REG - Bushveld Minerals Ld - Update following Equity Issue

Bushveld MineralsAnnouncement

03/01/2024 14:30

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RNS Number : 5587Y  Bushveld Minerals Limited  03 January 2024

Market Abuse Regulation ("MAR") Disclosure

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.

 

03 January 2024

Bushveld Minerals Limited

("Bushveld" or the "Company")

Update following Equity Issue

 

Bushveld Minerals Limited (AIM: BMN), the integrated primary vanadium
producer, hereby informs shareholders that it has yet to receive the amount
due by Southern Point Resources ("SPR") under its subscription in the recent
Equity Issue.

 

While the Company is confident the US$12.5 million in funds will be received
in the coming week and has been assured so by SPR, Bushveld is obliged to
inform the market of the current state of affairs.

 

The shares due to SPR have been issued as a share certificate and remain in
the Company's possession. The money due is classified as a short-term
receivable on the balance sheet until it has been received.

 

All other funds raised as part of the US$18.4 million equity issue have been
received, other than funds due from Acacia, which, as previously announced,
are due for settlement on or before 28 February 2024.

 

 

Enquiries: info@Bushveldminerals.com (mailto:info@Bushveldminerals.com)

 Bushveld Minerals Limited                                                                                       +27 (0) 11 268 6555
 Craig Coltman, Chief Executive Officer
 Chika Edeh, Head of Investor Relations

 SP Angel Corporate Finance LLP                          Nominated Adviser, Joint Broker & Joint Bookrunner      +44 (0) 20 3470 0470
 Richard Morrison / Charlie Bouverat
 Grant Barker / Richard Parlons

 Hannam & Partners                                       Joint Broker & Joint Bookrunner                         +44 (0) 20 7907 8500
 Andrew Chubb / Matt Hasson / Jay Ashfield

 Tavistock                                               Financial PR                                            +44 (0) 207 920 3150
 Gareth Tredway / Tara Vivian-Neal / James Whitaker

 

 

 

ENDS

 

 

ABOUT BUSHVELD MINERALS LIMITED

Bushveld Minerals is a vertically integrated primary vanadium producer, it is
one of only three operating primary vanadium producers. In 2022, the Company
produced more than 3,800 mtV, representing approximately three per cent of the
global vanadium market. With a diversified vanadium product portfolio serving
the needs of the steel, energy and chemical sectors.

Detailed information on the Company and progress to date can be accessed on
the website www.bushveldminerals.com (http://www.bushveldminerals.com)

 

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