REG - Paternoster Res. - New Investments
RNS Number : 2290UPaternoster Resources PLC11 July 201811 July 2018
Paternoster Resources plc
("Paternoster" or the "Company")
New investments
Introduction
Since announcing a placing of equity on 26 June 2018 to raise £4.5 million before expenses, Paternoster is pleased to announce that it is now investing around £500,000 in two new investment opportunities arranged by RiverFort Global Capital Limited, the specialist provider of capital to junior companies ("RiverFort").
Nicholas Lee, Chairman commented:
"We are very pleased with the overwhelming support from investors for our recent equity placing that has enabled us to raise new investment funds to implement our strategy of working closely with RiverFort. We are now actively focused on deploying these new funds in attractive investment opportunities."
Details of investments
Company
Paternoster
amount
Description
US$
Linkwood Holdings Pte Limited
350,000
Secured short term loan of US$2 million. Linkwood is an investor in the natural resources sector.
EQTEC PLC
300,000
Secured loan facility of up to US$3.2 million. EQTEC is listed on AIM and is involved in waste gasification to energy projects.
Total
650,000
Paternoster will be investing in these opportunities by way of participation certificates ("Certificates") issued by Cuart Investments PCC Limited ("Cuart"), a Gibraltar Experienced Investor Fund to which RiverFort is the investment director. The Certificates are referenced linked financial instruments that provide similar economic benefits to the holder as if they were co-investing directly in the underlying investment. Whilst there is no direct security into the underlying investment, the holder will benefit from the enforcement of any such security. For larger investments, it is expected that Paternoster will co-invest directly alongside Cuart and any other co-investors.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
For more information please contact:
Paternoster Resources plc:
+44 20 7580 7576
Nicholas Lee, Chairman
Nominated Advisor:
+44 20 7628 3396
Beaumont Cornish
Roland Cornish/Rosalind Hill Abrahams
Joint Broker:
Shard Capital Partners LLP
Damon Heath
Erik Woolgar
Joint Broker:
Peterhouse Corporate Finance
Lucy Williams
+44 20 7186 9950
+44 20 7562 3351
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.ENDMSCURABRWAABAAR
Recent news on Riverfort Global Opportunities
See all newsREG - AIM RiverFort Global Opp - Suspension - Riverfort Global Opportunities PLC
AnnouncementREG - RiverFort Global Opp - Investment, portfolio redemption, reverse takeover
AnnouncementREG - RiverFort Global Opp - Holding(s) in Company
AnnouncementREG - RiverFort Global Opp - Smarttech247 - partial disposal
AnnouncementREG - Smarttech247 Group RiverFort Global Opp - TR-1: Notification of major holdings
Announcement