LONDON, Oct. 14, 2015 /CNW/ - Horizonte Minerals
Plc, (AIM: HZM, TSX: HZM) ('Horizonte', 'HZM' or 'the Company' or
'the Reporting Issuer') the nickel development company focused
in Brazil, confirms that, further
to the announcements made on 2 and 9 October
2015, on 14 October 2015,
Richard Griffiths and Controlled
Undertakings ("the Offeror") acquired direct ownership of
42,500,000 Units (the 'Units') of the Reporting Issuer at a
price of 1 pence GBP (CAD 2 cents) per Unit pursuant to the terms of a
private placement. Each Unit was comprised of one ordinary share.
After giving effect to the purchase of Units, Richard Griffiths and Controlled Undertakings
owns, in the aggregate, 99,839,049 common shares of the Reporting
Issuer, representing approximately 15.4% of the total shares issued
and outstanding as at the date hereof.
The Offeror acquired the Units for investment purposes, and has
no current intention to increase the beneficial ownership of, or
control or direction over, securities of the Reporting Issuer.
These investments will be reviewed on a continuing basis and
holdings may be increased or decreased in the future.
The Company has received conditional approval of the Placing
from the Toronto Stock Exchange, with reliance upon the exemption
in Section 602.1 of the TSX Company Manual.
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 Carajas mineral district of northern Brazil.
The Company is developing Araguaia as the next major nickel mine
in Brazil, with targeted
production by 2019.
The Araguaia Project, which has excellent infrastructure in
place including rail, road, water and power, has a current NI
43-101 Mineral Resource of 71.98Mt grading 1.33% Ni (Indicated) and
25.4Mtat 1.21% Ni (Inferred) at a 0.95% nickel cut-off; included in
Resources is a Probable Reserve base of 21.2Mt at 1.66%Ni.
The Prefeasibility Study has been completed which underpins the
robust economics of developing a mine with a targeted 15,000tpa
nickel in ferro-nickel output with a 20% Fe-Ni product over a 25
year mine life utilising the proven pyrometallurgical process of
Rotary Kiln Electric Furnace technology. At these production
rates, the project has a post-tax NPV of US$519m at a discount rate of 8% and an IRR of
20%, with a capital cost of US$582m
which puts this project in the lowest quartile of the cost
curve.
PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, IN THE UNITED STATES
OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR
DISTRIBUTION WOULD BE UNLAWFUL.
The distribution of this Announcement and the Placing of the
Placing Shares in certain jurisdictions may be restricted by law.
No action has been taken by the Company that would permit an
offering of such shares or possession or distribution of this
Announcement or any other offering or publicity material relating
to such shares in any jurisdiction where action for that purpose is
required. Persons into whose possession this announcement comes are
required by the Company to inform themselves about, and to observe,
such restrictions.
The information in this Announcement shall not constitute an
offer to sell or the solicitation of an offer to buy, nor shall
there be any sale of, the securities referred to herein in any
jurisdiction in which such offer, solicitation or sale would
require preparation of any prospectus or other offer documentation,
or be unlawful prior to registration, exemption from registration
or qualification under the securities laws of any such
jurisdiction.
No public offer of securities of the Company is being made in
the United Kingdom, the United States, Canada or elsewhere. The information in this
Announcement does not constitute or form a part of any offer or
solicitation to purchase or subscribe for securities in
the United States. The securities
mentioned herein have not been, and will not be, registered under
the United States Securities Act of 1933 (the "Securities Act") nor
the security laws of any state or other jurisdiction of
the United States. The securities
mentioned herein may not be offered or sold in the United States except pursuant to
Regulation S under the Securities Act or another exemption from, or
transaction not subject to, the registration requirements of the
Securities Act. There will be no public offer of securities in
the United States.
CAUTIONARY STATEMENT REGARDING FORWARD LOOKING
INFORMATION
Except for statements of historical fact
relating to the Company, certain information contained in this
announcement constitutes "forward-looking information" under
Canadian and other securities legislation. Forward-looking
information includes, but is not limited to, statements with
respect to the expected date of issue of the remaining
42,500,000 HMZ Shares to be allotted pursuant to the
Placing, 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 final approval of the
Toronto Stock Exchange not being obtained, 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. The Company does not undertake to update
any forward-looking statements or forward-looking information that
is included herein, except in accordance with applicable securities
laws.
SOURCE Horizonte Minerals plc