Pembridge Resources plc Announcement of Roadshow for Proposed Placing (0522S)
21 Junho 2018 - 3:00AM
UK Regulatory
TIDMPERE
RNS Number : 0522S
Pembridge Resources plc
21 June 2018
THE INFORMATION CONTAINED IN THIS ANNOUNCEMENT IS DEEMED BY THE
COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE EU
MARKET ABUSE REGULATION (596/2014). UPON PUBLICATION OF THE
ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION
IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.
21(st) June 2018
Announcement of Roadshow for Proposed Placing to fund completion
of the Acquisition of Minto Mine from Capstone
London, United Kingdom - Pembridge Resources plc (LSE:PERE)
("Pembridge" or the "Company"), announces that further to
announcements of 15 February 2018 and 11 June 2018 will today
commence its roadshow to raise proceeds of approximately US$40
million by way of a placing of ordinary shares of nominal value 1p
each in the capital of the Company (subject to a share
consolidation on a 10:1 basis) to fund its acquisition of Minto
Explorations Ltd. ("Minto"), from Capstone Mining Corp.
("Capstone") (the "Proposed Placing"). The Company has appointed
Arden Partners plc ("Arden Partners") and FirstEnergy Capital LLP
("GMP Securities") as bookrunners in connection with the Proposed
Placing (together, the "Bookrunners"), which the Company expects to
complete in the next two to three weeks.
Key Highlights
-- Pembridge is targeting a raise of approximately US$40 million
by way of the Proposed Placing;
-- Indicative price of placing at 50p per ordinary share after 10:1 consolidation;
-- Proceeds of the Proposed Placing to be used for the
acquisition of Minto, per the Share Purchase Agreement executed
with Capstone on 14 February 2018, as well as fund future work at
the mine to extend its life, increase productivity and improve
profitability;
-- Pembridge's management, Board of Directors and connected
parties expect to contribute at least US$5 million towards the
Proposed Placing;
-- An investor presentation, together with the Competent Persons
Report from Aurora Geosciences Ltd will be available on the
Company's website (www.pembridgeresources.com) from today and,
-- Interested parties should contact Arden Partners, GMP
Securities in their capacities as Bookrunners and the Company's
brokers, or SI Capital Limited ("SI Capital"), solely in its
capacity as the Company's broker, for more information.
David Linsley, Chief Executive Officer of Pembridge stated:
"Further to our announcement on 15 February 2018, and after
securing the recent offtake finance agreement with a leading
Japanese trading house as announced on 11 June 2018, we are
delighted to move to the final phase in this financing process and
commence our roadshow in connection with the Proposed Placing.
Interest in an equity placing has been strong and we are confident
that the Proposed Placing will be well received given the
tremendous value the acquisition of Minto will bring to
Pembridge."
The person who arranged for the release of this announcement on
behalf of the Company was David Linsley, Chief Executive
Officer.
ENDS
About Pembridge Resources plc
Pembridge is a mining-focused special purpose acquisition
company admitted to listing on the standard segment of the Official
List by the United Kingdom Financial Conduct Authority and to
trading on the main market for listed securities of the London
Stock Exchange.
The Company's management is composed of a team of senior leaders
with experience in various board and executive positions with a
complementary mix of expertise in geology, engineering, project
appraisal, and commercial development across a wide range of
commodity groups and mining jurisdictions.
About Minto
Minto is an open pit and underground copper-gold-silver mine
located in central Yukon, approximately 240 kilometres north of the
capital Whitehorse along the Klondike Highway. The Minto mine has
been in continuous production since 2007 and is presently the only
operating mine in Yukon territory. In excess of US$350 million of
capital expenditure has been invested into Minto operations since
site construction began some 12 years ago.
Pembridge Resources plc: +44 20 7917 2968
David Linsley, Chief Executive Officer
Paul Fenby, Chief Financial Officer
Bookrunners and Brokers to the issue
GMP Securities - Canada: +1 416 367 8600
Michael Barman
Arden Partners - United Kingdom: +44 20 7614 5900
Paul Shackleton
Fraser Marshall
Tim Dainton
Broker to the company
SI Capital - United Kingdom: +44 14 8341 3500
Nick Emerson
Financial Public Relations
Tavistock Communications: +44 20 7920 3150
Charles Vivian
Gareth Tredway
Barnaby Hayward
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END
MSCLLFSEREIIFIT
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June 21, 2018 02:00 ET (06:00 GMT)
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