Completion of Acquisition of Colombian Mining Data

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 Chief Executive Officer Laurence Read Executive Director / Communications Officer	Tel: [phone] Tel: [phone]
Strand Hanson Limited (Nomad) James Harris / Matthew Chandler / James Dance	Tel: [phone]
Beaufort Securities Limited (Broker) Elliot Hance	Tel: [phone]

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.

 

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