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Herencia Receives Tranche One Funding

26 Nov 2013 07:00

RNS Number : 9221T
Herencia Resources PLC
26 November 2013
 



Herencia Resources plc

("Herencia" or "the Company")

Herencia Receives Tranche One Funding

Highlights:

· GBP£620,000 in Tranche One funding received by Herencia

· Investment priced at 0.62p per share

· 100 million ordinary shares issued to Shining Capital Management

Further to the announcement of 13 November 2013 and 21 November 2013, Herencia Resources plc (AIM:HER), the Chile-focussed mineral exploration and development Company, confirms that following the receipt of £620,000 it had today issued to Shining Capital Management ("Shining"), 100 million new ordinary shares ("Tranche One Shares") in Herencia at a price of 0.62p per share. Shining now holds 100 million ordinary shares representing approximately 4.7% of the total issued shares of the Company.

 

Application will be made for the Tranche One Shares to be admitted to trading on AIM and dealings are expected to commence on 2 December 2013. Following the issue of the Tranche One Shares, the total number of shares in issue will be 2,143,960,817. There are no shares held in treasury, therefore the total number of voting rights in the Company will be 2,143,960,817. This figure 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 under the Disclosure and Transparency Rules.

 

Managing Director, Graeme Sloan, commented:

"Another significant milestone achieved. We have already started to work closely with Shining to advance Due Diligence to facilitate the second tranche of their investment.

Both parties strongly believe that there is tremendous value-adding work to be done in the short term, particularly at Picachos.

We see 2014 as being a big year for Herencia. With three projects being actively advanced in Chile we believe the potential for regular and positive news-flow is self-evident."

 

 

About Herencia

Herencia Resources plc, is an AIM quoted exploration and development company operating in Chile. The Company has recently completed a Feasibility Study in relation to its 70% owned Paguanta Project, a high grade silver-zinc-lead project located in northern Chile. The Company has also entered into an option to acquire the producing Picachos Copper Project in central Chile. The Company is also seeing the Guamanga Project advance rapidly after entering into a Joint Venture with a wholly owned subsidiary of one of Australia's largest copper miners, OZ Minerals.

 

 

About Shining Capital Management

Shining Capital is an investment management company based in Hong Kong. Shining Capital's team of investment professionals is focused on areas within key sectors, including natural resources, which hold potential for long-term superior growth.

 

 

For further information, please contact:

Graeme Sloan, Herencia Resources plc +61 8 9481 4204

Katy Mitchell, WH Ireland Limited +44 161 832 2174

 

Further background details on the Company can be found at www.herenciaresources.com

**ENDS**

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCQQLBLXFFLFBE
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