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A-BOMB - one sell for 2k and few penny bot trades? where are you looking. Also doesn't matter what the potetial or the price a market has buys and sells. MMs don't hold much stock, if no one sold no one could buy, its a market ..

Problem is no one cares, we just need chuddich confirmed to be drilled without waiting another decade. We cant have our heads turned by other projects, we have no money either.

All I know is 5 years in and this is the lowest price the SP has ever been. Imagine if he needed cash soon which is will, this could get very scary. ‘Final negotiations on rig’ - November 2024 his words - now look at us. Annoying.

Very unlikely they will raise lower than here if they need the cash it will be for something specific and, like last time, likely news to spike it beforehand to ensure any dilution is minimal - of course a premium raise would be the best outcome of course and with options at 2 and 300% higher they don't wan to keep dampening down the price with low ball raises, and they shouldn't need to.

Beauty is it also doesn't need a huge deal in compared to to the JORC/asset value, i mean a tiny 20-30m farm-in or JV for a small proportion of the asset is 5-600% of current mc ..

Plus the other deal for 10m is shares .. this should be 9p-12p minimum - silly markets ..

Roquefort Therapeutics plc

("Roquefort Therapeutics" or the "Company")

Proposed Sale of Oncogeni Ltd

Roquefort Therapeutics (LSE:ROQ), the Main Market listed biotech company focused on developing first in class medicines in the high value and high growth immunology and oncology markets, is pleased to announce the signing of a term sheet for the proposed sale of its wholly owned subsidiary Oncogeni Ltd ("Oncogeni") to The Nations Trust Holding LLC ("Nations Trust") for a consideration cash amount of up to US$12 million (the "Term Sheet"). Roquefort Therapeutics and Nations Trust Holding intend to sign a binding share purchase agreement (the "SPA") within 60 days, at which time further details of the transaction will be announced.

Principal Transaction Terms

The Term Sheet includes the following principal terms:

· Sale of 100% of the issued share capital of Oncogeni to Nations Trust; and

· Cash consideration of US$12 million consisting of upfront and milestone payments.

Oncogeni Portfolio

Oncogeni holds the Company's exclusive licences to the Mesodermal Killer cell (MK) and STAT-6 siRNA (siRNA) patents. Since acquiring Oncogeni in 2022 for £5 million in consideration (100% shares), Roquefort Therapeutics has completed the in-house development of the MK and siRNA programs in oncology and immunology indications and expanded the siRNA patent portfolio.

About Nations Trust Holding LLC

Nations Trust Holding LLC, based in the UAE, is one of the largest and most diversified conglomerates based in the UAE with dedicated Investment and R&D subsidiaries and services.

The Company will provide shareholders with further updates regarding the progress of the SPA as appropriate.

Ajan Reginald, Roquefort Therapeutics CEO commented:

"The proposed sale of Oncogeni is an important step towards completing the initial phase of the Company's strategy to acquire and develop pre-clinical assets and to then realise value through completing trade-sale transactions. We are pleased to be working with such a well-funded and highly resourced partner to take the Oncogeni portfolio into clinical trials, which if successful, will create long term value for the Company."

They are not asking anyone to provide 3m for anything, currently. It’s just headroom until we know any different, headroom is just that headroom - without it any small cap would struggle with ‘going concern’. The interesting bit are comments around revenue, it suggests a near term plan to kick start something … I think people will buy this heavy now as it’s getting intriguing … I’ll certainly be adding this week relatively large.

Yep just a waiting game, the resource at JORC isn’t going anywhere, so it could happen in next few weeks/months or maybe next year but in the end at some point this is going to be 10-20-30 bags and maybe a lot more. 10 bag only 45m mc!! You have some juniors / peers higher than that now with lower value resources and a lot less further on. It’s all about a JV, farm-in, sale here eventually, partially or whole, to someone with deep pockets and then we move to a completely different level. Certainly a lot of commentary around Greece recently, which is adding market focus to what Rock have … a safe and friendly jurisdiction

Portfolio Power agree - The potential dilution, capped at 7.5M MC at current prices, remains minimal when considering the scale of the resource. Importantly, this is just potential, it doesn’t mean the full amount will be executed. Many small caps don’t even have a JORC-compliant resource, which is a major advantage. Larger companies typically overlook small caps until they’ve done the hard work to prove up their resource, and most never even reach that stage.

At this point, the company is unlikely to raise at a lower valuation. They now hold a strong position, and their last raise came after a price spike, meaning the effective discount was close to the pre-spike price. Additionally, with their options structure, diluting at a lower price wouldn’t be in their interest, as the options only hold value at 200-300% above the current share price.

It looks like Rock is finally reaching the critical phase of its growth. At a market cap of just 4.5M, the potential upside in 2025, given upcoming catalysts, is massive. From a risk-reward perspective, buying now and holding leans heavily in favour of reward—especially when stepping back and looking at the bigger picture.

An elevated level of authority to issue more shares typically refers to the approval required from a company's board of directors or its shareholders. Often, companies need to amend their articles of association or obtain shareholder approval during a general meeting to increase the authorised share capital, allowing them to issue additional shares. This process ensures transparency and maintains control over equity dilution.

St martins - ‘Elevated level of Authority" is standard wording for the right to issue a higher level of stock.

Think about it like this .. if ultimately they need the 3m dilution over the course of time, which takes it to 7.5m mc … isn’t gonna matter in the grand scheme of a 8-16bn valued resource …

If they are not planning on mining themselves sounds like something may be aligning …’’to positive cash flow’

The board is requesting permission for an elevated level of authority to ensure the Company has sufficient flexibility to explore multiple opportunities to grow the Company towards a positive cash flow. This growth ambition includes the Molaoi Zinc Project and several potential opportunities.

There is no difference between gex and 90% of small caps with a small amount of cash and non bankable assets. So, if that’s technically insolvent, every single one is the same. Ignore them, they heard the toothless alcoholic use that term when drunk and they keep repeating it.

OLLIE42 - your an odd chap who doesn’t seem to understand the very basics of GM resolutions. Is this the first share you’ve deramped with zero knowledge of how things work.

If shareholders panic at that they shouldn’t be investing. The authority to issue shares is a resolution in nearly every agm - that’s just the way it is. How do you expect a business with zero revenue to operate without regular capital raises throughout the year and to do that they need shareholder authority via a vote. They can’t usually get regular debt. You wouldn’t think many posting here understand how small cap / AIM works - not even sure why these things need explaining or even discussing. This process only ends with cash inflows from another source, mining, JV, full sale etc etc which I believe will have pen soon (the last 2 anyway) ..

Try AI

Technical insolvency is when a company or individual's debts are greater than their assets.

So firstly they have zero debt. (and around 3-4m in the bank) and secondly they are large assets with an NPV so far or $1.6bn - try harder non-shareholder troll / TW foot soldier ..

''You say no panic .. why would they want this authority if they had no intention of using it ?''

they might or likely will use it,. this is pre revenue. like nearly every small cap so they generally raise thoughtout a financial year to fund the business

No they are not issuing stock. (Not yet anyway via that rns) .. standard stuff however having the authority to do so up to a limit.