Cornish Metals has selected Minexia’s platform-based finance solution NR Private Market to handle the interest from private investors wishing to participate its flotation on the London Stock Exchange.
Cornish Metals announced its intention to apply for admission of its shares to trading on the Alternative Investment Market (AIM) of the London Stock Exchange, earlier this month.
Minexia operates an investor platform at www.nrprivatemarket.com which is regulated by the Financial Conduct Authority. This is a free to invest, funding site which is designed to support earlier stage mining exploration and project development companies.
Richard Lloyd, chief executive of Minexia, explained: “Potential investors in Cornwall, and beyond, will need to sign up to our site. They will complete some KYC and Anti-Money Laundering checks and confirm that they are either a ‘Self-Certified Sophisticated Investor’ or a ‘High Net Worth Investor’. The Cornish Metals profile will be live from 8 am on 25 January 2021 until 1st February 2021.”
Richard Williams, chief executive of Cornish Metals, added: “We are very pleased to have found a way to enable certain UK private investors to become shareholders in Cornish Metals. We expect the listing of Cornish Metals will be of interest in Cornwall and throughout the UK.”
Cornish Metals announced its intention to float on January 13 and is proposing to raise a minimum of £5 million through an equity placement of new Common Shares to advance the United Downs copper-tin project.
The company’s core projects are the United Downs underground copper-tin exploration project and the South Crofty tin project in Cornwall. Subject to completion of the AIM listing and funding, the company’s plan is to conduct a drill programme at United Downs to define the resource potential.
The offer to certain private investors will be made under an exemption from the requirement to publish a prospectus and accordingly the maximum aggregate demand from investors through Minexia’s NR Private Market platform will be limited to €8 million. The offer will not be made available to investors in the United States of America or Canada.