Last checked at 11 Dec 2023 16:53
Red Rock Resources PLC
("Red Rock" or the "Company")
Issue of Shares and Update
Total Voting Rights
11 December 2023
Red Rock Resources Plc, the natural resource exploration and development company with interests in gold, copper, cobalt, lithium and other minerals, announces that it has placed 100,000,000 ordinary shares pursuant to a £110,000 subscription by a high net worth investor at £0.0011 per share ("Subscription").
The investor has provided personnel on an assignment to work with the Company on bringing lithium assets in Zimbabwe and gold assets in Burkina Faso into production and establishing an export pipeline for lithium. The Company has paid for a number of costs in advance and where there was urgency to meet additional costs these have been funded by the investor on the Company's behalf. Settlement of these agreed costs, amounting to £58,204.62, constitutes part of the Subscription. Cash proceeds of the Subscription are for working capital purposes as the Company continues to develop its projects in Africa..
Highlights
· £110,000 net raised by the issue of new shares to a single high net worth investor
· All costs for the export of the first 200 tons of lithium to destination port are fully paid
· A geological team led by Dr Willem Smuts and including our local personnel has started to assemble in Burkina Faso to begin work on the first targets including alluvial/colluvial areas
· Progress continues in Kinshasa in relation to the arbitration award announcement
Red Rock CEO Andrew Bell comments: "This has been an extremely busy, but also a productive, period for the Company. We will continue pushing forward through the Christmas and New Year periods, as we pass, or approach, critical milestones. Further announcements will be made when appropriate."
Admission to Trading on AIM and Total Voting Rights
Application is being made for 100,000,000 Shares to be admitted to trading on AIM, the admission of which it is expected on or around 18 December 2023.
In accordance with the provision of the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority, the Company confirms that, following the issue of the Shares, its issued ordinary share capital will comprise 2,670,097,791ordinary shares.
All of the ordinary shares have equal voting rights and none of the ordinary shares are held in Treasury. The total number of voting rights in the Company will therefore be 2,670,097,791. The above figure may be used by shareholders as the denominator for the calculations to determine if they are required to notify their interests in, or change to their interest in, the Company.
For further information, please contact:
Andrew Bell 0207 747 9990 Chairman Red Rock Resources Plc
Roland Cornish/ Rosalind Hill Abrahams 0207 628 3396 NOMAD Beaumont Cornish Limited
Jason Robertson 0207 374 2212 Broker First Equity Limited
Bob Roberts 0203 8696081 Joint Broker Clear Capital Corporate Broking
This announcement contains inside information for the purposes of Article 7 of Regulation 2014/596/EU, which is part of domestic UK law pursuant to the Market Abuse (Amendment) (EU Exit) regulations (SI 2019/310) and is disclosed in accordance with the Company's obligations under Article 17.