Heron Successfully Completes A$141 Million Equity Funding Package for Development of its Woodlawn Zinc-Copper Project

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

 
Click here for the full text release