Placing & Issue of Equity

RNS Number : 0368M

Tertiary Minerals PLC

11 July 2014

 

Tertiary Minerals plc

www.tertiaryminerals.com

("Tertiary" or "the Company")

 11 July 2014

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 £420,000 by way of a placing of 7,304,348 new ordinary shares (the "Placing Shares") at 5.75p 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 of its fluorspar projects as set out in its news release of 2 July 2014 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 25 July 2014.

Following the admission to trading of the Placing Shares there will be 172,760,562 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: "This fundraising will allow the Company to maintain momentum on its key fluorspar projects and in particular to continue with drilling on our exciting MB Fluorspar project in Nevada where we have already defined a large maiden Mineral Resource."

ENQUIRIES
For further information please contact:
Tertiary Minerals plc	Tel: [phone]
Patrick Cheetham, Executive Chairman
Richard Clemmey, Managing Director
Cantor Fitzgerald Europe	Tel: [phone]
Stewart Dickson/Julian Erleigh (Corporate Finance) Jeremy Stephenson (Corporate Broking)
Beaufort Securities Limited	Tel: [phone]
Saif Janjua
Yellow Jersey PR Limited	Tel: [phone]
Dominic Barretto/Kelsey Traynor

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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