NYO Nyota Minerals

TIDMNYO

RNS Number : 5865O

Nyota Minerals Limited

21 August 2017

For immediate release

21 August 2017

Nyota Minerals Limited

("Nyota" or "the Company")

Company Update

Further to the Company Update of 15 August 2017, Nyota announces that the Company has today signed an agreement ("Agreement") with Peterhouse Corporate Finance ("Peterhouse") and with Bigdish Ventures Limited ("Bigdish"), by which:

1. clients of Peterhouse will subscribe GBP550,000 for new equity shares in the Company, to be issued at a price of GBP0.00005 per share;

2. the Company will issue to these investors 1 warrant to subscribe for a further share in the Company for every 4 new ordinary shares subscribed for under this Agreement, exercisable at GBP0.0001 per share (i.e. twice the subscription price) for a period of one year from issuance; and

3. Bigdish will, subject only to fulfilment of the conditions set out below, convert its GBP200,000 unsecured loan to the Company, together with accrued interest of GBP8,222, into new equity shares in the Company

   a)   at the completion of a reverse takeover (as defined by the AIM Rules) ("RTO"); and 
   b)   at the same price as shares in the Company are issued at the RTO; 

and, until such conversion, has agreed to waive all existing rights to interest, conversion or redemption.

As explained in the 15 August 2017 announcement, in the event that a replacement Nominated Adviser ("Nomad") is not appointed by the Company by 17 September 2017 (the "Cancellation Date"), the listing of the Company's shares on AIM will be cancelled. Completion of the Agreement is subject only to the appointment of a new Nomad to the Company on or before the Cancellation Date and the restoration of trading in the Company's shares on AIM.

The Company is currently in discussions with a Nomad and is confident that a replacement will be appointed before the Cancellation Date.

Subject only to completion of the Agreement, Peterhouse has withdrawn its notice of resignation as the Company's broker.

--ENDS--

For further information please visit www.nyotaminerals.com or contact:

Nyota Minerals Limited

Sergey Budkin / James Normand - +44 (0) 20 7469 0930

Peterhouse Corporate Finance Limited

Lucy Williams / Eran Zucker - +44 (0) 20 7469 0932

This information is provided by RNS

The company news service from the London Stock Exchange

END

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August 21, 2017 11:56 ET (15:56 GMT)

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