6 Feb 2017 07:00
Bacanora Minerals Ltd.
("Bacanora" or the "Company")
Issue of Equity and Exercise of options
Bacanora, the Canadian and London listed (AIM and TSX-V: BCN) lithium exploration and development company focused on Sonora, Mexico, announces that the Company has issued 200,000 new Common Shares in the Company (the "New Shares") pursuant to the exercise of options at CAN$0.30 each (18.4p).
Application has been made for the 200,000 New Shares to be admitted to trading on AIM. Admission is expected to occur at 8.00 a.m. on 9 February 2017. The New Shares will rank pari passu with the existing Common Shares in issue. Following the issue of the New Shares as outlined above, there will be 110,999,353 Common Shares in issue. This number may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company.
Enquiries please contact:
Bacanora Minerals Ltd.
| Peter Secker, CEO | info@bacanoraminerals.com
|
Cairn Financial Advisers LLP, Nomad
| Sandy Jamieson / Liam Murray
| +44 (0) 207 213 0880 |
Numis Securities Ltd, Broker
| John Prior/James Black/Paul Gillam | +44 (0) 20 7260 1000 |
St Brides Partners, Financial PR Adviser
| Frank Buhagiar / Elisabeth Cowell | +44 (0) 20 7236 1177 |
Macquarie Capital (Europe) Limited, Corporate Adviser
| Raj Khatri | +44 (0) 20 3037 2000 |
ABOUT BACANORA:
Bacanora is a Canadian and London listed minerals explorer (TSX-V: BCN and AIM: BCN). The Company explores and develops industrial mineral projects, with a primary focus on lithium. The Sonora Lithium Project, which consists of ten mining concession areas covering approximately 100 thousand hectares in the northeast of Sonora State. The Company, through drilling and exploration work to date, has established an Indicated Mineral Resource (in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101")) of 4.5 million tonnes (lithium carbonate equivalent) and 2.7 million tonnes Inferred. A Pre-Feasibility Study completed in Q1 2016 demonstrated the positive economics associated with becoming a 35,000 tpa lithium carbonate and 50,000 tpa SOP producer in Mexico. The Company is led by a team with lithium expertise which have proven mine development, construction and operational experience.