Atlas Special Opportunities LLC – Exercise of Conversion Rights
Nachrichtenquelle: globenewswire | 26.01.2021, 16:54 | 116 26 January 2021
Opportunities LLC – Exercise of Conversion Rights Vast Resources plc, the AIM-listed mining company, announces that Atlas Special Opportunities LLC has given notice to the Company that it elects to convert Bonds of USD 500,000 nominal value in accordance with the terms of the Bond Issuance Deed announced on 24 October 2019. The Company can confirm that it has satisfied the exercise of the Conversion Rights through the issue of 323,880,177 ordinary shares of 0.1 pence each in the Company (‘Ordinary Shares’) at a price of 0.1128 pence per Ordinary Share. Application will be made to the London Stock Exchange for 323,880,177 new Ordinary Shares to be admitted to trading on the AIM Market with admission expected to occur on or around 1 February 2021
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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 (“MAR”).
ABOUT VAST RESOURCES PLC
Vast Resources plc is a United Kingdom AIM listed mining company with mines and projects in Romania and Zimbabwe.
In Romania, the Company is focused on the rapid advancement of high-quality projects by recommencing production at previously producing mines.
The Company’s Romanian portfolio includes 100% interest in the producing Baita Plai Polymetallic Mine, located in the Apuseni Mountains, Transylvania, an area which hosts Romania’s largest polymetallic mines. The mine has a JORC compliant Reserve & Resource Report which underpins the initial mine production life of approximately 3-4 years with an in-situ total mineral resource of 15,695 tonnes copper equivalent with a further 1.8M–3M tonnes exploration target. The Company is now working on
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· Jubilee secures investment from two blue chip institutions, including one new to the share register · The investment is made based on the Company s earnings and recognition of the accelerated implementation of its copper and cobalt strategy which holds the potential for enhanced sustainable and quality earnings growth · The substantial investment made by these blue chip institutions is facilitated by both the partial conversion of the convertible loan note held by ACAM LP, which facilitated the acquisition of the Sable Refinery in 2019, as well as a share contribution by certain Jubilee directors Leon Coetzer, Chief Executive Officer, says : This combined investment by two traditionally long term, supportive institutional shareholders is a milestone acknowledgement of the Company s achievements and brings recognition to the successful implementation of our strategy to date and our focus going forward.