Regency Mines PLC Issue of Equity, Live Market Bookbuild and TVR (4832U)

TIDMRGM

RNS Number : 4832U

Regency Mines PLC

18 January 2017

REGENCY MINES PLC

("Regency" or the "Company")

Issue of Equity and Live Market Bookbuild

Total Voting Rights

18 January 2017

Regency Mines plc announces that it has raised GBP60,000 by way of placings of 15,000,000 new ordinary shares of 0.01 pence each ("Shares") in the Company at a price of 0.4p per share with 1 for 1 warrants exercisable at a price of 0.8p for twenty-four months ("Placing").

The purpose of the Placing is to replenish the Company's working capital following the December 2016 investment of GBP250,000 in Carbon Minerals Corporation.

The Company also proposes to raise up to GBP50,000 by way of a Live Market Bookbuild through the Teathers mobile application (the "Teathers App"). This will involve the issue of up to 12,500,000 new Shares at a price of 0.4p per share, together with 1 for 1 warrants exercisable at a price of 0.8p for twenty-four months. This will be the first Live Market Bookbuild offered via the Teathers App. Only onboarded users of the Teathers App will be able to participate in the Live Market Bookbuild.

The Live Market Bookbuild will commence at 1200 Wednesday 18 January and will close at 1600 on Thursday 19 January.

Andrew Bell, Regency Chairman, states: "Just before the holiday period we raised most of the cost of our investment in the Rosa coal mine in Alabama. By now raising the rest, we replenish our working capital level to previous levels.

In addition, we are now able to allow qualified Teathers investors, via the Teathers App, to apply to participate in a private placing both outside and during market hours. This initiative, with its transparent process, is a first for the market, and we hope will be welcomed, especially by those who have expressed regret at being left out in previous placings."

Further Information and Additional Terms

The Placing is conditional on admission of the Shares to trading on AIM ("Admission").

Application has been made to the London Stock Exchange for Admission of the Shares, which will rank pari passu with the Company's existing issued Ordinary Shares. Dealings are expected to commence at 8.00 a.m. on or around 24th January 2017

Total Voting Rights

Following the Placing, the Company's total issued ordinary share capital will consist of 394,884,571 Shares with voting rights. No Shares are held in treasury.

The above figure of 394,884,571 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure and Transparency Rules.

Background Information

Regency Mines is a natural resource development and investment company with interests in oil and mineral exploration, and in the production of metallurgical coal. Regency holds energy interests in Horse Hill Development Limited, that has discovered substantial oil deposits near Gatwick, Curzon Energy plc, with development interests in coal bed methane in Oregon, and Carbon Minerals Corporation, which is currently re-opening the Rosa metallurgical coal mine in Alabama. Regency also controls the Mambare project in Papua New Guinea, where it established through exploration a large nickel-cobalt Resource, and the Motzfeldt tantalum-niobium Resource in southern Greenland.

The Teathers App is a mobile app designed to give qualified private investors access to placements & Initial Public Offerings (IPOs), predominantly on the London Stock Exchange's Alternative Investment Market (AIM). There are currently 993 companies listed on AIM. During the course of 2016 these companies have raised GBP3.27 billion in secondary fundraisings (placements) (DATA: AIM Statistics to end Nov. 2016).

The Teathers App is an execution only platform. When an AIM-listed company raises money by private placement, "onboarded" users of the Teathers App have the opportunity to participate in the placement on the same terms as other investors. An "onboarded" user of the Teathers App is one who has already opened a brokerage account with Shard Capital. Shard Capital is the broker supporting the re-launch of the Teathers App and provides the necessary environment, including compliance oversight and client identification. Shard Capital is regulated by the FCA.

The Teathers App is currently available in the App Store. A version of the Teathers App will be released in Google Play in Q1 2017.

Note: The Market Abuse Regulation ("MAR") became effective from 3 July 2016. Market soundings, as defined in MAR, were taken in respect of the Placing with the result that certain persons became aware of inside information, as permitted by MAR. That inside information is set out in this announcement and has been disclosed as soon as possible in accordance with paragraph 7 of article 17 of MAR. Therefore, those persons that received inside information in a market sounding are no longer in possession of inside information relating to the Company and its securities.

For further information, please contact:

Andrew Bell 0207 747 9960 Chairman Regency Mines Plc

Scott Kaintz 0207 747 9960 Executive Director Regency Mines Plc

   Roland Cornish/Rosalind Hill Abrahams 0207 628 3396    NOMAD Beaumont Cornish Limited 

Jason Robertson 0129 351 7744 Broker Dowgate Capital Stockbrokers Ltd.

This information is provided by RNS

The company news service from the London Stock Exchange

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January 18, 2017 06:33 ET (11:33 GMT)