Britannia Mining said Tuesday that it is expecting to receive well over $25 million in funding from European private equity firm REM Capital. According to Britannia Mining’s management, the company is expecting a figure closer to $40 million. With offices in New York, the UK and Malawi, Britannia Mining is a mining development company.
NEW YORK, NY–(Marketwired – Dec 10, 2013) – Britannia Mining, Inc. (BMIN or the Company) (OTC Pink: BMIN), the successor of a merger between UK based mining development company Britannia Mining Plc and U.S. based Micron Enviro Systems (Former Symbol: MSVS), announced that the company anticipates a capital infusion in excess of USD $25 Million through a senior debt facility proposed by REM Capital — an European private equity firm founded by Gavin Scott; fund manager recently appointed to Britannia’s board as a Non-Executive Director
“Securing substantial, non-toxic financing, affords us not only the ability to pursue the completion of our current projects, but to aggressively leverage revenue generating opportunities that are immediate and can positively impact our 2014 balance sheet,” stated Nicola Newmarch, COO of Britannia Mining.
Management is confident that the formal proposal from REM Capital will arrive closer to USD $40 Million, given the greater immediate income value of acquisition targets and current resource projects. A formal offer from REM Capital is anticipated prior to the upcoming holidays. This will give Britannia the ability to begin preparing the roll-out of their 2014 plan.
Ms. Newmarch concluded, “We believe that REM Capital truly recognizes the value in Britannia’s mineral projects as well as this management’s capability. With a first round capital infusion of this size, we will have the means to expedite various programs which will establish viable profit centers for the Company.”
About Britannia Mining
Britannia Mining is a mining development company that is focused on acquiring high quality mineral and mining projects. The company is committed to developing revenues by conducting exploration and evaluation activities. The company’s mission is to identify potential mineral targets to deliver value via developing sales opportunities.
The company is targeting revenue producing assets and is currently in negotiations regarding acquisition of mineral stockpiles.
The company has been developing a high grade iron ore project in Malawi and is currently renewing the Exclusive Prospecting License (EPL) for iron ore over 650 sq km at Nthale Blantyre. The company is targeting 100 Million Tons (MT) iron at Nthale Hill (20 sq km).
Britannia Mining has inherited the legacy projects (Gold claims) of the former Micron Enviro Systems in the Yukon and plans to conduct sampling on this area.
For more information, please visit www.BritanniaMining.com.
About REM Capital
REM Capital Management is a European investment firm under private ownership. The firm is centered on three core activities: Private Equity, Asset Management and Structured Finance. REM Capital connects clients to the institutional investment market for banking, asset management, private equity and structured finance.
The firm operates a quantitative investment model designed to capture upside while limiting downside and is predominantly focused to uncorrelated investment returns. The firm’s institutional fund platform provides its investment fund clients with access to sources of capital for the long term.
Specialties are: Private Equity, Asset Management, Investment Funds