Regency Mines Brings New Funds Into U.S. Coal Business
[Click image to enlarge]
After some delay, Regency Mines PLC as managed to secure an investment into its US coal business, Mining Equity Trust.
Following the US$750,000 investment into MET by investment company Carraigbarre Capital Ltd, Regency will hold a 25.84 percent stake in MET.
CCL will become a 45.02 percent shareholder in MET, with a board seat.
Legacy Hill Resources will remain the operator of Omega Holdings, which owns the coal projects.
The new money will partially recapitalize MET, but more funding is required.
“Both existing partners including Regency have agreed to the reduction in their respective stakes to facilitate this third partner with a view to beginning to realise the promise that attracted them to this investment originally,” said Regency Chief Executive Scott Kainz.
Source: Proactive Investors
About Regency Mines
Regency Mines plc is a small cap natural resource exploration and development listed company on the Alternative Investment Market (AIM: RGM) of the London Stock Exchange ltd in London.
Founded in 2004 and listed in London in 2005 Regency fields an experienced management team with deep natural resource, finance and transactional expertise.
To stop by Regency’s website, CLICK HERE
Be in-the-know when you’re on-the-go!
FREE eNews delivery service to your email twice-weekly. With a focus on lead-driven news, our news service will help you develop new business contacts on an on-going basis.
CLICK HERE to register your email address.
