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DJ Cadence Minerals PLC Update - Macarthur Minerals

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RNS Number : 2065F

Cadence Minerals PLC

11 July 2019

Cadence Minerals Plc

("Cadence Minerals", "Cadence" or "the Company")

Macarthur Minerals (TSX-V: MMS) Closes Fully Subscribed Private Placement.

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note the announcement today from Macarthur Minerals (TSX-V: MMS) ("Macarthur") that it has closed the previously announced private placement offering (the "Offering") of US$6 million of secured Convertible Note ("Note") on conditional acceptance.

The total placement closed with subscriptions totalling 600 Notes for gross proceeds of US$6,000,000 with attaching warrant offered for one fourth of the Commitment amount.

All securities issued under the Offering are subject to a restricted (or "hold") period of four months and one day following the distribution date of the Note and Warrant, under applicable Canadian securities legislation.

Cadence holds approximately 9.8% of the issued equity interest in Macarthur, which is an Australian mining exploration company focused primarily on iron ore, nickel, lithium and gold in Western Australia. It also has a lithium project in Nevada, USA.

The full release can be found at: https://web.tmxmoney.com/article.php?newsid=8438990672161293&qm_symbol=MMS

This news release is not for distribution to United States Services or for Dissemination in the United States.

- Ends -

 
For further information: Cadence Minerals plc         +44 (0) 207 440 0647 
  Andrew Suckling 
  Kiran Morzaria 
 
  WH Ireland Limited (NOMAD 
   & Broker)                   +44 (0) 207 220 1666 
  James Joyce 
  James Sinclair-Ford 
 
  Novum Securities Limited 
   (Joint Broker)              +44 (0) 207 399 9400 
  Jon Belliss 
 

Qualified Person

Kiran Morzaria B.Eng. (ACSM), MBA, has reviewed and approved the information contained in this announcement. Kiran holds a Bachelor of Engineering (Industrial Geology) from the Camborne School of Mines and an MBA (Finance) from CASS Business School.

Forward-Looking Statements:

Certain statements in this announcement are or may be deemed to be forward-looking statements. Forward-looking statements are identi ed by their use of terms and phrases such as "believe" "could" "should" "envisage" "estimate" "intend" "may" "plan" "will" or the negative of those variations or comparable expressions including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth results of operations performance future capital and other expenditures (including the amount. nature and sources of funding thereof) competitive advantages business prospects and opportunities. Such forward-looking statements re ect the Directors' current beliefs and assumptions and are based on information currently available to the Directors. Many factors could cause actual results to differ materially from the results discussed in the forward-looking statements including risks associated with vulnerability to general economic and business conditions competition environmental and other regulatory changes actions by governmental authorities the availability of capital markets reliance on key personnel uninsured and underinsured losses and other factors many of which are beyond the control of the Company. Although any forward-looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions. The Company cannot assure investors that actual results will be consistent with such forward-looking statements.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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(END) Dow Jones Newswires

July 11, 2019 02:48 ET (06:48 GMT)