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IMC Exploration Group #IMC – Further re Placing of Shares
The Board of IMC on 26th July 2019 announced inter alia that it had raised £100,000 (one hundred thousand pounds Sterling) before expenses by way of a Placing of 10,000,000 (ten million) new Shares in the Company at a price of 1 penny per Placing Share, conditional only upon Admission of the Placing Shares, which occurred on 1st August 2019. The terms “Placing”, “Shares”, “Placing Shares” and “Admission” have the meanings ascribed to them in the Company’s announcement of 26th July 2019.
A participant in the Placing was SVS. It was announced on 5th August 2019 that SVS had entered Special Administration under the Banking Act 2009 (as amended) and that the courts had appointed special administrators to resolve the affairs of SVS following its cessation of trading on 2nd August 2019. Details are available via this link: https://www.fca.org.uk/news/news-stories/svs-securities-plc-enters-administration
SVS had irrevocably committed to subscribe for 6,500,000 (six-and-a-half million) Placing Shares in the Placing for a total consideration of £65,000 (sixty-five thousand pounds Sterling), which transaction had been due to settle on 1st August 2019. The Company is seeking confirmation from the special administrators of SVS of the status of the overdue settlement. Further announcement(s) will be made when IMC obtains substantive information from the special administrators of SVS.
Eamon P. O’Brien,
Executive Chairman,
Dublin, 7th August 2019
The Directors of IMC, after due and careful enquiry, accept responsibility for the contents of this announcement.
REGULATORY ANNOUNCEMENT ENDS.
Contact Details:
Kathryn Byrne: +353 85 233 6033
IMC Exploration Group plc
Graham Atthill-Beck: +44 20 7464 4091/+971 50 856 9408 / Graham.Atthill-Beck@kbrl.co.uk
Brinsley Holman: +44 20 7464 4098 / Brinsley.Holman@kbrl.co.uk
Keith, Bayley, Rogers & Co. Limited
Tertiary Minerals #TYM – Update on Broker
Tertiary Minerals plc notes from the news story published on the Financial Conduct Authority (“FCA”) website on 5 August 2019 that the directors of SVS Securities Plc (“SVS”) have placed SVS into Special Administration. The FCA’s announcement disclosed that the FCA has imposed requirements requiring SVS to cease all regulated activities and restricting it from disposing of its own or its clients’ assets. SVS was a joint broker to the Company however as a result of these developments, SVS will no longer be able to provide broking services to Tertiary.
SP Angel Corporate Finance LLP will continue to act as sole broker to Tertiary.
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Enquiries Tertiary Minerals plc Richard Clemmey, Managing Director Patrick Cheetham, Chairman |
+44 (0) 1625 838 679 |
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SP Angel Corporate Finance LLP Nominated Adviser & Broker Lindsay Mair/Caroline Rowe
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+44 (0) 203 470 0470 |
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement
Notes to Editors
Tertiary Minerals plc (ticker symbol ‘TYM’) is an AIM-traded mineral exploration company building and developing a multi-commodity project portfolio – Industrial minerals, base and precious metals.
CAUTIONARY NOTICE
The news release may contain certain statements and expressions of belief, expectation or opinion which are forward looking statements, and which relate, inter alia, to the Company’s proposed strategy, plans and objectives or to the expectations or intentions of the Company’s directors. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the control of the Company that could cause the actual performance or achievements of the Company to be materially different from such forward-looking statements. Accordingly, you should not rely on any forward-looking statements and save as required by the AIM Rules for Companies or by law, the Company does not accept any obligation to disseminate any updates or revisions to such forward-looking statements.
Tertiary Minerals #TYM – Placing to Raise £250,000 to develop MB Project, Storuman & Progress Acquisition Opportunities
Tertiary Minerals plc, the AIM traded company building a strategic position in the fluorspar sector, is pleased to announce that it has raised £250,000 before expenses by way of a placing of 83,333,333 new ordinary shares (the “Placing Shares”) at 0.3 pence per share (the “Placing”). The Placing Shares will rank pari-passu with all existing ordinary shares in the Company. The Placing was arranged by SVS Securities Plc (“SVS”) and SVS has been appointed as a Joint Broker to the Company.
The funds raised will provide additional working capital for the Company to fund development work for its projects, to include:
MB Fluorspar Project, Nevada, USA
- Commence second phase of Scoping Study level bench scale metallurgical testwork at SGS Lakefield in Canada with the aim of producing commercial grade acid-spar
- Commence Scoping Study on successful completion of the metallurgical testwork
Storuman Fluorspar Project, Sweden
- Progressing the appeal process of the Exploitation (Mine) Permit with the Swedish Government
Project Acquisition
- Progressing the evaluation and due diligence of acquisition opportunities
The Placing is being made under existing shareholder authorities. Application will be made to the London Stock Exchange for 83,333,333 ordinary shares of 0.01 pence in Tertiary to be admitted to trading on AIM (“Admission”), and it is expected that Admission will occur on or around 8 February 2019.
In accordance with Financial Conduct Authority’s Disclosure and Transparency Rules (“DTR”), following the issue and Admission, the total issued share capital of the Company with voting rights will be 442,657,087 ordinary shares.
The above figure of 442,657,087 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the DTR.
Richard Clemmey, Managing Director of the Company, commented today: “In the current challenging market conditions we are pleased to have raised the funds necessary to commence the next important phase of development work on our MB Fluorspar project in Nevada. Alongside this we continue to progress the Storuman Mine Permit appeal with the Swedish Government and increase our focus on potential acquisition targets as the appeal progress runs its course”.
Michael Fanger from Possehl commented today: “We are very pleased that Tertiary has attracted further investment in 
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Enquiries
Tertiary Minerals plc Richard Clemmey, Managing Director Patrick Cheetham, Executive Chairman
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+44 (0) 1625 838 679 |
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SP Angel Corporate Finance LLP Nominated Adviser & Joint Broker Lindsay Mair/Caroline Rowe
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+44 (0) 203 470 0470 |
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SVS Securities plc Joint Broker Elliot Hance |
+44 (0) 203 700 0093 |
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement
Notes to Editors
Tertiary Minerals plc (ticker symbol ‘TYM’) is an AIM-traded mineral exploration and development company building a significant strategic position in the fluorspar sector. Fluorspar is an essential raw material in the chemical, steel and aluminium industries. Tertiary controls two significant Scandinavian projects (Storuman in Sweden and Lassedalen in Norway) and a large deposit of strategic significance in Nevada, USA (MB Project).
CAUTIONARY NOTICE
The news release may contain certain statements and expressions of belief, expectation or opinion which are forward looking statements, and which relate, inter alia, to the Company’s proposed strategy, plans and objectives or to the expectations or intentions of the Company’s directors. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the control of the Company that could cause the actual performance or achievements of the Company to be materially different from such forward-looking statements. Accordingly, you should not rely on any forward-looking statements and save as required by the AIM Rules for Companies or by law, the Company does not accept any obligation to disseminate any updates or revisions to such forward-looking statements.