Business
Strategic Investment and Equity Fundraising
Strategic Investment and Equity Fundraising.
About this update from Zinnwald Lithium Plc
[{"type":"text","content":"\n \n \n NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO\n \n THE UNITED STATES,\n \n AUSTRALIA,\n \n CANADA,\n \n JAPAN, THE\n \n REPUBLIC OF SOUTH AFRICA,\n \n SINGAPORE\n \n OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT HAS NOT BEEN APPROVED BY THE\n \n LONDON\n \n STOCK EXCHANGE, NOR IS IT INTENDED THAT IT WILL BE SO APPROVED. \n \n \n \n \n \n Prior to publication, the information contained within this announcement was deemed by the Company to constitute inside information as stipulated under the UK Market Abuse Regulation. With the publication of this announcement, this information is now considered to be in the public domain.\n \n \n \n \n \n Zinnwald Lithium plc / EPIC: ZNWD.L / Market: AIM / Sector: Mining\n \n \n 22 March 2023\n \n \n \n \n \n Zinnwald Lithium plc (\"Zinnwald\" or the \"Company\")\n \n \n Strategic Investment and Equity Fundraising to Raise a Minimum of £14 million\n \n \n \n \n \n Zinnwald Lithium plc, the German focused lithium development company, is pleased to announce it has secured cornerstone commitments for an equity fundraising to raise a minimum of £14 million at a price of 10.41 pence per share (the \"Placing Price\"), representing a premium of 10% to the 20-day Volume Weighted Average Price (\"VWAP\") of the Company's shares, as of the close of market on 20 March 2023 (the \"Fundraising\").\n \n \n \n \n \n The Fundraising is led by AMG Advanced Metallurgical Group N.V (\"AMG\"), which is subscribing for a 25% shareholding in the Company (the \"AMG Subscription\"). Existing substantial shareholders, Henry Maxey and Mark Tindall are also subscribing for new ordinary shares at the Placing Price to maintain their pre-existing shareholdings (together with the AMG Subscription, the \"Subscriptions\"). Together with participation in the Placing (as defined below) from two Directors of the Company, the Company will raise a minimum of £14 million at the Placing Price, pursuant to the Fundraising. \n \n \n \n \n \n The Company is today launching a placing led by Oberon Capital (\"Oberon\") and Tamesis Partners LLP (\"Tamesis\") (the \"Placing\") and a Retail Offer (as defined below). Th...