Valereum PLC - $10 million Funding Facility with US led Syndicate
RNS Number : 1618A
Valereum PLC
31 January 2022
 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR")

 

 

31st January 2022

Valereum Plc

("Valereum" or the "Company")

 

$10 million Funding Facility with US led Syndicate

Valereum is pleased to announce that it has drawn US$3m from a new US$10m investment facility provided by a syndicate of institutional investors led by a US managed institutional investor. These funds will be used to advance Valereum's acquisition of the Gibraltar Stock Exchange ("GSX"). This will enable the previously announced strategy to be put in place.

Richard Poulden, Chairman of Valereum commented: "It is great to have international institutional support for our projects in Gibraltar."

This US$3m tranche has a six-month term (the "term"), after which the facility can be repaid or extended at Valereum's option.

Outstanding principal amounts may be converted into ordinary shares at £0.3682 during the term. After six months, if extended, conversion may occur at that price or, if lower, at a 5% discount to the then current 10 day lowest daily VWAP.

This drawing carries 663,302 two-year warrants at £0.3347.

The Directors of the Company accept responsibility for the contents of this announcement.

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Enquiries:                                                                                            

 

Valereum Plc

Richard Poulden, Chairman

Tel: +971 4584 6284

 

AQSE Corporate Adviser

Peterhouse Capital Limited

Tel: +44 (0) 207 469 0930

 

Investor Relations

J&H Communications Limited

James Henderson

Tel: +44 (0)7774 444163

james@j-hcommunications.com

 

George Hudson

Tel: +44 (0)7803 603130

george@j-hcommunications.com

 

For more information, please visit the Company's website at valereum.gi

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