Stratmin Global Resources PLC Bass Transaction Update - Replacement (9079A)
October 01 2015 - 5:54AM
UK Regulatory
TIDMSTGR
RNS Number : 9079A
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:
http://www.rns-pdf.londonstockexchange.com/rns/9079A_1-2015-10-1.pdf
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
END
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