La Mancha announces the acquisition of shares in Horizonte Minerals PLC – QNT Press Release

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Luxembourg, December 22, 2021 (Global News Agency)-La Mancha Investments S.à rl (“La Mancha“) is a private investment company incorporated in Luxembourg, focusing on precious metals and battery metal mining opportunities. It is pleased to announce that it has completed the subscription of 759,128,764 ordinary shares (“Common stock“) of Horizonte Minerals PLC (“Orizante“) ((London-AIM: HZM, Toronto Stock Exchange:Herzma). The transaction was completed by private placement (“Private placement“) is 7 pence per share (using the British pound: Canadian dollar daily average exchange rate announced by the Bank of Canada on December 21, 2021, that is, 1.00 pound = 1.7131 Canadian dollars), and the total proceeds of approximately 0.12 Canadian dollars is 71,100,000 US dollars ( Calculated based on the daily average exchange rate of US dollar to Canadian dollar announced by the Bank of Canada on December 21, 2021, it is approximately 91,910,970 Canadian dollars (that is, 1.00 US dollars = 1.2927 Canadian dollars).

The private placement was completed in accordance with the terms of the investment agreement signed with Horizonte on November 23, 2021 (“Investment agreement“). The investment agreement stipulates that La Mancha has the right to nominate a director to Horizonte’s board of directors, as well as certain anti-dilution and pre-emptive rights and governance rights. The investment agreement also includes related lock-up and suspension of common stocks. La Mancha has Agree (except for certain customary exceptions) (i) not to sell any of its ordinary shares within 4 months from the date of the private placement; and (ii) to obtain ordinary shares within 18 months from the date of the investment agreement, which will result in La Mancha’s ownership interest in Horizonte exceeds 25%…

The full story can be found on Benzinga.com

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