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Additional Information
Market: AIM
Sector: General Mining - Rare Earth Minerals
EPIC: NVTA
Latest Price: 4.95p  (2.48% Ascending)
52-week High: 176.00p
52-week Low: 4.68p
Market Cap: 5.92M
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Noventa Limited
www.noventa.net

Noventa's strategy is to be the world's largest, low cost industrial scale supplier of tantalum concentrate, a rare speciality metal widely used in the consumer electronics industry.  There is currently a shortage of tantalum supply and stock levels in the industry are being run down. Noventa is in a unique position to expand production to meet the industries needs.

The Jersey based Company's Marropino mine in Mozambique resumed production in April 2010, and the Company has now embarked on a Strategic Plan which it believes will build the foundations of a long-term, profitable, cash generative and sustainable business.

Full Noventa Limited profile here
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Noventa set to raise over £5 million in new capital

3rd Sep 2010, 10:00 am Noventa has gain considerable traction in recent months, as it continues to turn-around, the previously underperforming, Marropino tantalum mine

Noventa (LON:NVTA) has secured over £5 million in new capital, with a £3.2 million equity placing and a separate £1.9m share subscription agreement.

The company said that the funds will be used for a combination of capital expenditure and general working capital purposes.

"We are delighted that Noventa has secured this additional capital, which will make a significant contribution to our overall funding requirement as announced in the strategic plan," Noventa Chairman Eric Kohn said.

In the £3.2 million equity placing, Noventa will issue approximately 42 million new placing shares and 8.4 million new subscription shares, priced at 6.5p each. The placing has been arranged by the company’s broker Religare Capital Markets.

The separate subscription deal sees General Mediterranean Holdings - a Luxembourg-based holdings company - invest £1,966,845 through its subsidiary CIPAF (Compagnie Internationale de Participations Bancaires et Financieres).

CIPAF will subscribe for 29.8 million new shares in three tranches. The first tranche of 9.95m shares will close on the 30th September 2010, followed by two more tranches of 9.95m shares, closing at the end of December 2010 and March 2011 respectively.

Under the terms of the deal, Noventa will receive the new capital as each tranche closes.

Additionally, Noventa will issue warrants to investors in both fundraisings.

The investors will receive one warrant, to subscribe for one ordinary share at 10p, for every two new placing/subscription share - i.e. 0.5 warrants per placing/subscription share.

The warrants will expire in two years from today.

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