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Onzima Ventures PLC (ONZ)

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Monday 14 March, 2016

Onzima Ventures PLC

Investment

RNS Number : 9746R
Onzima Ventures PLC
14 March 2016
 

14 March 2016

 

 

Onzima Ventures PLC

 

("Onzima" or the "Company")

 

Investment

 

The Company announces that it has participated in the placing of new ordinary shares by MX Oil plc as announced today. MX Oil plc ("MX Oil") has raised £2.5 million gross, the proceeds of which will be used to make what MX Oil expects to be the final payment in connection with the Company's investment in Nigeria prior to the commencement of oil production.

 

Onzima has subscribed for 20,000,000 shares at 0.75p per share for a total sum of £150,000. Onzima has also received 4,000,000 warrants exercisable at 1p per share for a period of 3 years.

 

Gavin Burnell, CEO of Onzima, said: "We have been opportunistic in taking a stake in MX Oil at what we consider a good price with a number of near term news events from Nigeria and Mexico."

 

 

For further information please contact:

 

Onzima Ventures PLC                               Tel:  +44 (0) 1732 366561

Gavin Burnell, Luke Cairns

 

Nominated Adviser

Cairn Financial Advisers LLP                     Tel:  +44 (0) 207148 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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