Business
STRATEGIC INVESTMENT BY VISION BLUE RESOURCES
STRATEGIC INVESTMENT BY VISION BLUE RESOURCES.
About this update from Cornish Metals Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 1565G\n Cornish Metals Inc.\n 28 March 2022\n \n \n \n \n THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA, NEW ZEALAND OR JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BREACH ANY APPLICABLE LAW OR REGULATION.\n \n \n THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES IN CORNISH METALS INC OR ANY OTHER ENTITY IN ANY JURISDICTION. NEITHER THIS ANNOUNCEMENT NOR THE FACT OF ITS DISTRIBUTION, SHALL FORM THE BASIS OF, OR BE RELIED ON IN CONNECTION WITH ANY INVESTMENT DECISION IN RESPECT OF CORNISH METALS INC.\n \n \n \n \n \n CORNISH METALS TO RAISE UP TO £40.5 MILLION THROUGH A £25 MILLION STRATEGIC INVESTMENT BY SIR MICK DAVIS' VISION BLUE RESOURCES AND A UK PLACING AND CANADIAN SUBSCRIPTION OF UP TO £15.5 MILLION\n \n \n \n \n \n March 28, 2022 \n \n \n Highlights\n \n \n · \n Offering to raise up to £40.5 million (approximately C$66.8 million) comprising \n \n \n o \n £25 million (approximately C$41.2 million) strategic investment by Vision Blue Resources (\"VBR\"), a vehicle founded by Sir Mick Davis to invest in green energy-related metal and mineral resource companies \n \n o \n £15.5 million \n (approximately C$25.6 million) \n from a private placing to existing and new UK institutional investors as well as a subscription by existing Canadian investors and eligible accredited private investors\n \n \n \n · \n Net proceeds will advance the South Crofty tin project - a fully permitted, former producing high-grade underground tin mine, located in Cornwall, UK \n \n \n o \n Work will include dewatering of the mine, resource drilling, completion of a feasibility study, evaluation of further downstream beneficiation opportunities, and on-site early works in advance of a potential construction decision\n \n \n · \n Demand for tin is expected to increasingly outstrip supply in coming years driven by growing demand from the electronics sector, EVs, and renewa...