Shefa Yamim (A.T.M.) Ltd Fundraising (7833F)
31 October 2018 - 6:00PM
UK Regulatory
TIDMSEFA
RNS Number : 7833F
Shefa Yamim (A.T.M.) Ltd
31 October 2018
B"H
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014 ("MAR"). Upon the
publication of this announcement via a Regulatory Information
Service ("RIS"), this inside information is now considered to be in
the public domain.
31 October 2018
Shefa Yamim (A.T.M.) Ltd
("Shefa Yamim" or the "Company")
Cash Subscription of GBP250,000
Shefa Yamim (LSE: SEFA), a precious stone exploration company in
Northern Israel, announces that it has raised approximately
GBP250,000 cash (before expenses) through the subscription by new
and existing investors (the "Subscription") of 312,500 new ordinary
shares ("Subscription Shares") at a placing price of 80p per
ordinary share (the "Subscription Price").
Pursuant to the Subscription, the Company will issue to the
holders of the Subscription Shares one warrant to subscribe for one
new Ordinary Share for every Subscription Share subscribed for by
them with an exercise price of 100p (the "Warrants"), exercisable
for a period of eighteen months from the date of the admission to
trading ("Admission") of the Subscription Shares. The Subscription
is conditional only on Admission.
The net proceeds of the Subscription will be used by Shefa Yamim
to advance its project in Zone 1 of the Kishon Mid-Reach Area
towards trial mining, make progress with bulk sampling in Zone 2 of
the Kishon Mid-Reach Area and for working capital purposes.
As announced in July 2018, Shefa Yamim appointed Paradigm
Project Management (Pty) Ltd ("PPM"), to conduct a Technical
Economic Evaluation ("TEE") of its advanced alluvial exploration
target, the Kishon Mid-Reach Zone 1. The TEE report is progressing
and along with the work currently being done by world renowned
jewellery designer Yossi Harari, the Company is at an advanced
stage of building the economic profile as the Company progresses
towards trial mining.
Voting Rights
Application will be made for the 312,500 Subscription Shares to
be listed on the Standard Listing segment of the Official List of
the Financial Conduct Authority and to trading on the London Stock
Exchange's main market for listed securities. Admission is expected
to become effective at 8.00 a.m. on 6 November 2018. The New
Ordinary Shares will rank pari passu in all respects with the
Company's existing ordinary shares.
Following Admission, the total issued share capital will consist
of 14,236,426 Ordinary Shares. As such, the total number of voting
rights in the Company will be 14,236,426 Ordinary Shares. This
number may be used by shareholders as the denominator for the
calculations by which they will determine if they are required to
notify their interest in, or a change to their interest in, the
Company under the FCA's Disclosure and Transparency Rules.
Enquiries
Shefa Yamim (A.T. M.) Ltd
Avi Taub, Chief Executive Officer
www.shefayamim.com +44 20 7618 9100
-----------------
VSA Capital Limited - Financial Adviser
and Broker
-----------------
Andrew Raca +44 20 3005 5000
-----------------
Daniel Stewart & Company - Joint Broker
-----------------
Jon Levinson, Richard Potts +44 20 7796 4648
-----------------
Luther Pendragon
-----------------
Harry Chathli, Alexis Gore +44 20 7618 9100
-----------------
Notes to Editors
About Shefa Yamim (A.T.M.)
Shefa Yamim is a multi-commodity precious stone exploration and
prospecting Company in Northern Israel. It has two flagship
projects, Mount Carmel (volcanic primary bedrock sources of
gemstone and industrial minerals) and the Kishon Mid Reach
(secondary alluvial placer deposits hosting the gemstone and
industrial minerals derived from primary bodies).
After 18 years of exploration in a "greenfields" terrain, Shefa
Yamim established a "Source to Sink" geological model and the
presence of a Target Mineral Assemblage ("TMA") in both primary
volcanic sources and in secondary alluvial deposits lying within
the Kishon catchment, on Mount Carmel and in the Ramot Menashe
area.
The TMA comprises gemstones and industrial minerals. The
gemstones collectively make up the "Gem Box" suite, comprised of
diamond (rare and small macro-diamond to microdiamond sizes),
natural moissanite (that is rare globally), sapphire, ruby, Carmel
Sapphire(TM) (a new sapphire type found, to date, only in northern
Israel), hibonite (another rare gem), garnet, ilmenite and spinel.
The heavy industrial minerals constitute the "HIM" suite hosting
zircon (which may be gem grade at larger sizes) and rutile.
www.shefayamim.com
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END
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