Placing, Issue of Equity & Total Voting rights

RNS Number : 0556J

Tertiary Minerals PLC

31 March 2015

 



Tertiary Minerals plc ("Tertiary" or "the Company")

31 March 2015

Placing, Issue of Equity& Total Voting rights

Tertiary Minerals plc, the AIM traded company building a strategic position in the fluorspar sector is pleased to announce that it has raised £350,000 by way of a placing of 13,207,547 new ordinary shares (the "Placing Shares") at 2.65p per share (the "Placing"). The Placing was made to a small number of institutional investors. The Placing Shares will rank pari-passu with all existing ordinary shares.

The Company will use the funds for the continuing evaluation and development of its key fluorspar projects and for general working capital purposes.

The Placing is being made under existing shareholder authorities. Application will be made to the London Stock Exchange for 13,207,547 ordinary shares of 1 pence in Tertiary Minerals to be admitted to trading on AIM ("Admission"), and it is expected that Admission will occur on or around 16 April 2015.

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 187,781,069 ordinary shares.

The above figure of 187,781,069ordinary 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: "This small fundraising will allow the Company to maintain momentum on its key fluorspar projects and in particular to continue with the evaluation of our exciting MB Fluorspar project in Nevada and to continue progress with the permitting and feasibility stages at our more advanced Storuman project in Sweden." 

Enquiries Tertiary Minerals plc Patrick Cheetham, Executive Chairman  Richard Clemmey, Managing Director	[phone]
SP Angel Corporate Finance LLP Nominated Adviser & Joint Broker Ewan Leggat                                                     Katy Birkin	[phone]
Beaufort Securities Ltd Joint Broker Saif Janjua	[phone]
Yellow Jersey PR Limited Dominic Barretto            Kelsey Traynor	[phone]

Notes to Editors

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. Tertiary controls two significant Scandinavian projects (Storuman in Sweden and Lassedalen in Norway) and a large deposit of strategic significance in Nevada USA (MB Project).

 

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