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Vast Resources plc: Termination of Convertible Securities Issuance Deed

22.02.2019  |  GlobeNewswire
22 February 2019 - Vast Resources plc, the AIM listed mining company with operating mines in Romania and Zimbabwe, announces that the convertible securities issuance deed (the “Agreement”) between the Company and Bergen Global Opportunity Fund LP (“Bergen”) dated 19 December 2018, the details of which were notified on 20 December 2018, has been terminated by the parties by mutual consent, effective as of 21 February 2019.

Following the termination, no further funding will be provided to the Company under the Agreement.


Brian Moritz, Chairman of Vast, commented:

“Bergen Global Opportunity Fund proved a valuable and flexible funding partner for Vast. Bergen was a reliable and responsible corporate citizen at all times during its dealings with Vast, and I wish to thank the team at Bergen for their support.”


**ENDS**



For further information, visit www.vastresourcesplc.com or please contact:

Vast Resources plc
Andrew Prelea (Chief Executive Officer) www.vastresourcesplc.com
+44 (0) 20 7236 1177

Beaumont Cornish - Financial & Nominated Adviser
Roland Cornish / james Biddle
www.beaumontcornish.com
+44 (0) 020 7628 3396

Brandon Hill Capital Ltd – Joint Broker
Jonathan Evans
www.brandonhillcapital.com
+44 (0) 20 3463 5016

SVS Securities Plc – Joint Broker
Tom Curran / Ben Tadd
www.svssecurities.com
+44 (0) 20 3700 0100

St Brides Partners Ltd
Susie Geliher / Juliet Earl
www.stbridespartners.co.uk
+44 (0) 20 7236 1177


The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (“MAR”).


Notes

Vast Resources plc is an AIM listed mining and resource development company focussed on the rapid advancement of high-quality brownfield projects and recommencing production at previously producing mines in Romania and Zimbabwe.

Vast Resources currently owns and operates the Manaila Polymetallic Mine in Romania, which was commissioned in 2015, and is focussed on its expansion through the development of a second open pit operation and new metallurgical complex at the Carlibaba Extension Area. The Company’s Romanian portfolio also includes interests in two brownfield development projects; the Baita Plai Polymetallic Mine (80% interest), which has a reported 1,800,000-tonne copper-silver-zinc-lead-gold-tungsten-molybdenum ore body at 6% copper equivalent (Russian Reserves and Resources Reporting System) within the mining licence area; and the Blueberry Project (29.41% interest), a 7.285km² brownfield area of prospectivity in the Golden Quadrilateral of Romania located in the immediate vicinity of the now closed Baia de Aries mine.

The Company also has interests in a number of projects in Zimbabwe including a controlling 25 per cent. interest in the producing Pickstone-Peerless Gold Mine, a 23.75% economic interest in the Eureka Gold Mine, and an 86.67% interest in a SPV which has a due diligence access agreement and pre-agreed joint venture terms on a diamond concession within the Marange Diamond Fields, widely considered to be one of the richest sources of alluvial diamonds globally.
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