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Paternoster Res. (RGO)

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Wednesday 11 July, 2018

Paternoster Res.

New Investments

RNS Number : 2290U
Paternoster Resources PLC
11 July 2018
 

11  July 2018

 Paternoster Resources plc

 

("Paternoster" or the "Company")

 

 New investments

 

 

Introduction

 

Since announcing a placing of equity on 26 June 2018 to raise £4.5 million before expenses, Paternoster is pleased to announce that it is now investing around £500,000 in two new investment opportunities arranged by RiverFort Global Capital Limited, the specialist provider of capital to junior companies ("RiverFort").

 

Nicholas Lee, Chairman commented:

 

"We are very pleased with the overwhelming support from investors for our recent equity placing that has enabled us to raise new investment funds to implement our strategy of working closely with RiverFort.  We are now actively focused on deploying these new funds in attractive investment opportunities."

 

Details of investments

 

Company

Paternoster

amount

Description


US$


Linkwood Holdings Pte Limited

350,000

Secured short term loan of US$2 million. Linkwood is an investor in the natural resources sector.

EQTEC PLC

300,000

Secured loan facility of up to US$3.2 million.  EQTEC is listed on AIM and is involved in waste gasification to energy projects.




Total

650,000


 

Paternoster will be investing in these opportunities by way of participation certificates ("Certificates") issued by Cuart Investments PCC Limited ("Cuart"), a Gibraltar Experienced Investor Fund to which RiverFort is the investment directorThe Certificates are referenced linked financial instruments that provide similar economic benefits to the holder as if they were co-investing directly in the underlying investment.  Whilst there is no direct security into the underlying investment, the holder will benefit from the enforcement of any such security.  For larger investments, it is expected that Paternoster will co-invest directly alongside Cuart and any other co-investors.

 

 

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

For more information please contact:

Paternoster Resources plc:

+44 20 7580 7576

Nicholas Lee, Chairman


 

Nominated Advisor:

+44 20 7628 3396

Beaumont Cornish


Roland Cornish/Rosalind Hill Abrahams

 

Joint Broker:

Shard Capital Partners LLP                        

Damon Heath

Erik Woolgar

 

Joint Broker:

Peterhouse Corporate Finance               

Lucy Williams

 

 

 

 

+44 20 7186 9950

 

 

 

 

+44 20 7562 3351

 

 

 

 

 







 


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