Onzima Ventures PLC Investment in Ferrum Crescent Limited (2766F)
26 Julio 2016 - 7:21AM
UK Regulatory
TIDMONZ
RNS Number : 2766F
Onzima Ventures PLC
26 July 2016
Onzima Ventures PLC
("Onzima" or the "Company")
Investment in Ferrum Crescent Limited
Onzima (AIM: ONZ) is pleased to announce that it has
participated in the GBP374,000 fundraising announced on 25 July by
Ferrum Crescent Ltd ("Ferrum").
Onzima has invested approximately GBP64,500 acquiring 32,226,485
shares at 0.2p and, subject to approval at a general meeting of
Ferrum, 32,226,485 options exercisable at 0.3p per share for 2
years.
The Board of Onzima commented:
"We are pleased to have increased our exposure to the upside of
Ferrum Crescent whilst adding approximately GBP100,000 of options
to our portfolio."
Ferrum, the ASX, AIM and JSE quoted metals project developer,
has stated that it intends to use the net proceeds from the Placing
for the Group's general working capital purposes. This includes in
due course, subject to the exercise of the company's option over
GoldQuest Iberica, S.L. ("GoldQuest"), a planned structured work
programme across GoldQuest's Toral and Lago lead-zinc exploration
projects in the provinces of León and Garcia (the "Iberian
Projects"), with the objective of establishing a maiden JORC Code
compliant resource estimate at the Iberian Projects, the rapid
establishment of metallurgical characteristics and a viable metals
separation and processing profile.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
For further information please contact:
Onzima Ventures PLC Tel: +44 (0) 1732 366 561
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
This information is provided by RNS
The company news service from the London Stock Exchange
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