Bushveld Minerals Limited Update following Equity Issue (5587Y)

TIDMBMN

RNS Number : 5587Y

Bushveld Minerals Limited

03 January 2024

Market Abuse Regulation ("MAR") Disclosure

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

03 January 2024

Bushveld Minerals Limited

("Bushveld" or the "Company")

Update following Equity Issue

Bushveld Minerals Limited (AIM: BMN), the integrated primary vanadium producer, hereby informs shareholders that it has yet to receive the amount due by Southern Point Resources ("SPR") under its subscription in the recent Equity Issue.

While the Company is confident the US$12.5 million in funds will be received in the coming week and has been assured so by SPR, Bushveld is obliged to inform the market of the current state of affairs.

The shares due to SPR have been issued as a share certificate and remain in the Company's possession. The money due is classified as a short-term receivable on the balance sheet until it has been received.

All other funds raised as part of the US$18.4 million equity issue have been received, other than funds due from Acacia, which, as previously announced, are due for settlement on or before 28 February 2024.

Enquiries : [e-mail]

 
Bushveld Minerals Limited                                                                          [phone] 
Craig Coltman, Chief Executive Officer 
Chika Edeh, Head of Investor Relations 
 
                                                 Nominated Adviser, Joint Broker & Joint 
SP Angel Corporate Finance LLP                    Bookrunner                                      [phone] 
Richard Morrison / Charlie Bouverat 
Grant Barker / Richard Parlons 
 
Hannam & Partners                                Joint Broker & Joint Bookrunner                  [phone] 
Andrew Chubb / Matt Hasson / Jay Ashfield 
 
Tavistock                                        Financial PR                                     [phone] 
Gareth Tredway / Tara Vivian-Neal / James Whitaker 
 

ENDS

ABOUT BUSHVELD MINERALS LIMITED

Bushveld Minerals is a vertically integrated primary vanadium producer, it is one of only three operating primary vanadium producers. In 2022, the Company produced more than 3,800 mtV, representing approximately three per cent of the global vanadium market. With a diversified vanadium product portfolio serving the needs of the steel, energy and chemical sectors.

Detailed information on the Company and progress to date can be accessed on the website www.bushveldminerals.com

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

UPDEALFDEEELEFA

(END) Dow Jones Newswires

January 03, 2024 09:30 ET (14:30 GMT)