Last checked at 17 Oct 2016 07:00
17 October 2016
Bezant Resources Plc
("Bezant" or the "Company")
Completion of Acquisition of Colombian Mining Data S.A. (formerly named Birkenhead Estates S.A.) and Issue of Equity
Bezant (AIM: BZT), the AIM quoted mineral exploration and development company, is pleased to announce that, further to its announcements of 7 September 2016 and 28 September 2016, the Company has now completed the acquisition of 100 per cent. of Colombian Mining Data S.A. ("CMD"), formerly named Birkenhead Estates S.A.
CMD is a special purpose vehicle which holds, inter alia, certain proprietary geological information and other data and intellectual property rights to be utilised by Exumax S.A.S. ("Exumax") in performing its services under the exploration agreement, further details of which were announced on 7 September 2016 (the "Exploration Agreement"). The Exploration Agreement secured the exploration and management services of Exumax, a Colombian based alluvial mining company, in respect of a planned 24-month exploration and development programme for the Company's near surface platinum and gold assets located in the Choco Region of Colombia over which it holds certain options.
In accordance with the terms of the share purchase agreement between (i) the Company, (ii) Verona Investment Group Inc. ("Verona") and (iii) the founders of Verona, the Company is issuing 7,201,745 new ordinary shares of 0.2 pence each in the capital of the Company ("Ordinary Shares") (the "Consideration Shares") to Verona representing approximately 3.51 per cent. of the Company's enlarged issued share capital.
Application to trading on AIM
Application has been made to the London Stock Exchange for admission of the Consideration Shares to trading on AIM ("Admission"). It is expected that Admission will become effective and that dealings in the Consideration Shares will commence at 8.00 a.m. on or around 19 October 2016.
Following Admission, the Company's total issued share capital will consist of 204,953,507 Ordinary Shares with voting rights. The Company does not hold any Ordinary Shares in treasury and accordingly there are no voting rights in respect of any treasury shares. The Consideration Shares will be fully paid and will rank pari passu in all respects with the Company's existing Ordinary Shares.
On Admission, the above figure of 204,953,507 Ordinary Shares 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 to their interest in, Bezant under the Financial Conduct Authority's Disclosure and Transparency Rules.
For further information, please contact:
Bezant Resources Plc Bernard Olivier Chief Executive Officer
Laurence Read Executive Director / Communications Officer |
Tel: +61 40 894 8182
Tel: +44 (0)20 3289 9923 |
Strand Hanson Limited (Nomad) James Harris / Matthew Chandler / James Dance | Tel: +44 (0)20 7409 3494 |
Beaufort Securities Limited (Broker) Elliot Hance | Tel: +44 (0)20 7382 8300 |
or visit http://www.bezantresources.com
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR").
Notes to Editors:
Bezant is an AIM quoted mineral exploration and development company with operations in Colombia, the Philippines and Argentina. The Company's ordinary shares of 0.2 pence each are traded under the ticker AIM: BZT, with identification code GB00B1CKQD97.