Tertiary Minerals PLC Placing to raise GBP150,000 (9490R)
November 01 2023 - 3:00AM
UK Regulatory
TIDMTYM
RNS Number : 9490R
Tertiary Minerals PLC
01 November 2023
1 November 2023
Tertiary Minerals plc
("Tertiary" or "the Company")
Placing to raise GBP150,000
Tertiary Minerals plc (AIM: TYM), the London listed explorer
focussed on copper and precious metals in Zambia and Nevada, USA,
wishes to announce that it has raised GBP150,000, before expenses,
through a placing of 125,000,000 new ordinary shares (the "Placing
Shares") in the Company at a price of 0.12 pence per share (the
"Placing Price"), being a 7.7% discount to yesterday's closing bid
price (the "Placing").
The Placing was arranged through the Company's joint broker,
Peterhouse Capital Limited ("Peterhouse").
Broker Engagement Warrants
Under the terms of its engagement, Peterhouse will be issued
with 6,250,000 warrants ("Broker Engagement Warrants") to subscribe
for further new ordinary shares at the Placing Price at any time
before one year from the date of Admission.
The Placing Share and the Broker Engagement Warrants are being
issued under the Company's existing share issue authorities. The
Broker Engagement Warrants will not be admitted to trading on any
exchange.
Use of Proceeds
The net funds raised will be applied to exploration activities
at the Company's projects in Zambia and Nevada and working
capital.
Admission
The Placing Shares will rank pari passu with the Company's
existing ordinary shares.
An application has been made to the London Stock Exchange for
admission of the Placing Shares to trading on AIM ("Admission").
Admission is expected to occur on Monday 6 November 2023.
Total Voting Rights
Following Admission of the Placing Shares the Company's enlarged
issued share capital will be 2,106,085,049 ordinary shares.
The Company holds no ordinary shares in treasury. Following
Admission, the total number of voting rights in the Company will be
2,106,085,049 and this figure may be used by shareholders as the
denominator for the calculations by which they determine if they
are required to notify their interest in, or a change to their
interest in, the Company under the FCA's Disclosure Guidance and
Transparency Rules.
For more information please contact:
Tertiary Minerals plc:
Patrick Cheetham, Executive
Chairman +44 (0) 1625 838 679
-------------------------------
SP Angel Corporate Finance LLP - Nominated Adviser and Broker
Richard Morrison +44 (0) 203 470 0470
-------------------------------
Harry Davies-Ball
-------------------------------
Peterhouse Capital Limited - Joint Broker
Lucy Williams + 44 (0) 207 469 0930
--------------------------------
Duncan Vasey
-------------------------------
Market Abuse Regulation
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 as it forms part of
UK domestic law by virtue of the European Union (Withdrawal) Act
2018 ('MAR'). Upon the publication of this announcement via
Regulatory Information Service ('RIS'), this inside information is
now considered to be in the public domain.
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END
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