Last checked at 4 Apr 2023 07:00
Red Rock Resources Plc
("Red Rock" or the "Company")
Placing
Total Voting Rights
4 April 2023
Red Rock Resources Plc, the natural resource exploration and development company with interests in gold, copper, cobalt, lithium and other minerals, announces that First Equity Limited has raised for the Company £223,000 before expenses by placing 123,888,888 new ordinary shares of £0.0001 each in the Company ("Shares") at a price of 0.18 pence per Share (the "Placing"). The net proceeds of the Placing will be used for the Company's activities in Australia, Kenya and Zimbabwe and for general working capital purposes pending the anticipated receipt of funds from the DRC.
In conjunction with the Placing, the Company will grant 123,888,888 warrants, exercisable into Shares at a price of 0.35 pence per Share for 18 months from the date of admission to trading on AIM ("Placing Warrants")
The Company will also grant 12,388,888 broker warrants ("Broker Warrants") to First Equity Limited for its services as Placing Agent, with the same terms as set out above for the Placing Warrants.
Admission to Trading on AIM and Total Voting Rights
Application is being made for 123,888,888 Shares to be admitted to trading on AIM, the admission of which it is expected on or around 13 April 2023.
Following admission of the Shares, the Company's total issued share capital will consist of 1,548,277,328 ordinary shares, with one voting right per share. The Company does not hold any shares in treasury. Therefore, the total number of voting rights in the Company will be 1,548,277,328 ordinary shares. This 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 share capital of the Company under the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority.
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 Joint Broker First Equity Limited
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.
Good to release.