Invinity Energy Systems, the AIM listed manufacturer of vanadium flow batteries for the large-scale energy storage requirements of businesses, industry and electricity networks, has completed a £20M institutional fund raise at the placing price of £1.75, representing an 8.1% discount.
In March, alongside an equity investment from Schroders, Riverfort provided a £3M convertible loan package to Invinity. This empowered Invinity to complete its merger, secure new contracts including an 8 MWh Vanadium Flow Battery system for a utility-scale solar-plus-storage project and has led to over a 250% increase in share price.
InfraStrata have entered into an agreement to purchase the Harland And Wolff Heavy Industries Limited and Harland and Wolff Group Plc from the administrator for a total consideration for £6million, the purchase will save the 79 jobs that were originally at risk due to the administration of the company.
To fund the purchase InfraStrata have entered into an agreement for £2.2million with RiverFort Global Opportunities PCC arranged by RiverFort Global Capital. The loan is unsecured and interest free on the first tranche of £700,000.
RiverFort are pleased to announce an agreement to participate in the £5.5 million loan agreement announced by UK Oil & Gas plc (“UKOG”) on 7 August 2019 in connection with the acquisition of Magellan Petroleum (UK) Investment Holdings Limited. (“Magellan”) Magellan holds a 35% direct interest in the Horse Hill oil field and surrounding highly prospective PEDL137 and PEDL246 licenses.
RiverFort’s participation in the loan is expected to be £700,000 and will be issued via participation certificate from RiverFort Global Opportunities PCC Limited.
RiverFort continues to actively deploy its investment capital and in recent weeks has made other investments totalling over £150,000.
The Company is pleased to announce that it is participating in the £5.7 million investor sharing agreement (“ISA”) which forms part of a fundraising of up to £8.25 million announced by Anglo African Oil & Gas plc (“AAOG”) on 17 July 2019
The Company is pleased to announce that it is participating in the £5.7 million investor sharing agreement (“ISA”) which forms part of a fundraising of up to £8.25 million announced by Anglo African Oil & Gas plc (“AAOG”) on 17 July 2019. This fund raising also includes Miton Asset Management investing around £2.6 million in a placing of ordinary shares in AAOG. The structure of the ISA is such that 109,331,011 ordinary shares in AAOG, are issued to the ISA
investors and the subscription monies payable for these shares are then paid back to these investors.
These monies will then be repaid to AAOG in 12 equal monthly instalments by the investors, subject to certain adjustments based on the performance of the AAOG share price and the trading of the shares by the investors. The Company’s involvement is through a participation certificate issued by RiverFort Global Opportunities PCC Limited rather than through a direct interest in the ISA. This is a reference linked financial instrument that provides similar economic benefits to the holder as if they were co-investing directly in the underlying investment enabling the Company to participate in any gains realised through the ISA.
Riverfort arranges funding of US$22.5 Million for the execution of the Kabwe Project
Jubilee is pleased to announce that it has executed a share purchase agreement for the acquisition of the Sable Zinc refinery in Kabwe Zambia. The combined secured funding fully funds the Acquisition as well as the project capital required to implement the Project to produce zinc, vanadium and lead from the surface material at Kabwe. The funding was successfully secured in partnership with the Company’s lead arranger RiverFort Global Capital Ltd and its corporate broker Shard Capital Partners LLP with assistance from WH Ireland.
RiverFort facilitates joint loan facility of £3 Million for the development of the Balcombe Field Discovery
The Company has entered into a £3 Million loan facility (“Facility”) with YA II PN Ltd and Riverfort Global Capital. Proceeds of the financing will be primarily deployed for the future development of the Balcombe Field Discovery.
RiverFort supports Live Company with £1 Million acquisition finance
Live Company Group plc (AIM: LVCG) is pleased to announce completion of the acquisition of Bright Bricks Holdings Limited (“Bright Bricks”), following payment of the £2.167m cash consideration and issue of the 8,461,536 new ordinary shares of 1p each in the Company (“Consideration Shares”) to the vendors of Bright Bricks (“Vendors”). The Company has today entered into an agreement (the “Agreement”) for the provision of a £1,000,000 loan facility (the “Facility”) arranged by RiverFort Global Capital Limited.
Red Rock Resources collaborated with RiverFort investors to provide secured bridging finance to Steelmin, a ferro-silicon smelter in Bosnia. The investment transaction resulted in Red Rock Resources and RiverFort investors recovering all of their combined principal capital and Red Rock Resources securing a 22% equity interest in Steelmin.
In mid 2017 Red Rock Resources had come across Steelmin in Bosnia just as the latter was looking for the final stage of capital to bring its smelter into production. The opportunity looked to have potentially very attractive operating and financial characteristics once in production.
Steelmin is the owner of a well-built plant in ex-Yugoslavia, with one 48 MVA furnace installed by Elkem and one 30 MVA furnace installed by Tagliaferri. Steelmin was in the final stages of generating production from the first furnace, with a target production run-rate of €36m in annual revenues and €7m EBITDA.
In collaboration with Riverfort, Red Rock executed a process of intensive negotiations and due diligence with Steelmin to complete the ‘last dollar’ finance. On 23 June (and 3 July last year) the deal was announced. Red Rock would borrow a $4.4m Note from a consortium arranged by Riverfort, and would then lend to Steelmin a €3.85m Loan.
By mid-January Steelmin signed up a new longer term lender, which would also provide additional working capital and possibly expansion finance, and on 21 February, less than eight months after the initial announcement, Red Rock Resources announced that its Loan had been repaid in full and it had repaid the remaining part of the Note. After repayment of RiverFort investors, Red Rock holds an undiluted 22% interest in Steelmin which is preparing to start production in the near term.
Based on the success of its Mistubishi-Hernic project which was financed by RiverFort Global Capital, Jubilee Platinum enters into a $50M, 3-year strategic project finance agreement with a syndicate of investors managed by RiverFort Global Capital to expand on its world-leading position in the profitable recovery of metals from mining waste. The RiverFort syndicate will provide senior-secured (non-equity) asset finance to projects sourced, diligenced and operated by Jubilee Platinum. The funding will allow Jubilee Platinum to accelerate towards unlocking a significant portion of the large global potential that exists in the reprocessing of surface materials. Benefits of this strategy include (1) a long-term income yield linked to the success of each recovery plant, (2) targeting by each recovery plant of production costs in the lowest quartile on a global basis, reducing the impact of any future market correction and (3) positive environmental benefits of each recovery plant leading to increasing opportunities as regulatory authorities and reputational pressure lead to more mining companies seeking sustainability solutions.
RiverFort attends 121 Mining Investment London gathering
Each year the 121 Group holds multiple industry focused finance events around the globe, providing investors and corporates with high quality forums and a gathering place for the latest in market intelligence, project updates and funding opportunities. This year’s 121 Mining Investment London conference, attended by RiverFort Global Capital in the heart of London’s financial district, brought together over 60 international natural resource companies and 250+ institutional investors and analysts. One-on-one meetings provided ample opportunities for our mining team to receive updates on some of the world’s most promising natural resource plays and an intimate setting for company management teams to present the latest in corporate strategies and financing opportunities. Said RiverFort mining specialist Andrew Nesbitt: “With prices of key metal and resource commodities either rising or stabilizing over the past year, we saw the amount of funding partnership opportunities at this year’s London 121 Mining Investment gathering increase. As always, the one-on-one meetings with management teams allowed us to meet and refamiliarize ourselves with some of the most attractive opportunities in the natural resource space.”
Artemis Resources announces acquisition of the Radio Hill mining asset
Artemis Resources has today announced the acquisition of the Radio Hill Nickel/Copper/Cobalt Mine and Metallurgical Plant located in the Pilbara Region of Western Australia. The acquisition, funded via a $2M facility provided by a consortium of institutional investors and arranged by RiverFort Global Capital, represents a major milestone in the company’s goal of creating a “hub-and-spoke”-style operation in the region and a step towards building a multi-faceted production company with widespread asset exposure, consisting of the vast and growing cobalt, copper, nickel, zinc, gold, palladium, platinum and iron ore resources within the region inhabited by the Radio Hill Mine.
Tom Winnifrith and RiverFort CEO co-author structured finance white paper
Making Structured Finance Work! Tom Winnifrith, founder of leading stock exchange commentary website Share Prophets, and Brian Kinane, CEO of RiverFort Global Capital, have published a co-authored structured financing solutions white paper. It has always been RiverFort’s view that structured finance, when done right, provides a valuable source of capital to public companies, enabling management teams to execute business strategies that enhance shareholder value. In their paper, Tom and Brian provide a deeper understanding of the positive aspects of structured financing by (1) distinguishing between reasonable and unreasonable structures, (2) identifying ways in which companies and shareholders can arrange funding to complement equity and debt investments that manage financial risk and (3) looking at how the industry in general can work to institutionalise structured finance instruments in order to make them a routine part of the equity capital markets.
RiverFort receives authorization from FCA
RiverFort Global Capital are delighted to announce that they have today received authorization from the Financial Conduct Authority (FCA) in the United Kingdom. Our reference number is 766760. As a result of obtaining their own authorization, RiverFort is no longer an Appointed Representative. This authorization allows us to continue to engage with our clients to the highest standards which they are accustomed to in addition to ensuring we adhere to the strict regulatory standards expected.
RiverFort sponsors UK Investor Show 2017
Recognised as the UK’s top one-day event for investors in London, this year’s UK Investor Show was held at the Queen Elizabeth II Conference Centre in Westminster. With over 2,500 people and 100+ major international growth companies, brokers and PLCs in attendance, the show was highlighted by expert panel analysis on trending industry topics, CEO company presentations and an open showroom with hundreds of company-focused stalls. RiverFort Global Capital CEO Brian Kinane was granted the honor of hosting a major panel session with several leading gold mining company CEOs and industry experts focused on gold-centric investments across equity markets. Furthermore, RiverFort teamed up with VR Immersive Education, a virtual reality software company dedicated to creating quality educational experiences, to present conference attendees with a VR demo based on the Apollo 11 space mission, which proved to be one of the event’s most-well attended exhibits.
Mining industry gathers in Cape Town for African Mining Indaba
For over 20 years hundreds of companies, industry experts, institutional investors and government representatives have descended on Cape Town, South Africa, to attend Investing in African Mining Indaba, a week-long conclave dedicated to the forefront of successful capitalisation and development of mining interests in Africa. Committed to the sustainable advancement of the mining development and investing, the gathering brings together the most important people at the forefront of the mining industry for a week of enhanced networking, interactive corporate presentations and proactive meetings between businesses and investors. This year, RiverFort Global Capital was extremely pleased to co-host along with VSA Capital an extremely well-attended corporate event in the heart of Cape Town’s waterfront district entailing an evening of industry networking and fun. RiverFort mining specialist Andrew Nesbitt commented: “I look forward to attending Indaba every year, as it is truly one of the premier gatherings within the industry, all with the backdrop of beautiful Cape Town. I’m especially proud that RiverFort was able to co-host such a well-received event this year, with proceeds going to XXXX charity.”
RNC Minerals receives financing to fund Beta Hunt Mine operations
Located in the prolific Kambalda mining district in Western Australia, RNC Minerals’ 100%-held Beta Hunt Mine combines an excellent location in an established mining region, existing infrastructure, a history of successful and increasing gold and nickel production and tremendous exploration potential, all making the asset one of the premier mining operations in Australia. Today RNC Minerals announced that it has entered into a $2.5M financing facility arranged by RiverFort Global Capital that will provide capital to be used towards the push towards positive cash flow generation at the Beta Hunt Mine. Specifically, the financing provides RNC Minerals with near-term operating flexibility and entails a low cost working capital package that will support the company’s aggressive ramp-up of exploration and production at Beta Hunt.
Keras Resources to acquire the Klondyke Gold Project
Keras Resources, the AIM-listed Australian gold mining company, has announced the low-cost acquisition of 100% of the Klondyke Gold Project in Western Australia, which immediately elevates the company towards its goal of becoming a major stand-alone, owner-operated gold miner in the region. Acquisition of the Klondyke Gold Project has been funded via a $2M financing agreement with a consortium of institutional investors arranged by RiverFort Global Capital. The acquisition represents the company’s first milestone towards consolidating the Warrawoona Greenstone Belt, a highly prospective gold region in the Pilbara region of Western Australia, and Keras plans to commence drilling operations shortly in order to gain knowledge of the geology of the play and to confirm historic results in parallel with detailed mapping and review of the entire area.
Amphion Innovations receives funding for portfolio investments
Coming off a successful AIM-IPO in 2015 coupled with a follow-up £22M institutional investment, Amphion Innovations’ portfolio company Motif Bio is widely seen to be on the verge of a breakthrough in the development of antibiotics designed to be effective against multi-drug resistant bacteria. To this end, Amphion Innovations, developer of medical, life science and technology businesses, has today announced receipt of a funding of $1.8M, co-led by RiverFort Global Capital, which provides capital to support the growth of Motif Bio going forward, as well as progress other portfolio business pipelines through development stages. The investment marks the commencement of a relationship between RiverFort and Amphion as the company continues to help build shareholder value in its high growth company portfolio in the US and UK.
Jubilee Platinum to commence construction on PGM recovery plant via US$8M debt funding
Jubilee Platinum uses $8M of debt funding secured from investors arranged by RiverFort Global Capital to enable the commencement of construction of one of the world’s most advanced metal recovery plants. The plants will recover platinum-group metals from the waste product of the Mitsubishi-Hernic ferro-chrome plant mine, the 4th largest operation of its type globally. Jubilee Platinum is implementing a very progressive strategy that improves the net operational earnings for Hernic, provides a long term income stream and positions the company as a world leader in the profitable recovery of metals from mining waste. Residual metal in mining waste is a large global market that historically has seen under-investment. In the opinion of RiverFort Global Capital investors, Jubilee Platinum’s advanced technological skills, intellectual property and experience put it in a leading position to transform this sector in a globally significant market, using methods that are sustainable from an environmental and societal perspective.