Bushveld Minerals Limited Update following Equity Issue (5587Y)

TIDMBMN

RNS Number : 5587Y

Bushveld Minerals Limited

03 January 2024

Market Abuse Regulation ("MAR") Disclosure

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

03 January 2024

Bushveld Minerals Limited

("Bushveld" or the "Company")

Update following Equity Issue

Bushveld Minerals Limited (AIM: BMN), the integrated primary vanadium producer, hereby informs shareholders that it has yet to receive the amount due by Southern Point Resources ("SPR") under its subscription in the recent Equity Issue.

While the Company is confident the US$12.5 million in funds will be received in the coming week and has been assured so by SPR, Bushveld is obliged to inform the market of the current state of affairs.

The shares due to SPR have been issued as a share certificate and remain in the Company's possession. The money due is classified as a short-term receivable on the balance sheet until it has been received.

All other funds raised as part of the US$18.4 million equity issue have been received, other than funds due from Acacia, which, as previously announced, are due for settlement on or before 28 February 2024.

Enquiries : info@Bushveldminerals.com

 
Bushveld Minerals Limited                                                                          +27 (0) 11 268 6555 
Craig Coltman, Chief Executive Officer 
Chika Edeh, Head of Investor Relations 
 
                                                 Nominated Adviser, Joint Broker & Joint 
SP Angel Corporate Finance LLP                    Bookrunner                                      +44 (0) 20 3470 0470 
Richard Morrison / Charlie Bouverat 
Grant Barker / Richard Parlons 
 
Hannam & Partners                                Joint Broker & Joint Bookrunner                  +44 (0) 20 7907 8500 
Andrew Chubb / Matt Hasson / Jay Ashfield 
 
Tavistock                                        Financial PR                                     +44 (0) 207 920 3150 
Gareth Tredway / Tara Vivian-Neal / James Whitaker

ENDS

ABOUT BUSHVELD MINERALS LIMITED

Bushveld Minerals is a vertically integrated primary vanadium producer, it is one of only three operating primary vanadium producers. In 2022, the Company produced more than 3,800 mtV, representing approximately three per cent of the global vanadium market. With a diversified vanadium product portfolio serving the needs of the steel, energy and chemical sectors.

Detailed information on the Company and progress to date can be accessed on the website www.bushveldminerals.com

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END

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January 03, 2024 09:30 ET (14:30 GMT)

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