REG - Tertiary Minerals - Placing to raise £150,000

Tertiary MineralsAnnouncement

01/11/2023 07:15

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RNS Number : 9490R  Tertiary Minerals PLC  01 November 2023

1 November 2023

Tertiary Minerals plc

("Tertiary" or "the Company")

Placing to raise £150,000

Tertiary Minerals plc (AIM: TYM), the London listed explorer focussed on
copper and precious metals in Zambia and Nevada, USA, wishes to announce that
it has raised £150,000, before expenses, through a placing of 125,000,000 new
ordinary shares (the "Placing Shares") in the Company at a price of 0.12 pence
per share (the "Placing Price"), being a 7.7% discount to yesterday's closing
bid price (the "Placing").

The Placing was arranged through the Company's joint broker, Peterhouse
Capital Limited ("Peterhouse").

Broker Engagement Warrants

Under the terms of its engagement, Peterhouse will be issued with 6,250,000
warrants ("Broker Engagement Warrants") to subscribe for further new ordinary
shares at the Placing Price at any time before one year from the date of
Admission.

The Placing Share and the Broker Engagement Warrants are being issued under
the Company's existing share issue authorities. The Broker Engagement Warrants
will not be admitted to trading on any exchange.

Use of Proceeds

The net funds raised will be applied to exploration activities at the
Company's projects in Zambia and Nevada and working capital.

Admission

The Placing Shares will rank pari passu with the Company's existing ordinary
shares.

An application has been made to the London Stock Exchange for admission of the
Placing Shares to trading on AIM ("Admission"). Admission is expected to occur
on Monday 6 November 2023.

Total Voting Rights

Following Admission of the Placing Shares the Company's enlarged issued share
capital will be 2,106,085,049 ordinary shares.

 

The Company holds no ordinary shares in treasury. Following Admission, the
total number of voting rights in the Company will be 2,106,085,049 and this
figure may be used by shareholders as the denominator for the calculations by
which they determine if they are required to notify their interest in, or a
change to their interest in, the Company under the FCA's Disclosure Guidance
and Transparency Rules.

 

For more information please contact:

 Tertiary Minerals plc:
 Patrick Cheetham, Executive Chairman      +44 (0) 1625 838 679
 SP Angel Corporate Finance LLP - Nominated Adviser and Broker
 Richard Morrison                          +44 (0) 203 470 0470
 Harry Davies-Ball
 Peterhouse Capital Limited - Joint Broker
 Lucy Williams        + 44 (0) 207 469 0930
 Duncan Vasey

 

Market Abuse Regulation

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 as it forms part of UK domestic law by virtue of the
European Union (Withdrawal) Act 2018 ('MAR'). Upon the publication of this
announcement via Regulatory Information Service ('RIS'), this inside
information is now considered to be in the public domain.

 

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