Last checked at 27 Mar 2015 07:00
Orogen Gold plc
("Orogen" or the "Company")
Issue of Equity
Further to the announcement on 1 July 2014 regarding the drilling for equity agreement with DEM Geosciences SAL ("DEM") for the provision of diamond drilling services to the Company, Orogen has issued to DEM 36,350,350 new ordinary shares of 0.01p each in the Company ("Ordinary Shares") at an issue price of 0.2p. This represents the final share issue in relation to drilling services provided during 2014.
Admission
Application has been made to the London Stock Exchange for the Ordinary Shares to be admitted to trading on AIM; admission is expected to take place on 1 April 2015. Following admission, the enlarged issued share capital of the Company will constitute 3,707,669,337 Ordinary Shares.
Lock-in
DEM has undertaken not to dispose of any interest in the 36,350,350 new Ordinary Shares for a period of two years from the date of issue, save in limited circumstances, such as the acceptance of an offer for the Company or pursuant to a compromise or arrangement sanctioned by the Court, a scheme of reconstruction or offer by the Company to purchase its own Ordinary Shares.
Enquires:
Orogen Gold plc +353 1662 8395
Ed Slowey, CEO
Alan Mooney, FD
Cairn Financial Advisers LLP(Nominated Adviser) +44 (0) 20 7148 7900
Avi Robinson/ Liam Murray
Beaufort Securities Limited (Broker) +44 (0) 20 7382 8300
Elliot Hance
Walbrook (Public Relations and Investor Relations) +44 (0) 20 7933 8780
Paul Cornelius/ Guy McDougall
About Orogen Gold
Orogen Gold plc is a UK public company quoted on the London Stock Exchange AIM market (ticker: ORE). The Company is focused on mineral exploration and development in Europe and is currently operating two gold exploration projects: a) at Mutsk in Armenia and b) at Deli Jovan in Serbia. The Mutsk gold project in Armenia was optioned by Orogen early in 2013 to follow-up reports of a new epithermal discovery within an established gold district. At Deli Jovan the historic high-grade gold mining camp was last in production prior to World War II and has been significantly under-explored in modern times. The Mutsk project has been prioritised by the Company due to the clear potential evident on the property.