Atlantis Resources Limited Proposed Bond Launch (1275I)

TIDMARL

RNS Number : 1275I

Atlantis Resources Limited

15 June 2017

15 June 2017

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Atlantis Resources Limited

("Atlantis" or the "Company")

Proposed Bond Launch

Atlantis, a global leader in the tidal power sector, announces that it is working with Abundance Investment Limited ("Abundance"), the provider of a regulated green peer-to-peer investment platform, to prepare an offer for bonds to raise further capital for the activities of the Atlantis group.

Abundance offers individuals the opportunity to invest in projects or companies with a focus on the environment and renewable energy. The Abundance investments are eligible for inclusion in an ISA.

Atlantis is working with Abundance to launch a bond offer which, together with the capital raised in the Company's recent equity issuance, will provide funds for the growth of the Atlantis group's business. These funds are expected to be used to progress and accelerate the development of the best opportunities in the Atlantis project pipeline, to repay some more expensive debt, and to provide general working capital for the Atlantis group.

Atlantis will seek to raise up to GBP5 million in total through Abundance. It is expected that the bonds will have a 5 year term and a coupon of 8%, payable semi-annually. The issuing entity will be a wholly owned UK based subsidiary of the Company, and the bonds, which will be unsecured, will benefit from a parent company guarantee from Atlantis.

Abundance and Atlantis are working together to prepare for a launch of the bond offer at the end of June 2017.

Enquiries:

 
 Atlantis Resources                  via FTI Consulting 
 Tim Cornelius, Chief Executive 
  Officer 
  Simon Counsell, Chief Financial 
  Officer 
 
 
                                     [phone] 
 FTI Consulting                       1000 
 Ben Brewerton 
  Alex Beagley 
  James Styles 
 
  Abundance Investment                 [phone] 
  Louise Wilson                        8666 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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June 15, 2017 02:00 ET (06:00 GMT)