PYX Resources secures £20 million investment

LONDON, UK: PYX Resources Ltd (LSE: PYX) continues to receive strong investor support announcing a GBP20 million investment commitment from GGY Global Yield LLC SCS (“GGY”), a US$3.4 billion alternative investment firm with offices in Paris, New York, and the Bahamas.

The proceeds from this capital investment will further the Company’s effort to upgrade its mining operations and increase its production volumes, well-positioning PYX to continue its growth.

Commenting on the financing, PYX Resources’ Chairman and Chief Executive Officer, Oliver B. Hasler, said: “The investment commitment is a major milestone in our financing strategy and will enable us to accelerate our previously announced growth plans. We look forward to implementing our vision to become the leading zircon producer globally”.

Founded in 1995, GGY oversees a wide range of developing market investment vehicles and has executed over 530 transactions in over 70 countries. GGY and its partners have access to Small-Mid Cap Management Buyouts, Private Investments in Public Equities, and select venture investments through the family of funds and investment vehicles.

In this tailored agreement, PYX will control the amount and timing of investment under this GBP20 million commitment over a 36-month period, with no minimum subscription obligation.