Bacanora Minerals Ltd Issue of Equity (0370W)
February 06 2017 - 1:00AM
UK Regulatory
TIDMBCN
RNS Number : 0370W
Bacanora Minerals Ltd
06 February 2017
Bacanora Minerals Ltd.
("Bacanora" or the "Company")
Issue of Equity and Exercise of options
Bacanora, the Canadian and London listed (AIM and TSX-V: BCN)
lithium exploration and development company focused on Sonora,
Mexico, announces that the Company has issued 200,000 new Common
Shares in the Company (the "New Shares") pursuant to the exercise
of options at CAN$0.30 each (18.4p).
Application has been made for the 200,000 New Shares to be
admitted to trading on AIM. Admission is expected to occur at 8.00
a.m. on 9 February 2017. The New Shares will rank pari passu with
the existing Common Shares in issue. Following the issue of the New
Shares as outlined above, there will be 110,999,353 Common Shares
in issue. This number 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.
Enquiries please contact:
Bacanora Minerals Ltd. Peter Secker, CEO info@bacanoraminerals.com
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Cairn Financial Advisers Sandy Jamieson / Liam
LLP, Nomad Murray +44 (0) 207 213 0880
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Numis Securities Ltd, John Prior/James Black/Paul
Broker Gillam +44 (0) 20 7260 1000
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St Brides Partners, Frank Buhagiar / Elisabeth
Financial PR Adviser Cowell +44 (0) 20 7236 1177
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Macquarie Capital (Europe)
Limited, Corporate Adviser Raj Khatri +44 (0) 20 3037 2000
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ABOUT BACANORA:
Bacanora is a Canadian and London listed minerals explorer
(TSX-V: BCN and AIM: BCN). The Company explores and develops
industrial mineral projects, with a primary focus on lithium. The
Sonora Lithium Project, which consists of ten mining concession
areas covering approximately 100 thousand hectares in the northeast
of Sonora State. The Company, through drilling and exploration work
to date, has established an Indicated Mineral Resource (in
accordance with National Instrument 43-101 - Standards of
Disclosure for Mineral Projects ("NI 43-101")) of 4.5 million
tonnes (lithium carbonate equivalent) and 2.7 million tonnes
Inferred. A Pre-Feasibility Study completed in Q1 2016 demonstrated
the positive economics associated with becoming a 35,000 tpa
lithium carbonate and 50,000 tpa SOP producer in Mexico. The
Company is led by a team with lithium expertise which have proven
mine development, construction and operational experience.
This information is provided by RNS
The company news service from the London Stock Exchange
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