Stratmin Global Resources PLC Bass Transaction Update (9062A)

TIDMSTGR

RNS Number : 9062A

Stratmin Global Resources PLC

01 October 2015

1 October 2015

StratMin Global Resources Plc

("StratMin" or the "Company")

Bass transaction update

StratMin Global Resources Plc (AIM: STGR), London's only listed graphite exploration and production company, notes the recent announcement made by Bass on the ASX and is pleased to confirm that the Initial Investment in StratMin by Bass, announced on 2 September 2015, is progressing as expected with initial payments received to date totalling GBP75,000. Bass has announced that it is funding this commitment with a placement to sophisticated investors and existing shareholders.

Highlights

   --     Bass has begun funding the acquisition of a 25% interest in Grapmada Mauritius. 
   --     Funds for the acquisition are being met through a placement by Bass.

-- The placement is at a 30% premium to the share price of Bass on the date of the announcement of this transaction.

-- By mutual agreement the completion date has been extended to 21 October 2015 to accommodate settlement for Bass' international investors.

All capitalised terms in this announcement carry the same meaning as those defined in the announcement of 2 September 2015, unless the context requires otherwise.

Please follow the link to view the Bass Metals Ltd. announcement:

Brett Boynton, CEO, commented:

"It is very encouraging to see the market support for our new partner Bass Metals Ltd. They have managed to raise funds at a significant premium to their share price at the time of the original announcement of our deal. This is a clear indication of the support from the Australian graphite market for what we are doing at StratMin. I am looking forward to closing out the remainder of this transaction with Bass and accelerating the expansion programme with the resulting additional funding."

For further information please visit www.stratminglobal.com or contact:

 
 StratMin Global Resources Plc           +44 (0) 20 
  Brett Boynton, CEO                      3691 6160 
 Strand Hanson (Nominated & Financial 
  Adviser) 
  Rory Murphy / James Spinney /          +44 (0) 20 
  Ritchie Balmer                          7409 3494 
 Beaufort Securities (Broker)            +44 (0) 20 
  Jon Belliss                             7382 8300 
 Blytheweigh (Financial PR)              +44 (0) 20 
  Camilla Horsfall / Megan Ray            7138 3204

This information is provided by RNS

The company news service from the London Stock Exchange

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