TIDMTYM

RNS Number : 3724B

Tertiary Minerals PLC

06 October 2015

06 October 2015

Tertiary Minerals plc

("Tertiary" or "the Company")

Placing Raising GBP650,000 to Drive Next Phase of Drilling

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 GBP650,000 before expenses by way of a placing of 28,888,889 new ordinary shares (the "Placing Shares") at 2.25p per share (the "Placing"). The Placing was made via a number of institutional investors. The Placing Shares will rank pari-passu with all existing ordinary shares in the Company.

The Company will use the funds for the continuing evaluation and development of its key fluorspar projects and for general working capital purposes.

The Placing is being made under existing shareholder authorities. Application has been made to the London Stock Exchange for 28,888,889 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 9 October 2015.

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 216,748,106 ordinary shares.

The above figure of 216,748,106 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 very difficult market conditions for resource companies. The funds will allow the Company to maintain momentum on its key fluorspar projects and in particular to commence with the next phase of drilling this winter at our exciting MB fluorspar project in Nevada."

 
 Enquiries 
 
  Tertiary Minerals plc 
  Patrick Cheetham, Executive 
  Chairman 
  Richard Clemmey, Managing 
  Director                         +44 (0)845 868 4580 
 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 
 Yellow Jersey PR Limited 
  Dominic Barretto               +44 (0)7768 537 739

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).

This information is provided by RNS

The company news service from the London Stock Exchange

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October 06, 2015 06:00 ET (10:00 GMT)

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