Tertiary Minerals PLC Placing, Issue of Equity & Total Voting Rights (3279Z)
26 May 2016 - 4:01PM
UK Regulatory
TIDMTYM
RNS Number : 3279Z
Tertiary Minerals PLC
26 May 2016
26 May 2016
Tertiary Minerals plc
("Tertiary" or "the Company")
Placing to Raise GBP500,000
Issue of Equity & Total Voting Rights
Tertiary Minerals plc, the AIM traded company building a
strategic position in the fluorspar sector, is pleased to announce
that it has raised GBP500,000 before expenses by way of a placing
of 50,000,000 new ordinary shares (the "Placing Shares") at 1p per
share (the "Placing"). The Placing was made via a single
institutional investor. The Placing Shares will rank pari-passu
with all existing ordinary shares in the Company.
The Company is planning to use the majority of the funds for
continuing the evaluation and development of its key fluorspar
projects, project work to include:
-- MB Project, Nevada USA
o Metallurgical Testwork
o Economic Modelling
o Scoping Study
o Mine Permit Planning
-- Storuman Project, Sweden
o Handling the Appeal process for the Exploitation (Mine) Permit
granted on the 18 February 2016
The Placing is being made under existing shareholder
authorities. Application has been made to the London Stock Exchange
for 50,000,000 ordinary shares of 1 pence in Tertiary to be
admitted to trading on AIM ("Admission"), and it is expected that
Admission will occur on or around 10 June 2016.
In accordance with Financial Conduct Authority's Disclosure and
Transparency Rules ("DTR"), following the issue and Admission, the
total issued share capital of the Company with voting rights will
be 266,845,276 ordinary shares.
The above figure of 266,845,276 ordinary shares may be used by
shareholders in the Company as the denominator for the calculations
by which they will determine if they are required to notify their
interest in, or a change in their interest in, the share capital of
the Company under the DTR.
Richard Clemmey, Managing Director of the Company, commented
today: "The Company is pleased to be able to raise funds in
challenging market conditions for resource companies. The funds
will allow the Company to maintain progress on its key fluorspar
projects towards production, in particular to move forward with the
development studies at our large MB fluorspar project in
Nevada."
Enquiries
Tertiary Minerals plc
Patrick Cheetham, Executive
Chairman
Richard Clemmey, Managing
Director +44 (0)1625 838 679
SP Angel Corporate Finance
LLP
Nominated Adviser & Joint
Broker
Ewan Leggat / Tercel
Moore +44 (0)203 470 0470
Beaufort Securities Ltd
Joint Broker
Elliot Hance +44 (0)207 382 8300
Notes to Editors
Tertiary Minerals plc (ticker symbol 'TYM') is an AIM-traded
mineral exploration and development company building a significant
strategic position in the fluorspar sector. Fluorspar is an
essential raw material in the chemical, steel and aluminium
industries. Tertiary controls two significant Scandinavian projects
(Storuman in Sweden and Lassedalen in Norway) and a large deposit
of strategic significance in Nevada USA (MB Project).
CAUTIONARY NOTICE
The news release may contain certain statements and expressions
of belief, expectation or opinion which are forward looking
statements, and which relate, inter alia, to the Company's proposed
strategy, plans and objectives or to the expectations or intentions
of the Company's directors. Such forward-looking statements involve
known and unknown risks, uncertainties and other important factors
beyond the control of the Company that could cause the actual
performance or achievements of the Company to be materially
different from such forward-looking statements. Accordingly, you
should not rely on any forward-looking statements and save as
required by the AIM Rules for Companies or by law, the Company does
not accept any obligation to disseminate any updates or revisions
to such forward-looking statements.
This information is provided by RNS
The company news service from the London Stock Exchange
END
IOESEUFMIFMSELI
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