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Heron Successfully Completes A$141 Million Equity Funding Package for Development of its Woodlawn Zinc-Copper Project
Sep. 07, 2017 08:51AM PST
Base Metals Investing Heron Resources Limited (ASX:HRR TSX:HER, “Heron” or the “Company”) is pleased to announce the successful completion of its A$141 million1 Equity Funding as part of the full A$240 million total Woodlawn development funding package announced to the ASX & TSX on Friday, 30 June 2017. As quoted in the press release: Highlights Woodlawn is fully …
Heron Resources Limited (ASX:HRR TSX:HER, “Heron” or the “Company”) is pleased to announce the successful completion of its A$141 million1 Equity Funding as part of the full A$240 million total Woodlawn development funding package announced to the ASX & TSX on Friday, 30 June 2017.
As quoted in the press release:
Highlights
Woodlawn is fully funded through construction and ramp-up
Global mining and private equity cornerstone investors Greenstone, Orion and Castlelake, on behalf of funds it manages, secure strategic shareholdings
Institutional placement heavily oversubscribed and supported by a number of high quality existing and new institutional investors
Full A$5 million raised from the Share Purchase Plan through take-up by existing shareholders and placement of shortfall
Progressing the remaining conditions precedent for the US$60 million senior debt facility and US$16 million silver prepayment facility
Orion’s Peter Rozenauers and Castlelake’s Ricardo De Armas to be welcomed to the Board as Non-executive Directors
Heron on track for first production targeted late 2018 / early 2019
