TIDMTYM TIDMSRES

RNS Number : 3793R

Tertiary Minerals PLC

08 March 2016

08 March 2016

Tertiary Minerals plc

("Tertiary" or "the Company")

Issue of Shares by Sunrise Resources PLC

Tertiary Minerals plc, the AIM traded company ("the Company") building a strategic position in the fluorspar sector, is pleased to announce that on 7 March 2016 the Board of Sunrise Resources PLC ("Sunrise") resolved to issue 49,298,406 new ordinary shares of 0.1p each of Sunrise ("the New Shares") to Tertiary in settlement of management fees of GBP86,272.21 due to the Company for the six month period ended 31 December 2015.

Since the formation of Sunrise, Tertiary has provided, and continues to provide, Sunrise with office facilities and company and project management services at cost. This cost sharing arrangement works to the benefit of both companies and enables them to be run with reduced overheads.

Following the issue of the New Shares, Tertiary will hold 102,234,999 ordinary shares of Sunrise, representing an interest of approximately 13.70% of the enlarged issued capital of Sunrise.

Application will be made for the New Shares to be admitted to trading on AIM. Admission is expected to occur on 14 March 2016.

 
 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)20 3470 0470 
 Beaufort Securities Ltd 
  Joint Broker 
  Jon Belliss / Elliot 
  Hance                            +44 (0)20 7382 8300

Notes to Editors

Tertiary Minerals plc (ticker symbol 'TYM') is an AIM-quoted 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

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March 08, 2016 06:00 ET (11:00 GMT)

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