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Onzima Ventures PLC (ONZ)

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Tuesday 26 July, 2016

Onzima Ventures PLC

Investment in Ferrum Crescent Limited

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 £374,000 fundraising announced on 25 July by Ferrum Crescent Ltd ("Ferrum").

Onzima has invested approximately £64,500 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 £100,000 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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