Horizonte Minerals: Acquisition of Vermelho Nickel-Cobalt Project From Vale and Conditional Placing to Raise Up to GBP 8.5m

Horizonte Minerals, (AIM:HZM)(TSX:HZM) (“Horizonte” or the “Company”) the nickel development company focused in Brazil, is pleased to announce that it has reached an agreement with Vale S.A (“Vale”) to acquire (the “Acquisition”) 100% of the advanced Vermelho nickel-cobalt project in Brazil (“Vermelho”).
In addition the Company is pleased to announce a conditional placing (the “Placing”) of ordinary shares in the Company (the “Placing Shares”) in the U.K. and Canada to raise up to £8.5 million (before expenses) at 3.5p per Placing Share.
Horizonte CEO Jeremy Martin said:

“I am delighted to announce the acquisition of Vermelho which transforms Horizonte into a multi-asset company bringing together two large, advanced nickel assets located in an established mining region in the Para State northern, Brazil.
The Vermelho project also contains a large cobalt resource which Vale planned to process alongside the nickel, which gives Horizonte exposure to an additional commodity stream, in light of the growing interest in both cobalt and nickel for use in the Electric Vehicle battery market.”

Click here to read the full text release.