Completion of Marac?s Vanadium Royalty Acquisition

RNS Number : 2957J

Anglo Pacific Group PLC

10 June 2014

 



News Release

June 10, 2014

Anglo Pacific Group PLC

Completion of Maracás Vanadium Royalty Acquisition

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	[phone]
Website	www.anglopacificgroup.com
Barclays Bank PLC Matthew Bungey/Christopher Kololian	[phone]
BMO Capital Markets Limited Jeffrey Couch/ Neil Haycock / Tom Rider	[phone]
Bell Pottinger            Nick Lambert / Lorna Cobbett	[phone]

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.

 

END

 

 

MSCEALKEFSPLEFF