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Yorkville Advisors completes GBP15m equity facility with Jubilee Platinum plc

Yorkville Advisors, LLC (Yorkville), the US-based alternative investment manager, is pleased to announce it has entered into a GBP15 million Standby Equity Distribution Agreement (SEDA) on behalf of one of its funds with Jubilee Platinum plc (AIM:JLP / JSE:JLB), a mining exploration and development company with a focus on platinum group elements  and nickel/copper.

 

Through recent acquisitions, the company has added platinum group elements (PGE) and ferroalloy smelting and refining to its capability. The deal was advised out of London.
 
Jubilee Platinum entered into the SEDA to support the execution of its smelting operation and further development of its platinum resources.
 
Pioneered 10 years ago by Yorkville, a SEDA offers companies a low risk, cost effective way of optimising their capital structure in pursuit of their growth strategy. Pursuant to the terms of the SEDA, Jubilee Platinum has the discretion to withdraw funds of up to GBP15 million in tranches in exchange for the issue of new equity for up to 36 months.
 
Leon Coetzer (pictured), Chief Executive Officer, Jubilee Platinum says: “We are delighted to have effected this standby arrangement with Yorkville for funds of up to GBP15 million. This will enable Jubilee to take advantage quickly of identified opportunities to acquire small to medium platinum-chrome mines consistent with the ConRoast growth strategy. This facility means Jubilee can acquire suitable targets without recourse to current cash, which is allocated for our on-going Middelburg smelter expansion and project development plans.”
 
Brian Kinane, Managing Director, Yorkville Advisors UK, says: “We are excited with regard to the establishment of our strategic financing partnership with Jubilee Platinum. We believe that the experienced management combined with innovative technology and vertically-integrated model of Jubilee Platinum represents a prudent exposure to the platinum market.”

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