Paternoster Resources PLC New Investments (2290U)

TIDMPRS

RNS Number : 2290U

Paternoster Resources PLC

11 July 2018

11 July 2018

Paternoster Resources plc

("Paternoster" or the "Company")

New investments

Introduction

Since announcing a placing of equity on 26 June 2018 to raise GBP4.5 million before expenses, Paternoster is pleased to announce that it is now investing around GBP500,000 in two new investment opportunities arranged by RiverFort Global Capital Limited, the specialist provider of capital to junior companies ("RiverFort").

Nicholas Lee, Chairman commented:

"We are very pleased with the overwhelming support from investors for our recent equity placing that has enabled us to raise new investment funds to implement our strategy of working closely with RiverFort. We are now actively focused on deploying these new funds in attractive investment opportunities."

Details of investments

 
 Company         Paternoster   Description 
                      amount 
                         US$ 
                ------------  ---------------------------------- 
 Linkwood            350,000   Secured short term loan of US$2 
  Holdings                      million. Linkwood is an investor 
  Pte Limited                   in the natural resources sector. 
                ------------  ---------------------------------- 
 EQTEC PLC           300,000   Secured loan facility of up to 
                                US$3.2 million. EQTEC is listed 
                                on AIM and is involved in waste 
                                gasification to energy projects. 
                ------------  ---------------------------------- 
 
 Total               650,000 
                ------------  ---------------------------------- 
 

Paternoster will be investing in these opportunities by way of participation certificates ("Certificates") issued by Cuart Investments PCC Limited ("Cuart"), a Gibraltar Experienced Investor Fund to which RiverFort is the investment director. The Certificates are referenced linked financial instruments that provide similar economic benefits to the holder as if they were co-investing directly in the underlying investment. Whilst there is no direct security into the underlying investment, the holder will benefit from the enforcement of any such security. For larger investments, it is expected that Paternoster will co-invest directly alongside Cuart and any other co-investors.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

For more information please contact:

 
 Paternoster Resources     [phone] 
  plc:                      7576 
 Nicholas Lee, Chairman 
 
 
                            [phone] 
 Nominated Advisor:          3396 
 Beaumont Cornish 
 Roland Cornish/Rosalind 
  Hill Abrahams 
 
  Joint Broker: 
  Shard Capital Partners 
  LLP                         [phone] 
  Damon Heath                 9950 
  Erik Woolgar 
 
  Joint Broker: 
  Peterhouse Corporate 
  Finance                     [phone] 
  Lucy Williams               3351 
 
 
 
 
 
 

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.

END

MSCURABRWAABAAR

(END) Dow Jones Newswires

July 11, 2018 02:00 ET (06:00 GMT)