TIDMHZM
RNS Number : 8050N
Horizonte Minerals PLC
23 January 2019
NEWS RELEASE
23 January 2019
ISSUE OF EQUITY TO GLENCORE
Horizonte Minerals Plc, (AIM/TSX: HZM) ('Horizonte' or 'the
Company') the nickel development company focused in Brazil,
announces the settlement of contingent consideration due to
Glencore plc following the filing of the Araguaia NI 43-101
Feasibility Study ("FS") on SEDAR on 12 December.
As per the terms of the Purchase Agreement between Horizonte and
Glencore dated 23 September 2015, Contingent consideration of
US$330,000 is due upon filing of a FS which includes the Vale do
Sohnos deposit acquired from Glencore and which forms part of the
overall Araguaia project. The consideration has been settled by
issuing 13,855,487 new ordinary shares in the Company (the
"Consideration Shares") at a price of 1.875 pence per share,
representing the 5-day Volume Weighted Average Price ("VWAP") 10
days following the filing of the FS, as per the terms of the
Purchase Agreement.
Upon issue of these shares Glencore will hold approximately
6.11% in the Company.
Settlement and Dealings
Application has been made to the London Stock Exchange for the
Consideration Shares to be admitted to trading on AIM. It is
expected that Admission of the 13,855,487 Consideration Shares will
become effective and dealings in such Consideration Shares will
commence at 8.00 a.m. on 24 January 2019.
The Company is relying upon section 602.1 of the TSX Company
Manual in connection with the issuance of the Consideration Shares,
which exempts the Company from, among other things, obtaining
shareholder approval under sections 604(a)(ii) and 607(g)(ii) of
the TSX Company Manual, on the basis that the issuance of the
Consideration Shares is being completed in accordance with the
standards of AIM and the volume of trading of the Ordinary Shares
on all Canadian marketplaces in the 12 months immediately preceding
the date of the application by the Company to the TSX for
conditional approval of the issuance of the Consideration Shares
was less than 25%.
The Consideration 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.
Total shares in issues
The Company now has 1,446,377,287 Ordinary Shares in issue. The
total number of voting rights is therefore 1,446,377,287 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.
For further information visit www.horizonteminerals.com or
contact:
Horizonte Minerals plc
Jeremy Martin (CEO) +44 (0) 203 356 2901
Numis Securities Ltd (NOMAD & Joint Broker)
John Prior
Paul Gillam +44 (0) 207 260 1000
Shard Capital (Joint Broker)
Damon Heath
Erik Woolgar +44 (0) 20 186 9952
Tavistock (Financial PR)
Emily Fenton
Gareth Tredway +44 (0) 207 920 3150
About Horizonte Minerals:
Horizonte Minerals plc is an AIM and TSX-listed nickel
development company focused in Brazil. The Company is developing
the Araguaia project, as the next major ferronickel mine in Brazil,
and the Vermelho nickel-cobalt project, with the aim of being able
to supply nickel and cobalt to the EV battery market. Both projects
are 100% owned.
Horizonte shareholders include: Teck Resources Limited,
Canaccord Genuity Group, JP Morgan, Lombard Odier Asset Management
(Europe) Limited, City Financial, Richard Griffiths and
Glencore.
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, the ability of the Company to rely upon section 602.1
of the TSX Company Manual and obtain Admission from the London
Stock Exchange for the Consideration Shares to be admitted on the
AIM; 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: the inability of the Company
to obtain the necessary regulatory approvals from the TSX and the
London Stock Exchange as described herein, 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 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 news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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