19 Oct 2009 07:44
19 October 2009
Herencia Resources plc
("Herencia" or the "Company")
Completion of Placing
Herencia Resources Plc (AIM: HER), the development and exploration company with a primary focus on developing its Paguanta zinc-silver-lead-gold Project in northern Chile, is pleased to announce that it has completed a placing, through WH Ireland Limited, to raise approximately £1.37 million from the issue of 249,532,471 new ordinary shares of 0.1p each ("Ordinary Shares") at a price of 0.55p per share (the "Placing"). Application has been made for the new Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on 23 October 2009.
Following the Placing, the number of Ordinary Shares in issue will increase to 856,932,470.
The funds raised from the Placing will be used to advance the Company's Paguanta Project and its adjacent La Rosa porphyry-copper prospect.
Commenting on the placing, Managing Director Michael Bohm stated:
"The Paguanta orebody remains open both along strike and at depth. We are very pleased with the support we continue to receive in relation to our plans to target the potential extensions to the known areas of high grade mineralization at Paguanta and to further evaluate the gold-copper prospectivity of the Project. At this stage we are making plans to commence our next drill program in early 2010".
Herencia also confirms that Charmaine Lobo acquired 1,818,182 Ordinary Shares in the Placing. Charmaine Lobo is the wife of Michael Bohm, an executive director of the Company. Following the above mentioned acquisition Michael Bohm has an interest in 5,301,515 ordinary shares of 0.1p each in the Company which represents 0.62% of the total number of issued ordinary shares of the Company.
Further information on the Company can be found at www.herenciaresources.com
Enquiries:
| HERENCIA RESOURCES PLC | Michael Bohm | +61 8 9211 0600 |
| WH IRELAND LIMITED | Katy Mitchell | +44 161 832 2174 |