Tertiary Minerals PLC Placing to Raise GBP275,000 (0517E)
25 Febbraio 2020 - 11:11AM
UK Regulatory
TIDMTYM
RNS Number : 0517E
Tertiary Minerals PLC
25 February 2020
25 February 2020
Tertiary Minerals plc ("Tertiary Minerals plc" or the
"Company")
Placing to Raise GBP275,000
Tertiary Minerals plc is pleased to announce that it has raised
GBP275,000 before expenses by way of a placing (the "Placing") of
100,000,000 new ordinary shares (the "Placing Shares") at 0.275
pence per share (the "Placing"). The Placing Shares will rank
pari-passu with all existing ordinary shares in the Company. The
Placing was arranged through Peterhouse Capital Limited
("Peterhouse") which has been appointed as a joint broker to the
Company.
The funds raised will provide additional working capital for the
Company and to fund development work for its projects, priorities
to include:
Pyramid Gold Project, Nevada, USA
-- Commence drilling, initially seeking to confirm priority epithermal vein target:
-- Drill hole PYR 9 - intersected visible gold and assayed 1.52m
grading 17.8 g/t Au from 94.5m down hole
-- PYR 9 ended in 1.52m grading 2.6 g/t Au at 115.8m depth
Paymaster Polymetallic Project, Nevada
-- Geological Mapping
-- Infill soil sampling
-- Geophysical survey
The Placing is being made under existing shareholder
authorities. Application will be made to the London Stock Exchange
for 100,000,000 ordinary shares of 0.01 pence in Tertiary to be
admitted to trading on AIM ("Admission"), and it is expected that
Admission will occur on or around 02 March 2020. Peterhouse will be
issued with 5,000,000 warrants, each warrant entitling the holder
to apply for one new Ordinary Share at the Placing Price at any
time within 12 months from the date of issue.
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 733,433,448 ordinary shares.
The above figure of 733,433,448 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: "We are very pleased to have attracted new investor interest
in the Company and now have have sufficient funding for the near
term and to execute the first drill hole on our exciting Pyramid
Gold Project in Nevada ."
For more information please contact:
Tertiary Minerals plc:
Richard Clemmey, Managing Director +44 (0) 1625 838 679
------------------------------
Patrick Cheetham, Chairman
------------------------------
SP Angel Corporate Finance LLP
Nominated Adviser and Broker
Richard Morrison +44 (0) 203 470 0470
------------------------------
Caroline Rowe
------------------------------
Peterhouse Capital Limited
Joint Broker
Lucy Williams + 44 (0) 207 469 0930
-------------------------------
Duncan Vasey
------------------------------
About Tertiary Minerals plc
Tertiary Minerals plc (ticker symbol 'TYM') is an AIM-traded
mineral exploration company building and developing a
multi-commodity project portfolio - Industrial minerals, base and
precious metals.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
This information is provided by RNS, the news service of the
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END
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