Calgary, Alberta (FSCwire) - BACANORA MINERALS LTD. ("Bacanora" or the "Company") (TSX-V: BCN and AIM: BCN), the Canadian and London listed lithium company, is pleased to confirm that its previously announced equity offering with NextView Capital ("NextView"), a leading Chinese institutional fund management group focused on new technologies and energy, is ongoing. As announced via news release dated 14 December 2017, NextView has agreed to acquire 32,976,635 common shares in the Company (the "Placing") at a price of 94.53 pence (approximately C$1.6223) per share for aggregate gross proceeds of £31,172,813 (approximately C$53,498,000). The previously estimated date for completion (being end of January 2018) is being extended and both parties remain committed to proceeding with the Placing. Further timing updates will be provided as and when available.
About NextView
NextView Capital ("NextView") is an active investment fund based in Beijing and Shanghai, China. NextView Capital has available resources of c.RMB 30 billion and invests primarily in new energy, mineral resources, TMT, sports and consumption sectors. NextView's recent investments include a shareholding in Nanjing Yuebo Auto Electronics Co., Ltd., a leader in the field of electric vehicle systems in China.
NextView's strategic aim is to become a long-term strategic partner of listed companies by investing in them and assisting in the realisation of their long-term investment value.
Earlier this year, NextView together with Tibet Summit Resources Co., Ltd. (a company listed on the Shanghai Stock Exchange) launched a USD 1.5 billion fund focused on investments in the new energy and resources sectors (the "Fund"). The Fund has recently acquired a Canadian listed company with a South American lithium salt lake project. Limited partners of the Fund comprise a number of large Asian institutions including China Huarong Asset Management Co., Ltd. (China Huarong, 中国华融) one of the largest financial asset management companies in China in terms of total assets.
