Vast Resources plc Termination Of Convertible Securities Issuance Deed

 
TIDMVAST 
 
 
   Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining 
 
   22 February 2019 
 
   Vast Resources plc 
 
   ("Vast" or the "Company") 
 
   Termination of Convertible Securities Issuance Deed 
 
   Vast Resources plc, the AIM listed mining company with operating mines 
in Romania and Zimbabwe, announces that the convertible securities 
issuance deed (the "Agreement") between the Company and Bergen Global 
Opportunity Fund LP ("Bergen") dated 19 December 2018, the details of 
which were notified on 20 December 2018, has been terminated by the 
parties by mutual consent, effective as of 21 February 2019. 
 
   Following the termination, no further funding will be provided to the 
Company under the Agreement. 
 
 
 
   Brian Moritz, Chairman of Vast, commented: 
 
   "Bergen Global Opportunity Fund proved a valuable and flexible funding 
partner for Vast. Bergen was a reliable and responsible corporate 
citizen at all times during its dealings with Vast, and I wish to thank 
the team at Bergen for their support." 
 
   **ENDS** 
 
   For further information, visit www.vastresourcesplc.com or please 
contact: 
 
 
 
 
Vast Resources plc                                www.vastresourcesplc.com 
 Andrew Prelea (Chief Executive Officer)           [phone] 
Beaumont Cornish - Financial & Nominated Adviser  www.beaumontcornish.com 
 Roland Cornish                                    [phone] 
 James Biddle 
Brandon Hill Capital Ltd -- Joint Broker          www.brandonhillcapital.com 
 Jonathan Evans                                    [phone] 
SVS Securities Plc -- Joint Broker                www.svssecurities.com 
 Tom Curran                                        [phone] 
 Ben Tadd 
St Brides Partners Ltd                            www.stbridespartners.co.uk 
 Susie Geliher                                     [phone] 
 Juliet Earl 
 
 
   The information contained within this announcement is deemed by the 
Company to constitute inside information as stipulated under the Market 
Abuse Regulations (EU) No. 596/2014 ("MAR"). 
 
   Notes 
 
   Vast Resources plc is an AIM listed mining and resource development 
company focussed on the rapid advancement of high-quality brownfield 
projects and recommencing production at previously producing mines in 
Romania and Zimbabwe. 
 
   Vast Resources currently owns and operates the Manaila Polymetallic Mine 
in Romania, which was commissioned in 2015, and is focussed on its 
expansion through the development of a second open pit operation and new 
metallurgical complex at the Carlibaba Extension Area.  The Company's 
Romanian portfolio also includes interests in two brownfield development 
projects; the Baita Plai Polymetallic Mine (80% interest), which has a 
reported 1,800,000-tonne 
copper-silver-zinc-lead-gold-tungsten-molybdenum ore body at 6% copper 
equivalent (Russian Reserves and Resources Reporting System) within the 
mining licence area; and the Blueberry Project (29.41% interest), a 
7.285km(2) brownfield area of prospectivity in the Golden Quadrilateral 
of Romania located in the immediate vicinity of the now closed Baia de 
Aries mine. 
 
   The Company also has interests in a number of projects in Zimbabwe 
including a controlling 25 per cent. interest in the producing 
Pickstone-Peerless Gold Mine, a 23.75% economic interest in the Eureka 
Gold Mine, and an 86.67% interest in a SPV which has a due diligence 
access agreement and pre-agreed joint venture terms on a diamond 
concession within the Marange Diamond Fields, widely considered to be 
one of the richest sources of alluvial diamonds globally. 
 
 
 
 

(END) Dow Jones Newswires

February 22, 2019 02:00 ET (07:00 GMT)

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