REG - PYX Resources Ltd. - Issue of Equity

PYX ResourcesAnnouncement

05/01/2023 07:15

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RNS Number : 7856L  PYX Resources Limited  05 January 2023

 

 

PYX Resources Limited / EPIC: PYX / Market: Standard / Sector: Mining

 

 

5 January 2023

 

PYX Resources Limited

 

Issue of Shares to L1 Capital Global Opportunities Master Fund and Total
Voting Rights

PYX Resources Ltd ("PYX" or the "Company") (NSX: PYX | LSE: PYX), the second
largest publicly listed zircon producing mining company globally by zircon
resources, advises that an Application for Quotation of Additional Securities
has been issued on the NSX.

PYX received an initial investment of US$7.0 million from a US Institutional
Investor, L1 Capital Global Opportunities Master Fund ("Investor"), for
US$7.78 million worth of PYX shares ("Subscription Amount") via a share
placement ("Share Placement"), as announced on 11 March 2022 and 2 December
2022.

Since the initial investment PYX has received three Subscription Notices from
the Investor in accordance with the Share Placement. The first subscription
notice, received in July 2022, was for US$550,000 and the second subscription
notice, received in October 2022, was for US$500,000. For details of the
subscription notices and the associated share issues, see the Company's
announcements dated 7 July 2022 and 7 October 2022.

PYX has now received a third subscription notice from the Investor totalling
US$850,000 in shares. As such, the Company has issued and allotted 2,436,438
ordinary shares of no par value. The price of the shares in connection with
the third subscription notice has been calculated at 95% of the average of 3
daily VWAPs over the 15 trading days prior to the share issuance date, as per
the Share Subscription Agreement.

Following the third subscription notice, there is US$5.88 million of available
Subscription Amount remaining.

A full PDF version of the Application for Quotation of Additional Securities
is available from the NSX website
(https://pyxresources.com/investors-nsx-announcements/
(https://pyxresources.com/investors-nsx-announcements/) )

Application will also be made for the New Ordinary Shares to be admitted to
the standard segment of the Official List and to trading on the Main Market of
the London Stock Exchange, and admission is expected to occur at 8:00 a.m. on
or around 10 January 2023. The new Ordinary Shares will rank pari passu with
the existing Ordinary Shares of the Company.

Following Admission, the Company's issued share capital will consist of
443,785,538 Ordinary Shares, no Ordinary Shares are held in treasury.
Therefore, the total number of Ordinary Shares with voting rights in the
Company will be 443,785,538.

The above figure of 443,785,538 may be used by shareholders as the denominator
for the calculations by which they will determine if they are required to
notify their interest in, or a change to their interest in, the share capital
of the Company under the FCA's Disclosure Guidance and Transparency Rules.

** ENDS ***

 

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

For more information:

 PYX Resources Limited                                    T: +852 3519 2860

 Oliver B. Hasler, Chairman and Chief Executive Officer   E: 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

 Ana Ribeiro/ Isabel de Salis / Isabelle Morris

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 Resources is committed
to fully develop 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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