Exercise of Warrants and Total Voting Rights

RNS Number : 3843A

Bushveld Minerals Limited

23 March 2017

 

23 March 2017

Bushveld Minerals Limited

("Bushveld" or "the Company")

Exercise of Warrants and Total Voting Rights

The Company announces that it has received exercise notices for the exercising of the following warrants over Ordinary Shares:

·      5,449,790 warrants at 2.4p; and

·      5,357,143 warrants at 2.8p.

The Company has therefore received gross proceeds of approximately £280,795.

Accordingly, 10,806,933 new Ordinary Shares have been issued.

Admission to AIM and Total Voting Rights

Application has been made for admission of these 10,806,933 new Ordinary Shares to trading on AIM ("Admission") and it is expected that Admission will take place and that trading will commence on AIM at 8.00 a.m. on 29 March 2017.

Following Admission, there will be a total of 729,669,703 Ordinary Shares in issue, 670,000 of which are held in treasury. Shareholders should use the figure of 728,999,703 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 the Company, under the FCA's Disclosure and Transparency Rules.

Following the exercise of the warrants, the Company has a total of 48,390,286 warrants in issue.

The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulations (EU) No. 596/2014.

Enquiries: [e-mail]

Bushveld Minerals

Fortune Mojapelo                                                                       [phone]

Beaufort Securities

Jon Belliss                                                                                [phone]

SP Angel Corporate Finance

Ewan Leggat                                                                             [phone]

Strand Hanson

Andrew Emmott / Ritchie Balmer                                                 [phone]

Blytheweigh

Tim Blythe / Camila Horsfall                                                        [phone]

Gabriella von llle                                                                         [phone]

ABOUT BUSHVELD MINERALS LIMITED

Bushveld Minerals is a diversified AIM listed mineral development company with a portfolio of vanadium, iron ore, tin and coal greenfield assets in Southern Africa and Madagascar.  The Company's flagship platform, the vanadium platform, includes the Mokopane Vanadium Project, the Brits Vanadium Project, and the Bushveld Iron Ore & Titanium Project. The tin platform comprises the Mokopane Tin Project whereas the Imaloto Coal Project, which is being developed as one of Madagascar's leading independent power producers, makes up the Company's coal platform.

The Company's vision is to become the largest low cost integrated primary vanadium producer through owned low-cost high-grade assets. This incorporates development and promotion of the role of vanadium in the growing global energy storage market through Bushveld Energy, the Company's energy storage solutions provider. Whilst the demand for vanadium remains largely anchored in a slow growing steel industry, Bushveld Minerals believes there is a strong potential for imminent significant global vanadium demand surge from the fast-growing energy storage market, particularly through the use and adoption of Vanadium Redox Flow Batteries.

Bushveld Minerals' approach to project development recognises that whilst attractive project economics are imperative, they are insufficient to secure capital to bring them to account. A clear path to production with a visible timeframe, low capex requirements and scalability are important factors in retaining an attractive exit option. This philosophy is core to the Company's strategy in developing projects. Detailed information on the Company and progress to date can be accessed on the website: www.bushveldminerals.com

 

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