Issue of Equity

RNS Number : 2048I

Tertiary Minerals PLC

23 July 2012

 



www.tertiaryminerals.com

("Tertiary" or "the Company")

                                                                                                            23 July 2012

Placing & Issue of Equity

Total Voting rights

Tertiary Minerals plc is pleased to announce that it has raised £500,225 by way of a placing of 11,770,000 new ordinary shares (the "Placing Shares") at 4.25p per share (the "Placing"). The Placing was made to a small number of institutional and professional investors. The Placing Shares will rank pari passu with all existing ordinary shares.

The Company will use the funds for the continuing evaluation of its Storuman and Lassedalen fluorspar projects as set out in its 11 July 2012 Project Update and for general working capital purposes.

The Placing is being made under existing shareholder authorities. Application will be made for the Placing Shares to be admitted to trading on AIM and it is anticipated that such trading will commence on 8 August 2012.

Following the admission to trading of the Placing Shares there will be 130,586,214 ordinary shares in issue. This figure 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 FSA's Disclosure and Transparency Rules.

Patrick Cheetham, Chairman of the Company, commented today: "I am pleased that we have received good support from investors in what is an extremely difficult funding environment for junior companies. The Placing gives the Company the confidence to maintain the momentum of work on the projects and achieve a number of value-adding milestones."

A copy of the investor presentation was placed on the Company's website on 11th July 2012 and is available for download from www.tertiaryminerals.com.

ENQUIRIES:

Tertiary Minerals plc                                                                        Tel:  [phone]

Patrick Cheetham, Executive Chairman                               

Seymour Pierce Limited                                                                   Tel: [phone]

Stewart Dickson/Jonathan Wright (Corporate Finance)

Jeremy Stephenson/Jacqui Briscoe (Corporate Broking)                                         

Yellow Jersey PR Limited                                                  

Dominic Barretto                                                                                  Tel: [phone]

Harry Fielder                                                                                         Tel: [phone]      

ABOUT TERTIARY

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 and Tertiary controls two significant Scandinavian projects (Storuman in Sweden and Lassedalen in Norway).

For more information on Tertiary, please visit www.tertiaryminerals.com

 

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