Last checked at 10 Mar 2016 15:11
Onzima Ventures plc
("Onzima" or the "Company")
Investment
The Company announces that it has invested approximately £45,000 in the fundraising of £400,000 by Regency Mines plc ("Regency"), an AIM-traded natural resources exploration company, which was announced earlier today.
Onzima has acquired 7,441,806 new ordinary shares in Regency at a price of 0.6p per share together with 2,480,602 warrants over new ordinary shares which will be exercisable on the following three dates: 1 July 2016, at an exercise price of 0.78p; 1 November 2016, at an exercise price of 1p; and 1 February 2017 at an exercise price of 1.2p.
Regency has recently acquired a 5% interest in Horse Hill Developments Ltd ("HHDL"), a special purpose company that owns a 65% participating interest in and has the operatorship of licence PEDL 137 and the adjacent licence PEDL 246 in the UK Weald Basin. The Horse Hill-1 well, where a discovery was announced on 24th October 2014, is located within onshore exploration License PEDL 137, on the northern side of the Weald Basin near Gatwick Airport.
The proceeds of the fundraising by Regency Mines plc will be applied to oil activities, and for working capital purposes.
For further information please contact:
Onzima Ventures PLC Tel: +44 (0) 1622 717700
Gavin Burnell, Luke Cairns
Nominated Adviser
Cairn Financial Advisers LLP Tel: +44 (0) 20 7148 7900
Sandy Jamieson, Liam Murray
Broker
Peterhouse Corporate Finance Limited Tel: +44 (0) 20 7469 0930
Guy Miller, Lucy Williams