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And UK placing update
Further to the announcements of July 15 and July 16, 2014, Horizonte Minerals Plc (TSX:HZM) (AIM:HZM) has provided an update on the “best efforts” Canadian public offering (the “Offering”) of ordinary shares of the Corporation and concurrent private placement offering in the United Kingdom of ordinary shares (the “Private Placement Shares”) of the Corporation.
Paradigm Capital Inc. (“Paradigm”) is acting as the Corporation’s exclusive agent in respect of the Offering to offer for sale Offered Shares at a price of $0.11 per share (the “Offering Price”). The Offered Shares will be offered by way of a short form prospectus pursuant to National Instrument 44-101 – Short Form Prospectus Distributions. A preliminary short form prospectus in respect of the Offering was filed in the Province of Ontario on July 14, 2014.
finnCap Ltd. as placing agent for the Concurrent Private Placement has conditionally placed 41,287,608 Private Placement Shares in the United Kingdom at a price of 6 pence per share, being the approximate sterling equivalent of the Offering Price, for aggregate gross proceeds of approximately £2.48 million (or approximately $4.56 million).
It is currently anticipated that the aggregate gross proceeds of the Offering, together with the aggregate gross proceeds of the Concurrent Private Placement, will be up to approximately $10,000,000.
Closing of the Offering is anticipated to occur on or about July 31, 2014, and the Concurrent Private Placement is expected to close immediately thereafter.
Each of the Offering and Concurrent Private Placement is subject to certain conditions including, but not limited to, customary conditions and the admission of the Offered Shares and Private Placement Shares to trading on AIM, a market operated by the London Stock Exchange (“AIM”), and the listing and posting for trading on the Toronto Stock Exchange (the “TSX”). Application will be made for the Offered Shares and Private Placement Shares to be admitted to trading on AIM and application has been made for the Offered Shares and Private Placement Shares to be listed and posted for trading on the TSX.
The securities offered have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release is for information purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be any sale of these securities, in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful.
