Bezant Resources PLC Completion of Acquisition of Colombian Mining Data (6565M)
October 17 2016 - 1:00AM
UK Regulatory
TIDMBZT
RNS Number : 6565M
Bezant Resources PLC
17 October 2016
17 October 2016
Bezant Resources Plc
("Bezant" or the "Company")
Completion of Acquisition of Colombian Mining Data S.A.
(formerly named Birkenhead Estates S.A.) and Issue of Equity
Bezant (AIM: BZT), the AIM quoted mineral exploration and
development company, is pleased to announce that, further to its
announcements of 7 September 2016 and 28 September 2016, the
Company has now completed the acquisition of 100 per cent. of
Colombian Mining Data S.A. ("CMD"), formerly named Birkenhead
Estates S.A.
CMD is a special purpose vehicle which holds, inter alia,
certain proprietary geological information and other data and
intellectual property rights to be utilised by Exumax S.A.S.
("Exumax") in performing its services under the exploration
agreement, further details of which were announced on 7 September
2016 (the "Exploration Agreement"). The Exploration Agreement
secured the exploration and management services of Exumax, a
Colombian based alluvial mining company, in respect of a planned
24-month exploration and development programme for the Company's
near surface platinum and gold assets located in the Choco Region
of Colombia over which it holds certain options.
In accordance with the terms of the share purchase agreement
between (i) the Company, (ii) Verona Investment Group Inc.
("Verona") and (iii) the founders of Verona, the Company is issuing
7,201,745 new ordinary shares of 0.2 pence each in the capital of
the Company ("Ordinary Shares") (the "Consideration Shares") to
Verona representing approximately 3.51 per cent. of the Company's
enlarged issued share capital.
Application to trading on AIM
Application has been made to the London Stock Exchange for
admission of the Consideration Shares to trading on AIM
("Admission"). It is expected that Admission will become effective
and that dealings in the Consideration Shares will commence at 8.00
a.m. on or around 19 October 2016.
Following Admission, the Company's total issued share capital
will consist of 204,953,507 Ordinary Shares with voting rights. The
Company does not hold any Ordinary Shares in treasury and
accordingly there are no voting rights in respect of any treasury
shares. The Consideration Shares will be fully paid and will rank
pari passu in all respects with the Company's existing Ordinary
Shares.
On Admission, the above figure of 204,953,507 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 to their interest in,
Bezant under the Financial Conduct Authority's Disclosure and
Transparency Rules.
For further information, please contact:
Bezant Resources Plc
Bernard Olivier Tel: +61 40 894 8182
Chief Executive Officer
Laurence Read Tel: +44 (0)20 3289 9923
Executive Director / Communications
Officer
Strand Hanson Limited (Nomad) Tel: +44 (0)20 7409 3494
James Harris / Matthew Chandler
/ James Dance
Beaufort Securities Limited Tel: +44 (0)20 7382 8300
(Broker)
Elliot Hance
or visit http://www.bezantresources.com
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014 ("MAR").
Notes to Editors:
Bezant is an AIM quoted mineral exploration and development
company with operations in Colombia, the Philippines and Argentina.
The Company's ordinary shares of 0.2 pence each are traded under
the ticker AIM: BZT, with identification code GB00B1CKQD97.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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