Alba Terminates Bergen Investment Facility

RNS Number : 7065B

Alba Mineral Resources PLC

12 October 2020

 

Alba Mineral Resources plc

(" Alba " or the " Company ")

  Alba Terminates Bergen Investment Facility

Alba Mineral Resources plc (AIM: ALBA) announces that it has terminated the convertible securities issuance deed (the "Agreement") with a U.S.-based institutional investment fund managed by Bergen Asset Management, LLC (the "Investor"), first announced on 24 February 2020, which provided funding in the form of the issuance by Alba of unsecured zero coupon convertible securities (the "Convertible Securities").

As such, Alba will be issuing no further Convertible Securities under the Agreement and the Investor will be providing no further funding and receiving no further Alba shares under the terminated investment facility.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

For further information, please contact:

Alba Mineral Resources plc George Frangeskides, Executive Chairman	[phone]
Cairn Financial Advisers LLP ( Nomad )  James Caithie / Liam Murray	[phone]
ETX Capital Limited (Broker) Thomas Smith	[phone]

Alba's Project and Investment Portfolio

Project (commodity)	Location	Ownership
Mining Projects
Amitsoq (graphite)	Greenland	90%
Clogau (gold)	Wales	90%
Inglefield (copper, cobalt, gold)	Greenland	100%
Limerick (zinc-lead)	Ireland	100%
Melville Bay (iron ore)	Greenland	51%
TBS (ilmenite)	Greenland	100%
Oil & Gas Investments
Brockham (oil)	England	5%
Horse Hill (oil)	England	11.765%

 

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