LONDON, UNITED KINGDOM--(Marketwired - Nov. 29, 2016) - Horizonte Minerals Plc, (AIM:HZM)(TSX:HZM) ('Horizonte' or 'the Company') is pleased to announce that, at its General Meeting held earlier today, the resolutions set out in the Notice of General Meeting sent to Shareholders on 1 November 2016 were duly passed and as a result the Company will close its previously announced £9 million placing to fund a Feasibility Study at its 100% owned Araguaia Nickel Project in Brazil ('Araguaia' or 'the Project').
Jeremy Martin, CEO of Horizonte commented, "I am pleased that following approval from shareholders we will now close the £9 million fundraise. The fundraise has demonstrated strong support from both new and existing UK and Canadian institutional investors. The proceeds combined with the existing cash position ensure that we have a robust balance sheet as we start the Feasibility Study on the Araguaia project which we are developing as a Tier 1 nickel project in Brazil.
"Activity is currently underway on the next phase of the permitting to obtain the Installation Licence, as well as a number of the work streams that will link into the Feasibility Study. The main contracts are due to be awarded in Q1 2017 as we work to advance the Project through the Feasibility Stage during the course of 2017. We look forward to keeping shareholders updated with the Company's development."
It is expected that the admission of 374,000,000 of the Placing Shares pursuant to the Placing Agreement will become effective at 8.00 a.m. on 30 November 2016 (the 'First Admission').
Following the First Admission, the Company will have 1,095,934,300 Ordinary Shares in issue. There are no shares held in treasury. The total voting rights will therefore be 1,095,934,300 and Shareholders may use this figure as the denominator by which they are required to notify their interest in, or change to their interest in, the Company under the Disclosure and Transparency Rules.
Application has also been made to the London Stock Exchange for the admission of the remaining 76,000,000 Placing Shares to be issued pursuant to subscription agreements entered into between the Company and individual subscribers. This is expected to occur at 8.00 a.m. on or around 2 December 2016 (the 'Second Admission').
Following the Second Admission, the Company will have 1,171,934,300 Ordinary Shares in issue. The total voting rights will therefore be 1,171,934,300 and Shareholders may use this figure as the denominator by which they are required to notify their interest in, or change to their interest in, the Company under the Disclosure and Transparency Rules.
The Toronto Stock Exchange ('TSX') has conditionally approved the Placing subject to fulfilling all of the listing requirements of the TSX.
Capitalised terms not otherwise defined in this announcement shall have the same meaning ascribed to such terms in the Circular sent to shareholders on 1 November 2016 and available under the Company's profile on SEDAR at www.sedar.com, unless the context requires otherwise.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
For further information visit www.horizonteminerals.com.
About Horizonte Minerals:
Horizonte Minerals plc is an AIM and TSX-listed nickel development company focused in Brazil, which wholly owns the advanced Araguaia nickel laterite project located to the south of the Carajás mineral district of northern Brazil. The Company is developing Araguaia as the next major nickel mine in Brazil, with targeted production by 2019.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Except for statements of historical fact relating to the Company, certain information contained in this press release constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the expected timing for completion of the Second Admission, the potential of the Company's current or future property mineral projects; the success of exploration and mining activities; cost and timing of future exploration, production and development; the estimation of mineral resources and reserves and the ability of the Company to achieve its goals in respect of growing its mineral resources; and the realization of mineral resource and reserve estimates. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved".
Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, and are inherently subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to risks related to: exploration and mining risks, competition from competitors with greater capital; the Company's lack of experience with respect to development-stage mining operations; fluctuations in metal prices; uninsured risks; environmental and other regulatory requirements; exploration, mining and other licences; the Company's future payment obligations; potential disputes with respect to the Company's title to, and the area of, its mining concessions; the Company's dependence on its ability to obtain sufficient financing in the future; the Company's dependence on its relationships with third parties; the Company's joint ventures; the potential of currency fluctuations and political or economic instability in countries in which the Company operates; currency exchange fluctuations; the Company's ability to manage its growth effectively; the trading market for the ordinary shares of the Company; uncertainty with respect to the Company's plans to continue to develop its operations and new projects; the Company's dependence on key personnel; possible conflicts of interest of directors and officers of the Company, and various risks associated with the legal and regulatory framework within which the Company operates.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.