London Stock Exchange for the
Placing Shares to be admitted to trading on AIM. It is expected
that Admission of the 60,587,500 Placing Shares will become
effective and dealings in such Placing Shares will commence at 8.00
a.m. on 11 January 2018.
The Placing Shares will, when issued, rank pari passu in all
respects with the ordinary shares of the Company that are issued
and outstanding (the "Existing Shares") including the right to
receive dividends and other distributions declared following
Admission.
The Toronto Stock Exchange ('TSX') has conditionally approved
the Placing subject to fulfilling all of
the listing requirements of the TSX.
Total shares in issues
The Company now has 1,432,521,800 Ordinary Shares in issue. The
total voting rights will therefore be 1,432,521,800 and
Shareholders may use this figure as the denominator by which they
are required to notify their interest in, or change to their
interest in, the Company under the Disclosure and Transparency
Rules.
Enquiries:
Horizonte Minerals plc
Jeremy Martin (CEO) / David Hall (Chairman)
+44 (0) 20 7763 7157
Numis Securities Limited (Joint Broker)
John Prior/James Black/Paul Gillam
+44 (0)207 260 1000
finnCap Ltd (NOMAD & Joint Broker)
Christopher Raggett/ James Thompson /
Anthony Adams / Emily Morris
+44 (0) 20 7220 0500
Shard Capital (Joint Broker)
Damon Heath / Erik Woolgar
+44 (0) 20 7186 9952
Tavistock (Financial PR)
Jos Simson / Gareth Tredway / Barney Hayward
+44 (0) 20 7920 3150
About Horizonte Minerals:
Horizonte Minerals plc is an AIM and TSX-listed nickel
development company focused in Brazil, which wholly owns the
advanced Araguaia nickel laterite project located to the south of
the Carajás mineral district of northern Brazil. The Company is
developing Araguaia as the next major nickel mine in Brazil, with
targeted production by 2021. The Project has good infrastructure in
place including rail, road, water and power. Horizonte has a strong
shareholder structure including Teck Resources Limited 14.7%,
Richard Griffiths 9.0%, Lombard Odier Asset Management (Europe)
Limited 8.6%, Hargreave Hale 10.4%, JP Morgan 6.9%, and Glencore
5.2%.
CAUTIONARY STATEMENT REGARDING FORWARD LOOKING INFORMATION
Except for statements of historical fact relating to the
Company, certain information contained in this press release
constitutes "forward-looking information" under Canadian securities
legislation. Forward-looking information includes, but is not
limited to, statements with respect to the potential of the
Company's current or future property mineral projects; the success
of exploration and mining activities; cost and timing of future
exploration, production and development; the estimation of mineral
resources and reserves and the ability of the Company to achieve
its goals in respect of growing its mineral resources; and the
realization of mineral resource and reserve estimates. Generally,
forward-looking information can be identified by the use of
forward-looking terminology such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or statements
that certain actions, events or results "may", "could", "would",
"might" or "will be taken", "occur" or "be achieved".
Forward-looking information is based on the reasonable assumptions,
estimates, analysis and opinions of management made in light of its
experience and its perception of trends, current conditions and
expected developments, as well as other factors that management
believes to be relevant and reasonable in the circumstances at the
date that such statements are made, and are inherently subject to
known and unknown risks, uncertainties and other factors that may
cause the actual results, level of activity, performance or
achievements of the Company to be materially different from those
expressed or implied by such forward-looking information, including
but not limited to risks related to: exploration and mining risks,
competition from competitors with greater capital; the Company's
lack of experience with respect to development-stage mining
operations; fluctuations in metal prices; uninsured risks;
environmental and other regulatory requirements; exploration,
mining and other licences; the Company's future payment
obligations; potential disputes with respect to the Company's title
to, and the area of, its mining concessions; the Company's
dependence on its ability to obtain sufficient financing in the
future; the Company's dependence on its relationships with third
parties; the Company's joint ventures; the potential of currency
fluctuations and political or economic instability in countries in
which the Company operates; currency exchange fluctuations; the
Company's ability to manage its growth effectively; the trading
market for the ordinary shares of the Company; uncertainty with
respect to the Company's plans to continue to develop its
operations and new projects; the Company's dependence on key
personnel; possible conflicts of interest of directors and officers
of the Company, and various risks associated with the legal, the
Company's use of proceeds from the Placing, the Company's ability
to obtain final approval from the TSX for the listing of the
Ordinary Shares issued in the Placing and regulatory framework
within which the Company operates.
Although management of the Company has attempted to identify
important factors that could cause actual results to differ
materially from those contained in forward-looking information,
there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that
such statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated in
such statements.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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