Tertiary Minerals PLC Placing, Issue of Equity & Total Voting Rights (3724B)
October 06 2015 - 5:00AM
UK Regulatory
TIDMTYM
RNS Number : 3724B
Tertiary Minerals PLC
06 October 2015
06 October 2015
Tertiary Minerals plc
("Tertiary" or "the Company")
Placing Raising GBP650,000 to Drive Next Phase of Drilling
Issue of Equity & Total Voting rights
Tertiary Minerals plc, the AIM traded company building a
strategic position in the fluorspar sector, is pleased to announce
that it has raised GBP650,000 before expenses by way of a placing
of 28,888,889 new ordinary shares (the "Placing Shares") at 2.25p
per share (the "Placing"). The Placing was made via a number of
institutional investors. The Placing Shares will rank pari-passu
with all existing ordinary shares in the Company.
The Company will use the funds for the continuing evaluation and
development of its key fluorspar projects and for general working
capital purposes.
The Placing is being made under existing shareholder
authorities. Application has been made to the London Stock Exchange
for 28,888,889 ordinary shares of 1 pence in Tertiary to be
admitted to trading on AIM ("Admission"), and it is expected that
Admission will occur on or around 9 October 2015.
In accordance with Financial Conduct Authority's Disclosure and
Transparency Rules ("DTR"), following the issue and Admission, the
total issued share capital of the Company with voting rights will
be 216,748,106 ordinary shares.
The above figure of 216,748,106 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 in their interest in, the share capital of
the Company under the DTR.
Richard Clemmey, Managing Director of the Company, commented
today: "The Company is pleased to be able to raise funds in very
difficult market conditions for resource companies. The funds will
allow the Company to maintain momentum on its key fluorspar
projects and in particular to commence with the next phase of
drilling this winter at our exciting MB fluorspar project in
Nevada."
Enquiries
Tertiary Minerals plc
Patrick Cheetham, Executive
Chairman
Richard Clemmey, Managing
Director +44 (0)845 868 4580
SP Angel Corporate Finance
LLP
Nominated Adviser & Joint
Broker
Ewan Leggat / Tercel
Moore +44 (0) 20 3470 0470
Beaufort Securities Ltd
Joint Broker
Jon Belliss / Elliot
Hance +44 (0)20 7382 8300
Yellow Jersey PR Limited
Dominic Barretto +44 (0)7768 537 739
Notes to Editors
Tertiary Minerals plc (ticker symbol 'TYM') is an AIM-quoted
mineral exploration and development company building a significant
strategic position in the fluorspar sector. Fluorspar is an
essential raw material in the chemical, steel and aluminium
industries. Tertiary controls two significant Scandinavian projects
(Storuman in Sweden and Lassedalen in Norway) and a large deposit
of strategic significance in Nevada USA (MB Project).
This information is provided by RNS
The company news service from the London Stock Exchange
END
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