TIDMBZM

RNS Number : 2223J

Bellzone Mining PLC

03 December 2018

3 December 2018

Bellzone Mining plc

("Bellzone" or "the Company")

Funding Update and Suspension of trading of shares

Further to the Company's announcements of 27 September 2018, 22 October 2018, and 15 November the Company announces that it continues discussions to raise further funds but at present there has been no definitive agreement entered into to provide further working capital.

One avenue the Company has been pursuing is its discussions with its largest shareholder, Hudson Global Group Limited ("Hudson"), regarding the provision of further finance. Hudson has today informed the Company it is no longer considering providing any additional funding.

The Company is now looking to monetise its Konta Port asset with an interested party.

The Company's working capital position remains tight and there remains the risk that unless further funds are sourced in the very near term then the Company will need to invoke an insolvency procedure.

Whilst the Company pursues this opportunity as a means of avoiding an insolvency procedure, it has requested and been granted a suspension of the trading of its shares on AIM pending clarification of its financial position.

Enquiries:

 
 Bellzone Mining plc 
 Simon Edwards                       +44 (0) 7767 492 712 
                                      simon.edwards@bellzone.com 
 
 WH Ireland Limited 
 Nominated Advisor & Joint Broker 
 James Joyce / Jessica Cave          +44 (0) 20 7220 1666 
 SVS Securities plc 
 Joint Broker 
  Tom Curran / Ben Tadd / Nick 
  Aitchison                            +44 (0) 20 3700 0100

http://www.bellzone.com/

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

MSCEAEADELLPFFF

(END) Dow Jones Newswires

December 03, 2018 06:01 ET (11:01 GMT)

Bellzone Mining (LSE:BZM)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more Bellzone Mining Charts.
Bellzone Mining (LSE:BZM)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more Bellzone Mining Charts.