Horizonte Minerals Plc (AIM: HZM | TSX: HZM) has announced the completion of a fundraise announced on 4 October 2022 following admission to AIM and the TSX of the fundraise shares.
Horizonte intends to use the net proceeds of the fundraise to meet increased capital requirements for the construction of the company’s Araguaia ferro-nickel project in Brazil, as well as for general working capital purposes.
The placing was conducted by Peel Hunt LLP and BMO Capital Markets Limited acting as joint bookrunners in relation to the Placing, with Paradigm Capital Inc. acting as a financial adviser in relation to the Placing.
In the fundraise, La Mancha Investments S.à r.l. purchased 24,340,744 ordinary shares. Immediately prior to the closing of the placing, La Mancha Fund SCSp beneficially owned or had control or direction over 37,956,438 ordinary shares, representing approximately 19.9% of the then issued and outstanding ordinary shares of the company.
In addition, the fund, via La Mancha Treasury Limited, holds a convertible note issued by the company on 23 November 2021. Following completion of the fundraise, the fund beneficially owns and has control and direction over an aggregate of 62,297,182 ordinary shares, representing approximately 23.21% of the issued and outstanding ordinary shares of the Company.
The placing shares acquired by La Mancha have been acquired for investment purposes. In the future, La Mancha may, from time to time, increase or decrease its investment in the company through market transactions, private arrangements, treasury issuances, or otherwise.
To find out more, please visit www.horizonteminerals.com
