TIDMMYX TIDMTTM
RNS Number : 4975R
MyCelx Technologies Corporation
28 February 2019
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY
THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER
THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014. UPON THE
PUBLICATION OF THIS ANNOUNCEMENT (THE "ANNOUNCEMENT") VIA A
REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS
NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
THIS ANNOUNCEMENT IS NOT FOR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, TO ANY US PERSONS OR IN OR INTO THE UNITED STATES,
CANADA, AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA.
MYCELX Technologies Corporation
("MYCELX" or the "Company")
Results of Fundraising
MYCELX Technologies Corporation (MYX LN), the clean water
technology company providing patented solutions for the Oil and Gas
market and commercial industrial markets worldwide traded on London
Stock Exchange's AIM market, is pleased to announce the result of
the Placing and Subscription announced earlier today.
A total of 577,246 New Common Shares in the Company have been
placed by Cantor Fitzgerald Europe at a price of 230 pence per
share (the "Issue Price") raising gross proceeds of $1.75 million.
Together with the proceeds of the Subscription for 26,387 New
Common Shares at the Issue Price raising gross proceeds of $80,000,
the Company has raised a total of $1.83 million to fund its
expansion.
The Issue Price represents a discount of 6.1 per cent. to the
Company's mid-market closing price as at 27 February 2019, being
the last practicable date prior to the publication of the
announcement of the Fundraising.
Admission and Total Voting Rights
Application has been made to the London Stock Exchange for the
New Common Shares to be admitted to trading on AIM ("Admission").
It is expected that Admission will become effective at 08.00 a.m.
on 13 March 2019.
Upon Admission, the New Common Shares will trade in the
Company's new restricted line of Common Shares under the ticker
MYXR, and the New Common Shares, as represented by Depositary
Interests, will be held in the CREST system and will be segregated
into a separate trading system within CREST identified with the
market "REG S" and ISIN USU624551151. The Company also maintains an
unrestricted line of Common Shares trading under the existing
symbol MYX.
Following the issue of the 603,633 New Common Shares, the
Company's issued share capital will comprise 19,411,250 Common
Shares. The total number of voting rights in the company will be
19,411,250. This figure may be used by shareholders 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, the share capital of the Company under the Disclosure
Guidance and Transparency Rules of the Financial Conduct
Authority.
Related party transactions
City Financial Investment Company Limited and Canaccord Genuity
Wealth Limited are substantial shareholders of the Company (the
"Substantial Shareholders") and therefore classified as related
parties under the AIM Rules for Companies ("AIM Rules"). Tim Eggar,
Connie Mixon and Andre Schnabl (the "Participating Directors") are,
by virtue of their directorships of the Company, also related
parties of the Company under the AIM Rules. The Substantial
Shareholders and Participating Directors (together the "Related
Parties") are participating in the Fundraising and their
participation in the Fundraising is considered a related party
transaction under the AIM Rules.
The independent directors of the Company, having consulted with
the Company's nominated adviser, Cantor Fitzgerald Europe, consider
that the terms of the Related Parties' participation in the
Fundraising is fair and reasonable insofar as the Company's
Shareholders are concerned.
The Related Parties' interest in the Company, following
Admission, will be:
Related Party Current Shareholding Shares being Shareholding Percentage
acquired pursuant following holding
to the Fundraising Admission following
Admission
City Financial
Investments
Company Limited 3,574,938 82,463 3,657,401 18.84%
Canaccord
Genuity Wealth
Limited 2,639,507 494,783 3,134,290 16.15%
Andre Schnabl - 8,246 8,246 0.04%
Connie Mixon 991,211 16,492 1,007,703 5.19%
Tim Eggar 130,680 1,649 132,329 0.68%
Connie Mixon, CEO of MYCELX, said:
"I am pleased to announce the successful closing of this capital
raise that will fund the purchase of additional revenue-generating
assets for MYCELX. The Company has a strong track record of project
delivery and we achieved significant growth in 2018. The purchase
of these assets will enable us to accelerate and exploit the
opportunities we see before us, as we continue to convert our
pipeline into purchase orders and build on the strong momentum we
have achieved to date globally."
All capitalised terms in this announcement are as defined in the
Company's announcement released at 07.00 a.m. this morning.
For further information, please contact:
MYCELX Technologies Corporation
Connie Mixon, Chief Executive Officer +1 770 534 3118
Kim Slayton, Chief Financial Officer
Cantor Fitzgerald Europe (NOMAD,
Broker and Bookrunner)
David Porter
Richard Salmond +44 207 894 7000
Celicourt Communications
Mark Antelme +44 20 7520 9266
Jimmy Lea
About MYCELX
MYCELX is a revolutionary oil-free water technology company
solving the world's toughest oil removal problems in the oil and
gas industry. The systems are based upon scientific breakthrough
for a completely different approach to permanent oil removal. The
Company created the patented MYCELX polymer using innovative
molecular cohesion for removing oil from water far beyond what
conventional systems have ever achieved. MYCELX systems remove oil
to critically low levels in a much smaller physical footprint than
conventional systems. Learn more about the Company by visiting
https://www.MYCELX.com/.
Appendix - PDMR Dealing Disclosure:
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Connie Mixon
------------------------------- ---------------------------------------
2. Reason for the Notification
------------------------------------------------------------------------
a) Position/status Chief Executive Officer
------------------------------- ---------------------------------------
b) Initial notification/Amendment Initial Notification
------------------------------- ---------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------
a) Name MYCELX Technologies Corporation
------------------------------- ---------------------------------------
b) LEI 213800UJZINIK2VD1G48
------------------------------- ---------------------------------------
4. Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
------------------------------------------------------------------------
a) Description of Common shares of $0.025 each
the Financial
instrument, type
of instrument
Identification USU624551151
code
------------------------------- ---------------------------------------
b) Nature of the Purchase of shares
transaction
------------------------------- ---------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
230 pence 16,492 (bought)
----------------
------------------------------- ---------------------------------------
d) Aggregated information: 16,492 common shares of $0.025 each
* Aggregated volume ("Common Shares") at an average price
of 230 pence per share
* Price
------------------------------- ---------------------------------------
e) Date of the transaction 28 February 2019
------------------------------- ---------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------- ---------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Tim Eggar
------------------------------- --------------------------------------------
2. Reason for the Notification
-----------------------------------------------------------------------------
a) Position/status Non-Executive Chairman
------------------------------- --------------------------------------------
b) Initial notification/Amendment Initial Notification
------------------------------- --------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------
a) Name MYCELX Technologies Corporation
------------------------------- --------------------------------------------
b) LEI 213800UJZINIK2VD1G48
------------------------------- --------------------------------------------
4. Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
-----------------------------------------------------------------------------
a) Description of Common shares of $0.025 each
the Financial
instrument, type
of instrument
Identification USU624551151
code
------------------------------- --------------------------------------------
b) Nature of the Purchase of shares
transaction
------------------------------- --------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
230 pence 1,649 (bought)
---------------
------------------------------- --------------------------------------------
d) Aggregated information: 1,649 common shares of $0.025 each ("Common
* Aggregated volume Shares") at an average price of 230
pence per share
* Price
------------------------------- --------------------------------------------
e) Date of the transaction 28 February 2019
------------------------------- --------------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------- --------------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Andre Schnabl
------------------------------- --------------------------------------------
2. Reason for the Notification
-----------------------------------------------------------------------------
a) Position/status Non-Executive Director
------------------------------- --------------------------------------------
b) Initial notification/Amendment Initial Notification
------------------------------- --------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------
a) Name MYCELX Technologies Corporation
------------------------------- --------------------------------------------
b) LEI 213800UJZINIK2VD1G48
------------------------------- --------------------------------------------
4. Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
-----------------------------------------------------------------------------
a) Description of Common shares of $0.025 each
the Financial
instrument, type
of instrument
Identification USU624551151
code
------------------------------- --------------------------------------------
b) Nature of the Purchase of shares
transaction
------------------------------- --------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
230 pence 8,246 (bought)
---------------
------------------------------- --------------------------------------------
d) Aggregated information: 8,246 common shares of $0.025 each ("Common
* Aggregated volume Shares") at an average price of 230
pence per share
* Price
------------------------------- --------------------------------------------
e) Date of the transaction 28 February 2019
------------------------------- --------------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------- --------------------------------------------
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END
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