REG - PYX Resources Ltd. - GEM Makes First Investment in PYX

PYX ResourcesAnnouncement

29/11/2022 07:00

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RNS Number : 9021H  PYX Resources Limited  29 November 2022

 

 

29 November 2022

PYX Resources Limited

("PYX" or "the Company")

GEM Makes First Investment in PYX

 

PYX Resources Ltd (NSX: PYX | LSE: PYX) is pleased to announce that, following
the Company's announcement on 3 October 2022, PYX has made its first drawdown
on the GBP20 million capital commitment investment from GEM Global Yield LLC
SCS ("GGY") (the "Capital Commitment Facility").

 

As previously announced, GGY intends to provide long term support to PYX in
accordance with the Capital Commitment Facility, with the proceeds from the
capital investment furthering the Company's efforts to upgrade its mining
operations and increase its production volumes. The investment positions PYX
to continue its growth.

 

The Company has issued its first Subscription Notice in relation to the
Capital Commitment Facility to drawdown total gross proceeds of GBP402,056,
the proceeds of which have been received by the Company today. In line with
the Capital Commitment Facility, GGY has also today received 1,030,923 shares
from a Share Provider previously selected by the Company (a third party who
already holds shares in the Company), who has also executed a Deed of
Adherence to the Capital Commitment Facility. The shares have been transferred
at a price of GBP0.390 per share (the "GGY Shares").

 

The price of each GGY Share has been calculated in accordance with the terms
of the Capital Commitment Facility, as outlined in the 3 October 2022
announcement and the total shares now held by GGY is 1,030,923 Ordinary Shares
(representing 0.24% of the issued shares in the Company).

 

In consideration of the Share Provider transferring the relevant shares to GGY
under the Capital Commitment Facility, PYX has committed to issue  an
equivalent number of new shares (1,030,923 new ordinary shares ("New Shares"))
to the Share Provider in the next 12 months, utilising the Company's 15%
placement capacity under the NSX Listing Rules. A further announcement will be
made when the New Shares are issued.

 

***ENDS***

 

 PYX Resources Limited                                    T: +852 3519 2860

 Oliver B. Hasler, Chairman and Chief Executive Officer   E: ir@pyxresources.com (mailto:ir@pyxresources.com)
 WH Ireland Limited (Financial Adviser and Joint Broker)  T: +44 (0)20 7220 1666

 Harry Ansell / Katy Mitchell / Megan Liddell

 St Brides Partners Ltd (Financial PR)                    E: pyx@stbridespartners.co.uk (mailto:pyx@stbridespartners.co.uk)

 Ana Ribeiro / Isabel de Salis / Isabelle Morris

 

This announcement is authorised for release by Oliver B. Hasler, Chairman and
Chief Executive Officer.

 

 

About PYX Resources

 

PYX Resources Limited (NSX: PYX | LSE: PYX) is a producer of premium zircon
dual listed on the National Stock Exchange of Australia and on the Main Market
of the London Stock Exchange. PYX's key deposits, Mandiri and Tisma, are
large-scale, near-surface open pit deposits both located in the alluvium-rich
region of Central Kalimantan, Indonesia. PYX, whose Mandiri deposit has been
in production since 2015, is the 2nd largest publicly traded producing mineral
sands company by zircon resources globally. Determined to mine responsibly and
invest in the wider communities where we operate, PYX is committed to fully
developing its Mandiri and Tisma deposits, with the vision to consolidate the
mineral sands resources in Kalimantan and explore and acquire mineral sands
assets in Asia and beyond.

 

 

 

 

 

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