REG - Bushveld Minerals Ld - US$2 million SPR Debt Funding Received

Bushveld MineralsAnnouncement

12/08/2024 16:15

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RNS Number : 1397A  Bushveld Minerals Limited  12 August 2024

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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 (mailto: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 (https://www.bushveldminerals.com/) .

 

 

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