Vast Resources plc Termination Of Convertible Securities Issuance Deed
February 22 2019 - 1:00AM
UK Regulatory
TIDMVAST
Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
22 February 2019
Vast Resources plc
("Vast" or the "Company")
Termination of Convertible Securities Issuance Deed
Vast Resources plc, the AIM listed mining company with operating mines
in Romania and Zimbabwe, announces that the convertible securities
issuance deed (the "Agreement") between the Company and Bergen Global
Opportunity Fund LP ("Bergen") dated 19 December 2018, the details of
which were notified on 20 December 2018, has been terminated by the
parties by mutual consent, effective as of 21 February 2019.
Following the termination, no further funding will be provided to the
Company under the Agreement.
Brian Moritz, Chairman of Vast, commented:
"Bergen Global Opportunity Fund proved a valuable and flexible funding
partner for Vast. Bergen was a reliable and responsible corporate
citizen at all times during its dealings with Vast, and I wish to thank
the team at Bergen for their support."
**ENDS**
For further information, visit www.vastresourcesplc.com or please
contact:
Vast Resources plc www.vastresourcesplc.com
Andrew Prelea (Chief Executive Officer) +44 (0) 20 7236 1177
Beaumont Cornish - Financial & Nominated Adviser www.beaumontcornish.com
Roland Cornish +44 (0) 020 7628 3396
James Biddle
Brandon Hill Capital Ltd -- Joint Broker www.brandonhillcapital.com
Jonathan Evans +44 (0) 20 3463 5016
SVS Securities Plc -- Joint Broker www.svssecurities.com
Tom Curran +44 (0) 20 3700 0100
Ben Tadd
St Brides Partners Ltd www.stbridespartners.co.uk
Susie Geliher +44 (0) 20 7236 1177
Juliet Earl
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 ("MAR").
Notes
Vast Resources plc is an AIM listed mining and resource development
company focussed on the rapid advancement of high-quality brownfield
projects and recommencing production at previously producing mines in
Romania and Zimbabwe.
Vast Resources currently owns and operates the Manaila Polymetallic Mine
in Romania, which was commissioned in 2015, and is focussed on its
expansion through the development of a second open pit operation and new
metallurgical complex at the Carlibaba Extension Area. The Company's
Romanian portfolio also includes interests in two brownfield development
projects; the Baita Plai Polymetallic Mine (80% interest), which has a
reported 1,800,000-tonne
copper-silver-zinc-lead-gold-tungsten-molybdenum ore body at 6% copper
equivalent (Russian Reserves and Resources Reporting System) within the
mining licence area; and the Blueberry Project (29.41% interest), a
7.285km(2) brownfield area of prospectivity in the Golden Quadrilateral
of Romania located in the immediate vicinity of the now closed Baia de
Aries mine.
The Company also has interests in a number of projects in Zimbabwe
including a controlling 25 per cent. interest in the producing
Pickstone-Peerless Gold Mine, a 23.75% economic interest in the Eureka
Gold Mine, and an 86.67% interest in a SPV which has a due diligence
access agreement and pre-agreed joint venture terms on a diamond
concession within the Marange Diamond Fields, widely considered to be
one of the richest sources of alluvial diamonds globally.
(END) Dow Jones Newswires
February 22, 2019 02:00 ET (07:00 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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