5 May 2017 17:05
REGENCY MINES PLC
("Regency Mines" or the "Company")
Proposed fundraise through the Teathers App
05 May 2017
Regency Mines announces that it proposes to raise up to £110,000 (the "proposed fundraise") through the Teathers mobile application (the "Teathers App"). This will involve the issue of up to 12,222,223 new ordinary shares of 0.01p each at a price of 0.9p per ordinary share on the same terms as described in the "Project Update, Placing and TVR" announcement of 02 May 2017, together with the 1 for 1 warrants exercisable at a price of 1.8p for twenty-four months. Only onboarded users of the Teathers App will be able to participate in the proposed fundraise.
The proposed fundraise will commence at 1700 Friday 05 May and will close at or before 0600 on Monday 08 May.
Andrew Bell, Regency Chairman, states: "In January we gave an opportunity for qualified shareholders and investors to participate through the Teathers App on the same terms as a placing conducted at that time. That was a success, and following this week's placing we have been made aware of a demand and an expectation that we do this again. We are glad to widen the opportunity for participation by a small additional fundraise."
Background Information
Regency Mines is a natural resource development and investment company with interests in oil and mineral exploration, and in the production of metallurgical coal. Regency holds energy interests in Horse Hill Development Limited, that has discovered substantial oil deposits near Gatwick, Curzon Energy plc, with development interests in coal bed methane in Oregon, and Carbon Minerals Corporation, which is currently re-opening the Rosa metallurgical coal mine in Alabama. Regency also controls the Mambare project in Papua New Guinea, where it established through exploration a large nickel-cobalt Resource, and the Motzfeldt tantalum-niobium Resource in southern Greenland.
Background to the Teathers App
The Teathers App is a mobile application designed to give qualified private investors access to placements & Initial Public Offerings (IPOs), predominantly on the London Stock Exchange's Alternative Investment Market (AIM).
The Teathers App is an execution only platform. When an AIM-listed company raises money by private placement, "onboarded" users of the Teathers App have the opportunity to participate in the placement on the same terms as other investors. An "onboarded" user of the Teathers App is one who has already opened a brokerage account with Shard Capital. Shard Capital is the broker supporting the Teathers App and provides the necessary environment, including compliance oversight and client identification. Shard Capital is regulated by the FCA.
The Teathers App is currently available in the App Store for iOS devices. A version of the Teathers App will be released in Google Play imminently.
For further information, please contact:
Andrew Bell 0207 747 9960 Chairman Regency Mines Plc
Scott Kaintz 0207 747 9960 Executive Director Regency Mines Plc
Roland Cornish/Rosalind Hill Abrahams 0207 628 3396 NOMAD Beaumont Cornish Limited
Jason Robertson 0129 351 7744 Broker Dowgate Capital Stockbrokers Ltd.