TIDMROCK
RNS Number : 1080N
Rockfire Resources PLC
20 September 2023
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS
RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE, TRANSMISSION,
DISTRIBUTION OR FORWARDING, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA,
JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN
WHICH SUCH PUBLICATION, RELEASE, TRANSMISSION, DISTRIBUTION OR
FORWARDING WOULD BE UNLAWFUL (OR TO ANY PERSONS IN ANY OF THOSE
JURISDICTIONS).
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT
CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION,
OFFER OR ADVICE TO ANY PERSON TO PURCHASE AND/OR SUBSCRIBE FOR,
OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES IN ROCKFIRE
RESOURCES PLC OR ANY OTHER ENTITY IN ANY JURISDICTION. NEITHER THIS
ANNOUNCEMENT NOR THE FACT OF ITS DISTRIBUTION, SHALL FORM THE BASIS
OF, OR BE RELIED ON IN CONNECTION WITH ANY INVESTMENT DECISION IN
RESPECT OF ROCKFIRE RESOURCES PLC.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE UK VERSION OF THE MARKET ABUSE REGULATION (EU)
NO.596/2014, WHICH FORMS PART OF UK LAW BY VIRTUE OF THE EUROPEAN
UNION (WITHDRAWAL) ACT 2018 ("UK MAR").
20 September 2023
Rockfire Resources plc
("Rockfire" or the "Company")
Result of Subscription to raise GBP3.5 million
Further to the announcement (the "Earlier Announcement")
released by the Company on 15 September 2023 Rockfire Resources plc
(LON: ROCK), the gold, base metal and critical mineral exploration
company, is pleased to announce that it has successfully raised
GBP3.5 million (before expenses), through two new institutional
investors (the "Institutional Investors") subscribing for
700,000,000 new ordinary shares (the "Subscription Shares") at a
price of 0.5 pence per share (the " Subscription Price"). The net
proceeds of the Subscription will be used to: (i) satisfy the
Initial Consideration for the acquisition of Emirates Gold DMCC and
Emperesse Bullion LLC; (ii) contribute towards the costs associated
with the Transaction; (iii) continue drilling at the Molaoi zinc,
silver, lead and germanium project in Greece; and (iv) fund the
working capital requirements within the Company.
The Subscription Shares will, when issued, be credited as fully
paid and rank pari passu with the existing Ordinary Shares,
including, without limitation, the right to receive all future
dividends and distributions declared, made or paid after the date
of issue of the Subscription Shares.
The Subscription is conditional, inter alia, on admission of the
Subscription Shares to trading on AIM ("Admission") becoming
effective. Application has been made to the London Stock Exchange
for the Subscription Shares to be admitted to trading on AIM. It is
expected that Admission will become effective and that dealings in
the Subscription Shares on AIM will commence on or around 26
September 2023.
Paloma Precious DMCC, which holds 400,000,000 Ordinary Shares,
representing approximately 15.7 per cent. of the issued share
capital of the Company as enlarged by the Subscription, has
provided notification to Rockfire that it intends to dispose of its
entire 15.7% interest in the Company and that it is finalising this
sale (the "Paloma Share Sale"). A further announcement will be made
once Paloma Share Sale is completed.
On Admission, the Company's issued ordinary share capital will
consist of 2,544,547,293 Ordinary Shares, with one vote per share.
The Company does not hold any ordinary shares in treasury.
Therefore, on Admission, the total number of ordinary shares and
voting rights in the Company will be 2,544,547,293. With effect
from Admission, this figure may be used by shareholders in the
Company as the denominator for the calculations by which they will
determine if they are required to notify their interest in, or a
change to their interest in, the share capital of the Company under
the FCA's Disclosure Guidance and Transparency Rules.
Capitalised terms used in this announcement have the meanings
given to them in the Earlier Announcement, unless the context
provides otherwise.
The person responsible for arranging the release of this
announcement on behalf of the Company is David Price, Chief
Executive Officer of the Company.
For further information on the Company, please visit
www.rockfireresources.com or contact the following:
Rockfire Resources plc : info@rockfire.co.uk
David Price, Chief Executive Officer
Gordon Hart, Chairman
Allenby Capital Limited (Nominated Adviser Tel: +44 (0) 20
& Broker): 3328 5656
John Depasquale / George Payne (Corporate
Finance)
Matt Butlin / Kelly Gardner (Sales and
Corporate Broking)
Notes to Editors
Rockfire Resources plc (LON: ROCK) is a gold, base metal and
critical mineral exploration company, with a high-grade
zinc/lead/silver/germanium deposit in Greece, and a portfolio of
gold/copper/silver projects in Queensland Australia..
-- The Molaoi deposit in Greece has a JORC resource of 210,000
tonnes of zinc, 39,000 tonnes of lead and 3.5 million ounces of
silver, using a 4% Zn cut off.
-- The Plateau deposit in Queensland has a JORC resource of
131,000 ounces of gold and 800,000 ounces of silver, using a 0.5g/t
Au cut off. 53,000 of these ounces lie within the top 100m from
surface.
-- The Copperhead deposit in Queensland has a JORC resource of
80,000 tonnes of copper, 9,400 tonnes of molybdenum and 1.1 million
ounces of silver, using a 0.13% CuEq. cut off.
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END
MSCNKKBQNBKDPCB
(END) Dow Jones Newswires
September 20, 2023 09:48 ET (13:48 GMT)
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