Yorkville Advisors, LLC (Yorkville), the US based investment manager to a family of funds, is pleased to announce that it has entered into a £3 million Standby Equity Distribution Agreement (SEDA) with AIM and Frankfurt listed Regency Mines Plc (AIM: RGM; Frankfurt: RM4), which is focused on exploring areas of copper and nickel potential in Western Australia, Queensland, and Papua New Guinea. The deal was advised out of London.
Regency Mines entered into the SEDA as a means of raising additional capital to fund its sulphide nickel and other exploration activities as well as for general working capital.
Pioneered 8 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. The terms of the SEDA enable Regency Mines, at its discretion, to withdraw funds of up to £3 million in tranches, in exchange for the issue of new equity, at a discount to the prevailing market price at each drawdown, for up to 24 months from the signing of the agreement.
Paul Strzelecki, Managing Director, Yorkville Advisors UK, said: “The SEDA gives companies the flexibility of financing as and when they need it. This is of crucial importance to a largely event driven industry such as mining. We have a previous relationship with the directors of Regency and are delighted to be completing a financing with them.”
About Yorkville Advisors and Yorkville Advisors UK (Yorkville UK)
Yorkville Advisors UK, LLP (yorkvilleadvisors.com) is the London-based sub-advisor to the New Jersey, US-based Yorkville Advisors, LLC (Yorkville), which is the investment manager to a family of funds.
Founded in January 2001 by Mark Angelo, Yorkville specialises in providing flexible, innovative debt and equity investments and financing in publicly listed companies worldwide in a variety of sectors including energy, mining, technology media & telecommunication (TMT), healthcare and shipping. Yorkville has a broad investment mandate and the flexibility to invest across many geographies as well as sectors.
Yorkville tailors its financings according to each company’s need and offers a mix of debt structures, bridge financings, asset backed loans, equity facilities and, in some cases, equity injections.
Yorkville has offices in Jersey City, New Jersey; Jupiter, Florida; London and Hong Kong. It also has joint venture agreements in Italy, Greece and Israel.