Tertiary Minerals PLC Placing to Raise £300,000 (4251G)
May 26 2017 - 10:20AM
UK Regulatory
TIDMTYM
RNS Number : 4251G
Tertiary Minerals PLC
26 May 2017
26 May 2017
Tertiary Minerals plc ("Tertiary" or "the Company")
Placing to Raise GBP300,000
Tertiary Minerals plc, the AIM traded company building a
strategic position in the fluorspar sector, is pleased to announce
that it has raised GBP300,000 before expenses by way of a placing
of 50,000,000 new ordinary shares (the "Placing Shares") at 0.6
pence per share (the "Placing"). The Placing Shares will rank
pari-passu with all existing ordinary shares in the Company.
The Company is planning to use the funds for working capital and
project work, to include:
Project Acquisition
-- Progressing the evaluation and due diligence of acquisition opportunities
Storuman Fluorspar Project, Sweden
-- Progressing the re-assessment process of the Exploitation
(Mine) Permit by the Swedish Mining Inspectorate
MB Fluorspar Project, Nevada, USA
-- Scoping Study level bench scale metallurgical testwork and modelling
Lassedalen Fluorspar Project, Norway
-- Due Diligence for the purchase of land and old fluorspar mine
workings from Hydro - Lassedalen Fluorspar Project, Norway
The Placing is being made under existing shareholder
authorities. Application will be made to the London Stock Exchange
for 50,000,000 ordinary shares of 0.01 pence in Tertiary to be
admitted to trading on AIM ("Admission"), and it is expected that
Admission will occur on or around 02 June 2017.
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 317,076,933 ordinary shares.
The above figure of 317,076,933 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: "We are pleased with the continued investor interest in the
Company and the placing will provide working capital to progress
with the evaluation and due diligence of acquisition opportunities
and the continued development of its fluorspar projects."
Enquiries
Tertiary Minerals plc
Richard Clemmey, Managing
Director
Patrick Cheetham, Executive
Chairman +44 (0) 1625 838 679
SP Angel Corporate Finance
LLP
Nominated Adviser & Joint
Broker
Ewan Leggat/Lindsay Mair +44 (0) 20 3470 0470
Beaufort Securities Ltd
Joint Broker
Elliot Hance +44 (0)20 7382 8300
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement
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
IOEOKADDQBKDQPB
(END) Dow Jones Newswires
May 26, 2017 10:20 ET (14:20 GMT)
Tertiary Minerals (LSE:TYM)
Historical Stock Chart
From Feb 2024 to Mar 2024
Tertiary Minerals (LSE:TYM)
Historical Stock Chart
From Mar 2023 to Mar 2024