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10 Feb 2011 13:25
Ortac Resources Ltd / Epic: OTC / Market: AIM / Sector: Mining & Exploration
10 February 2011
Ortac Resources Ltd ('OTC' or 'the Company')
Exercise of Options
Ortac Resources Ltd today announces that it has issued and allotted 10,000,000 new Ordinary Shares of no par value pursuant to an exercise of 10,000,000 options at an exercise price of £0.01.
Application has been made for the new ordinary shares to be admitted to trading on AIM. The new ordinary shares will rank pari passu with the existing ordinary shares in the Company and trading of these shares on AIM is expected to commence on 16 February 2011.
Following Admission, the Company's enlarged issued share capital will comprise 2,305,679,020Ordinary shares with one voting right per share. There are no shares held in treasury. The total number of voting rights in the Company is therefore 2,305,679,020 Ordinary shares.
**ENDS**
For further information please visit www.ortacresources.com or contact:
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Vassilios Carellas | Ortac Resources Ltd | Tel: +44 (0) 20 7440 0646 |
Charles Wood | Ortac Resources Ltd | Tel: +44 (0) 20 7440 0646 |
Roland Cornish | Beaumont Cornish Limited | Tel: +44 (0) 20 7628 3396 |
Rosalind Hill Abrahams | Beaumont Cornish Limited | Tel: +44 (0) 20 7628 3396 |
Jeremy King | Optiva Securities Ltd | Tel: +44 (0) 20 3137 1904 |
Jason Robertson | Optiva Securities Ltd | Tel: +44 (0) 20 3137 1906 |
Hugo de Salis | St Brides Media & Finance Ltd | Tel: +44 (0) 20 7236 1177 |
Lottie Brocklehurst | St Brides Media & Finance Ltd | Tel: +44 (0) 20 7236 1177 |
Notes:
Ortac Resources Limited is an AIM listed exploration and development company focussed on the development of precious metal projects in Europe. Its focus is on the Carpatho Balkan Metallogenic Belt, initially the Central Slovakian Volcanic Field.
The Company has a current JORC compliant resource of 1.1Moz of gold equivalent from its flagship Kremnica Gold Project in Slovakia, and Snowden Mining Industry Consultants Pty are in the process of preparing a preliminary scoping study on the project, which is expected in H1 2011. The Company's objective is to complete a definitive feasibility study and environmental impact assessment with a view of bringing the Kremnica Gold Project into production.
The Company's strategy is to utilise its highly experienced board and management team and its solid foothold in Central Europe to consolidate additional precious metal development opportunities to build shareholder value.
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