Last checked at 19 Sep 2012 12:59
RED ROCK RESOURCES PLC
("Red Rock" or the "Company")
Issue of Equity
19 September 2012
Red Rock Resources plc ("Red Rock" or the "Company") announces that it has placed 38,823,530 new ordinary shares of 0.1p each (the "Ordinary Shares") representing approximately 4.0% of the Company's issued share capital at a price of 1.7 pence per share to raise £660,000 the ("Placing"). As part of the Placing, North Atlantic Mining Associates Ltd. ("NAMA"), the Company's joint venture partner in Greenland, will receive 35,294,118 shares. NAMA will hold 3.65% of the Company's issued share capital upon completion of the Placing.
The net proceeds of £657,000 from the Placing will be applied towards Greenland related exploration expenses and for working capital purposes.
Application will be made to the London Stock Exchange for the new Ordinary Shares, which rank pari passu with the Company's existing issued ordinary shares, to be admitted to trading on AIM. Dealings are expected to commence at 8.00 a.m. on or around 26 September 2012. Following the Placing, the Company's total issued ordinary share capital will be 966,137,800 ordinary shares of 0.1p.
Enquiries:
Andrew Bell | 020 7402 4580 or 07766 474849
| Red Rock Resources plc | Chairman |
Sandra Spencer | 020 7402 4580 or 07757 660 798
| Red Rock Resources plc | Press Relations |
Gerry Beaney Daniela Amihood | 020 7383 5100 | Grant Thornton Corporate Finance
| Nominated Adviser
|
Nick Emerson | 01483 413500 | Simple Investments Ltd | Broker |