Rosebank Regulatory News (ROSE)

21 Sep 2007 15:00

Vane Minerals PLC21 September 2007 21st September 2007 VANE Minerals Plc (AIM: VML) Convertible Loan Note Vane Minerals Plc ("VANE" or "the Company") is pleased to announce that on 19thSeptember it agreed in principle to issue to City Natural Resources High YieldTrust a £500,000 convertible loan note with an 8% coupon convertible at 24.37pper share, representing a 30% premium to the then mid market share price of18.75p. These funds will be used to continue the aggressive drilling programme on theCompany's uranium assets which is targeted towards both the Breccia Pipes andUtah projects. The Convertible is subject to completion of legal documentationand Board approval, which is expected to be finalised within 7 working days. Matthew Idiens, Director of Corporate Development, commented, "We are encouragedthat City Natural Resources is able to show this level of support and confidencein the Company and its assets. The funds will enable us to prove up our uraniumprojects in the US and further strengthen our portfolio". Enquiries: VANE Minerals Plc Ambrian Partners Limited Parkgreen Communications Matthew Idiens Richard Brown Laura Llewelyn / Beth Harris +44 (0) 20 7667 6322 +44 (0) 20 7776 6417 +44 (0) 20 7851 7480 This information is provided by RNS The company news service from the London Stock Exchange