Arc Minerals Limited Result of Placing (3175T)
March 24 2021 - 03:53AM
UK Regulatory
TIDMARCM
RNS Number : 3175T
Arc Minerals Limited
24 March 2021
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF REGULATION 596/2014. IN ADDITION, MARKET SOUNDINGS
WERE TAKEN IN RESPECT OF THE MATTERS CONTAINED IN THIS
ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN PERSONS BECAME AWARE OF
SUCH INSIDE INFORMATION. UPON THE PUBLICATION OF THIS ANNOUNCEMENT,
THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC
DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION
OF INSIDE INFORMATION.THIS ANNOUNCEMENT, INCLUDING THE APPENDIX,
AND THE INFORMATION CONTAINED HEREIN ARE RESTRICTED AND ARE NOT FOR
PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR
INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH
AFRICA OR ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT
CONSTITUTE AN OFFER TO SELL OR ISSUE OR A SOLICITATION OF OFFERS TO
BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY SECURITIES IN ANY
JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE
UNLAWFUL, INCLUDING THE UNITED STATES, AUSTRALIA, CANADA, JAPAN,
THE REPUBLIC OF IRELAND OR THE REPUBLIC OF SOUTH AFRICA. NEITHER
THIS ANNOUNCEMENT NOR ANYTHING CONTAINED HEREIN SHALL FORM THE
BASIS OF, OR BE RELIED UPON IN CONNECTION WITH, ANY SUCH OFFER,
SOLICITATION OR COMMITMENT WHATSOEVER IN ANY SUCH JURISDICTION.
THIS ANNOUNCEMENT SHOULD BE READ IN ITS ENTIRETY. IN PARTICULAR,
YOU SHOULD READ AND UNDERSTAND THE INFORMATION PROVIDED IN IN THE
APPENDIX.
THE CONTENT OF THIS ANNOUNCEMENT HAS NOT BEEN APPROVED BY AN
AUTHORISED PERSON WITHIN THE MEANING OF THE FINANCIAL SERVICES AND
MARKETS ACT 2000, AS AMENDED. RELIANCE ON THIS ANNOUNCEMENT FOR THE
PURPOSE OF ENGAGING IN ANY INVESTMENT ACTIVITY MAY EXPOSE AN
INDIVIDUAL TO A SIGNIFICANT RISK OF LOSING ALL OF THE PROPERTY OR
OTHER ASSETS INVESTED.
24 March 2021
Arc Minerals Ltd
('Arc' or the 'Company')
Result of Placing
The Company is pleased to announce that it has raised gross
proceeds of GBP1.8 million as result of the fundraising announced
on 24 March 2021(the "Announcement") (the "Fundraising").
A total of 27,692,303 new ordinary shares in the capital of the
Company ("New Ordinary Shares") have been placed by WH Ireland
Limited with new and existing investors (the "Placing") at a price
of 6.5 pence per share (the "Issue Price").
As set out in the Announcement, the Company intends that the net
proceeds of the Placing will be used for working capital; to fund
extra deep drilling at the Company's projects of Cheyeza and
Muswema; for a potential Zamsort stake increase, subject to
negotiations; and to fund data acquisition and drilling in Botswana
if the acquisition set out in the Announcement completes.
As also previously announced, application has been made to
London Stock Exchange plc for the New Ordinary Shares to be
admitted to trading on AIM. It is expected that admission will be
effective, and dealings in the New Ordinary Shares will commence,
at 8.00 a.m. on 30 March 2021.
For the purposes of the Financial Conduct Authority's Disclosure
and Transparency Rules ("DTRs"), the issued ordinary share capital
of the Company following Admission will consist of 1,076,857,239
Ordinary Shares with voting rights attached (one vote per Ordinary
Share). There are no Ordinary Shares held in treasury. This total
voting rights figure may be used by shareholders as the denominator
for the calculations by which they will determine whether they are
required to notify their interests in, or a change to their
interest in, the Company under the DTRs.
For further information please contact:
Contacts
Arc Minerals Ltd +44 (0) 20 7917
Nick von Schirnding (Executive Chairman) 2942
SP Angel (Nominated Adviser & Joint Broker)
Ewan Leggat / Adam Cowl +44 (0) 20 3470 0470
WH Ireland Limited (Joint Broker)
Harry Ansell / Katy Mitchell +44 (0) 20 7220 1666
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