21st Nov 2013 11:24
LONDON (Alliance News) - Herencia Resources PLC Thursday said it has signed an initial subscription agreement with new cornerstone investor Shining Capital Management Ltd.
The Chile-focused mineral exploration and development company said the first tranche of its investment agreement has been signed for a GBP620,000 payment on November 25 in return for 100 million shares in Herencia, priced at 0.62 pence per share.
The company said due diligence work in relation to the much larger second tranche of GBP1.86 million has commenced, and once completed Shining will subscribe for a further 300 million shares at the same price.
Herencia Resources shares were up 2.1% to 0.558 pence Thursday.
By Tom McIvor; [email protected]; @TomMcIvor1
Copyright © 2013 Alliance News Limited. All Rights Reserved.
Related Shares:
Herencia Resources