SOURCE: Anglo Pacific Group PLC

Anglo Pacific Group PLC

June 10, 2014 11:56 ET

Anglo Pacific Group PLC Completion of Maracas Vanadium Royalty Acquisition

LONDON, UNITED KINGDOM--(Marketwired - Jun 10, 2014) -  Anglo Pacific Group PLC (the "Company") (LSE: APF) (TSX: APY) is pleased to announce, further to the announcement on June 2, 2014, that it has completed the purchase of Cancap Investments Limited's ("Cancap") royalty interest in the Maracás Vanadium Project ("Maracás Project").

The Company has paid to Cancap total upfront consideration of US$22 million in cash and has today issued 500,000 warrants to Cancap. Each warrant will entitle the holder to acquire one ordinary share of 2 pence in the Company at a strike price of £2.50 and will be exercisable for five years from the date of issue. The warrants will not be admitted to trading on any exchange. 

For further information:

   
Anglo Pacific Group PLC
Julian Treger - Chief Executive Officer
Mark Potter - Chief Investment Officer
Peter Mason - Company Secretary
+44 (0) 20 3435 7400
   
Website          http://www.anglopacificgroup.com/
   
Barclays Bank PLC
Matthew Bungey/Christopher Kololian
+44 (0)20 7623 2323
   
BMO Capital Markets Limited
Jeffrey Couch/ Neil Haycock / Tom Rider
+44 (0) 20 7664 8020
   
Bell Pottinger           
Nick Lambert / Lorna Cobbett
+44 (0) 20 7861 3232
   

Notes to Editors

About Anglo Pacific
Anglo Pacific is a global mining royalty company. The Company's strategy is to create the premier base metals and bulk materials listed royalty company, focusing on accelerating income growth through acquiring royalties on projects that are currently cash flow generating or are expected to be within the next 24 months. It is a continuing policy of the Company to pay a substantial portion of these royalties to shareholders as dividends.

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