Investors include Teck, Jeremy Martin, David Hall and Jeffrey Karoly
By Devika Patel
Knoxville, Tenn., June 13 - Horizonte Minerals plc said it has negotiated a £5.22 million private placement of shares.
The company will sell 71,986,190 ordinary shares at 7.25p each. The per-share price is a 10.82% discount to the June 12 closing share price of 8.13p.
Teck Resources Ltd. will invest £1.98 million, chief executive Jeremy Martin will invest £17,207, chairman David Hall will invest £17,207 and chief financial officer Jeffrey Karoly will invest £8,603.
Proceeds will be used to advance the Araguaia Nickel project through to the end of the pre-feasibility stage over the next 12 to 14 months.
Horizonte Minerals is a London-based nickel, gold, silver and base metal exploration and development company.
| Issuer: | Horizonte Minerals plc
|
| Issue: | Ordinary shares
|
| Amount: | £5,218,999
|
| Shares: | 71,986,190
|
| Price: | 7.25p
|
| Warrants: | No
|
| Investor: | Teck Resources Ltd. (for £1,978,797), Jeremy Martin (for £17,207), David Hall (for £17,207) and Jeffrey Karoly (for £8,603)
|
| Pricing date: | June 13
|
| Stock symbol: | London: HZM
|
| Stock price: | 8.13p at close June 12
|
| Market capitalization: | £23.4 million
|
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