Market
Abuse Regulation (MAR) Disclosure
Certain
information contained in this announcement would have been deemed
inside information for the purposes of Article 7 of Regulation (EU)
No 596/2014 until the release of this announcement
12 August 2024
Bushveld Minerals
Limited
("Bushveld Minerals"
"Bushveld" or the "Company")
US$2 million SPR Debt Funding
Received
Bushveld Minerals
Limited (AIM: BMN), the
integrated primary vanadium producer, is pleased to announce that
the Company has received a final instalment
of US$2 million from Southern Point Resources Fund I S.A.
LP ("SPR") today,
securing the total amount of US$12 million of the interim working
capital facility announced 07 May 2024.
Additionally, as announced 28 June
2024, OMF Fund III (F) Limited ("Orion") has agreed to match the
additional funds paid by SPR on a $ for $ basis up to a
maximum of US$10 million, subject to approval by the South
African Reserve Bank ("SARB"), which will provide further
working capital to support the Company's operations.
Craig Coltman, CEO of Bushveld Minerals Limited,
commented:
"I'm delighted to share that the Company has successfully
secured the final instalment of the US$12 million working capital
facility provided by SPR. This additional funding, along with the
expected matched support from Orion, will significantly bolster our
financial position by providing valuable working capital to pay
down our creditors and improve the state of the corporate balance
sheet, as well as continue progressing our
turnaround
initiatives at Vametco."
Enquiries : info@Bushveldminerals.com
|
Bushveld Minerals Limited
|
|
+27 (0) 11
268 6555
|
|
Craig Coltman, Chief Executive Officer
|
|
|
|
|
|
|
|
|
|
|
|
SP
Angel Corporate Finance LLP
|
Nominated Adviser & Joint Broker
|
+44 (0) 20
3470 0470
|
|
Richard Morrison / Charlie
Bouverat
|
|
|
|
Grant Barker / Abigail
Wayne
|
|
|
|
|
|
|
|
Hannam & Partners
|
Joint Broker
|
+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 primary
vanadium producer. It is one of the world's three primary vanadium
producers, offering compelling exposure to vanadium through its
upstream asset.
Detailed information on the Company
and progress to date can be accessed on the
website www.bushveldminerals.com.