Tantalus Rare Earths AG successfully concludes capital increase
30.04.2015 | DGAP
Grünwald, Germany, 30 April 2015 - With Tantalus' rights offer, resolved on 25 March 2015, the Company has received subscriptions for a total of 1,038,045 new shares from national and international investors. This fully corresponds to the numbers of new shares offered. After completion of the transaction, the Company's total amount of shares will increase by 1,038,045 from 3,114,136 to 4,152,181.Existing shareholders subscribed for 109,226 shares during the offer period. Additionally, 16 investors subscribed for 928,819 new shares during the subsequent private placement. The Company has decided to settle the capital increase in different tranches as some of the payments resulting from the private placement are not yet received.
The new shares subscribed by the existing shareholders during the subscription period are expected to be delivered on 7 May 2015. The remaining shares will be delivered after complete receipt of payment and registration of the capital increase in the German Commercial Register which is estimated to take place at the end of May 2015. Subject to all subscription payments being made the Company's total proceeds from the capital increase will be approximately EUR 8.3 million.
Thomas Hoyer, CEO of Tantalus Rare Earths AG, commented: "I am very pleased to see such strong support from investors towards the Company and its rare earths project in Madagascar. By attracting a number of new investors, we have also been able to establish a broader shareholder basis. After this successful capital increase, we will focus all our resources on implementing the next steps in our project, including preparations for the pilot production."
About Tantalus Rare Earths AG
Tantalus Rare Earths AG (ISIN DE000A1MMFF4) is a Germany-based exploration company, engaged in the development of rare earths in Madagascar. Tantalus's shares are quoted on the 'Primärmarkt' of the Düsseldorf Stock Exchange.
For further information please visit our website www.tre-ag.com or contact:
Thomas Hoyer, CEO, Tantalus Rare Earths AG
Tel.: + 49 1512 4017229
Thomas.hoyer@tre-ag.com
Markus Kivimäki, EVP, Tantalus Rare Earths AG
Tel.: +358 503495687
Markus.kivimaki@tre-ag.com
German media contact:
rikutis consulting
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Tel.: +44 (0)20 3772 2500