REG - PYX Resources Ltd. - Issue of Equity

PYX ResourcesAnnouncement

05/12/2023 07:15

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RNS Number : 6992V  PYX Resources Limited  05 December 2023

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

 

 

5 December 2023

 

PYX Resources Limited

("PYX" or the "Company")

 

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

PYX Resources Ltd (NSX: PYX | LSE: PYX), the third largest publicly listed
Premium Zircon producer by Zircon resources(( 1  (#_ftn1) )), advises that an
Application for Quotation of Additional Securities has been issued on the NSX.

PYX received a total 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 seven Subscription Notices from
the Investor in accordance with the Share Placement. For details of the
subscription notices and the associated share issues, see the Company's
announcements dated 7 July 2022, 7 October 2022, 5 January 2023, 23 February
2023, 30 March 2023, 16 June 2023 and 25 August 2023.

PYX has now received an eighth subscription notice from the Investor totalling
US$350,000 in shares. As such, the Company has issued and allotted 1,982,397
ordinary shares of no par value. The price of the shares in connection with
the eighth 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 eighth subscription notice there is US$3.33 million of available
Subscription Amount remaining.

A full PDF version of the NSX Application for Quotation of Additional
Securities is available from the Company's 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 11 December 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
458,817,161 Ordinary Shares, no Ordinary Shares are held in treasury.
Therefore, the total number of Ordinary Shares with voting rights in the
Company will be 458,817,161.

The above figure of 458,817,161 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 (Broker)                              T: +44 (0)20 7220 1666

 Harry Ansell / Katy Mitchell / Darshan Patel
 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 3(rd) 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.

.

 

 1  (#_ftnref1) according to publicly available information as of 30 June 2023

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