TIDMBZT
RNS Number : 8145P
Bezant Resources PLC
21 October 2021
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, IN THE UNITED STATES.
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS
RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN
WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED
STATES, AUSTRALIA, NEW ZEALAND, JAPAN, THE REPUBLIC OF SOUTH
AFRICA, THE REPUBLIC OF IRELAND OR ANY OTHER JURISDICTION IN WHICH
IT WOULD BE UNLAWFUL TO DO SO.
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND SHALL NOT
CONSTITUTE AN OFFER TO SELL OR ISSUE OR THE SOLICITATION OF AN
OFFER TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY NEW COMMON
SHARES OF HELIUM ONE GLOBAL LTD IN ANY JURISDICTION IN WHICH ANY
SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN
ARTICLE 7 OF THE MARKET ABUSE REGULATION NO. 596/2014 ("MAR") AS IT
FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION
(WITHDRAWAL) ACT 2018 ("UK MAR"). MARKET SOUNDINGS, AS DEFINED IN
MAR, WERE TAKEN IN RESPECT OF THE PLACING WITH THE RESULT THAT
CERTAIN PERSONS BECAME AWARE OF THIS INSIDE INFORMATION, AS
PERMITTED BY MAR. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS
INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC
DOMAIN.
21 October 2021
Bezant Resources Plc
("Bezant" or the "Company")
GBP 1.2M Fundraise, Total Voting Rights and
update on Mankayan Project
Bezant (AIM: BZT), the copper-gold exploration and development
company, is pleased to announce a fundraising of GBP1,200,000 which
was oversubscribed.
Fundraising: The Company, via its broker Novum Securities
Limited, has raised GBP1,200,000 before expenses from investors.
The fundraising comprises a conditional placing of 923,076,923 new
Ordinary Shares of 0.002p each (the "Placing Shares") at a price of
0.13 pence per Placing Share (the "Placing Price") (the
"Placing").
Use of Proceeds: The net proceeds from the Placing are planned
to be used in relation to the following exploration activities;
i) on the Company's Hope Copper-Gold project in Namibia with the
main focus on a drilling programme which includes testing
electromagnetic target and a preliminary economic assessment;
ii) on exploration and drilling programme in Cyprus in relation
to the Company's agreement to explore Caerus Mineral Resource's
(LON: CMRS) copper gold projects in Cyprus;
iii) on trenching exploration program at the Company's Kanye
manganese project in Botswana; and
iv) on exploration and drilling program at the Company's
Kalengwa copper silver project;
and also on corporate overheads and to provide working capital
for the group.
Mankayan Project Update: Further to the Company's announcement
on 13 September 2021 the Company has completed its conditional
agreement with IDM Mankayan Pty Ltd ("IDM"), a company incorporated
in Australia, to take the Mankayan Project in the Philippines
forward (the "IDM Agreement") and now owns 27.5% of IDM with the
remaining 72.5% owned by established investors in the mining
sector. The initial objective of IDM is to assist and support
Crescent Mining Development Corporation ("CMDC") in its application
to renew t he Mineral Production Sharing Agreement No. 057-96-CAR
(the " MPSA ") in respect of the Mankayan Project and upon renewal
of the MPSA it is intended that IDM will be acquired by IDM
International Limited (ACN 108029198) which used to be listed on
the Australian Stock Exchange ("ASX") and which has a current cash
balance of approximately A$200,000 and no other assets with a view
to IDM International Limited applying to relist on the ASX with its
interest in the Mankayan Project as its only asset.
Further Details on the Fundraising: Pursuant to the Placing, in
aggregate, 923,076,923 Placing Shares will be issued at the Placing
Price to certain new investors conditional upon admission of the
Placing Shares to trading on AIM ("Admission"). The Placing Price
represents a discount of 18.75 per cent. to the closing middle
market price of an Ordinary Share of 0.16 pence on 20 October 2021,
being the latest practicable date prior to this announcement. Each
of the participants in the Placing will also subject to general
meeting approval receive half a warrant exercisable at 0.25 pence
for each Placing Share which they have subscribed valid for three
years from Admission. The Company is also issuing a warrant to
Novum to subscribe for 46,153,846 new Ordinary Shares exercisable
at the Placing Price for a period of two years from Admission
("Broker Warrants").
In conjunction with the Placing, the Company proposes to issue
the placees a total of 461,538,462 warrants, being half a warrant
for every share. The warrants will be exercisable in whole or in
part at 0.25 pence per new Ordinary Share to be exercised within 3
years of Admission (the "Placees Warrants"). The issue of Placees
Warrants is conditional on shareholder approval of the necessary
increase in authority to issue the Placees Warrants. A General
Meeting will be convened as soon as practicable and a further
announcement will be made in due course as and when the notice
convening the meeting is published.
The Placing Shares represent, in aggregate, approximately 19 per
cent. of the Company's enlarged issued share capital (as enlarged
by the issue of the Placing Shares). The Placing Shares will be
fully paid and rank pari passu in all respects with the Company's
existing Ordinary Shares.
Application to trading on AIM : The Placing is conditional on
admission of the Placing Shares to trading on AIM ("Admission").
Application will be made to the London Stock Exchange for the total
of 923,076,923 Placing Shares to be admitted to trading on AIM. It
is expected that Admission will become effective and that dealings
in the Placing Shares will commence at 8.00 a.m. on 4 November
2021.
Total Voting Rights after Fundraising : Following the issue of
the Placing Shares, the Company's total issued share capital will
consist of 4,863,028,538 Ordinary Shares with voting rights. The
Company does not hold any Ordinary Shares in treasury and
accordingly there are no voting rights in respect of any treasury
shares.
On Admission, the abovementioned figure of 4,863,028,538
Ordinary 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 to their
interest in, Bezant under the Financial Conduct Authority's
Disclosure Guidance and Transparency Rules.
Colin Bird, Executive Chairman of Bezant, commented :
"The focus for the use of the Placing proceeds is to undertake
exploration at the Company's copper projects in Namibia, Cyprus and
Zambia and at the Company's Kayne manganese project in Botswana and
we look forward to updating shareholders on these exploration
activities.
Bezant are pleased to be working with IDM and its experienced
mining sector investors to support the renew of the MPSA at a time
when the Philippine government have announced that they wish to
revitalise mining in the Philippines.
This capital will be utilised on our various projects and we
hope to be able to report further news this year and into next
year"
For further information, please contact:
Bezant Resources Plc
Colin Bird
Executive Chairman +27 726 118 724
Beaumont Cornish (Nominated Adviser)
Roland Cornish +44 (0) 20 7628 3396
Novum Securities Limited (Broker)
Jon Belliss +44 (0) 20 7399 9400
or visit http://www.bezantresources.com
Disclaimer
Beaumont Cornish Limited ("Beaumont Cornish"), which is
authorised and regulated in the United Kingdom by the FCA, is
acting as Nominated Adviser ("Nomad") to the Company in connection
with the matters contained in this announcement, and will not be
acting for any other person or otherwise be responsible to any
person for providing the protections afforded to clients of
Beaumont Cornish or for advising any other person in respect of the
matters set out in this announcement or any transaction, matter or
arrangement referred to in this announcement. Beaumont Cornish's
responsibilities as the Company's Nomad are owed solely to London
Stock Exchange and are not owed to the Company or to any Director
or to any other person in respect of his or her decision to acquire
any shares in the Company. Furthermore, Beaumont Cornish has not
approved or authorised the release of this announcement in whole or
in part, directly or indirectly into The United States, Canada,
Australia, Japan or The Republic of South Africa or any other
jurisdiction in which such release, publication or distribution
would be unlawful.
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END
IOEEAPEFASDFFEA
(END) Dow Jones Newswires
October 21, 2021 04:58 ET (08:58 GMT)
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