Cobra Resources PLC Additional Equity Issue (2579E)
27 Oktober 2022 - 8:00AM
UK Regulatory
TIDMCOBR
RNS Number : 2579E
Cobra Resources PLC
27 October 2022
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC
LAW IN THE UNITED KINGDOM OF GREAT BRITAIN AND NORTHERN IRELAND
("UK") PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT)
REGULATIONS (SI 2019/310) ("UK MAR").
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY IN OR INTO AUSTRALIA, CANADA, JAPAN,
THE REPUBLIC OF SOUTH AFRICA, THE UNITED STATES (INCLUDING ANY
TERRITORY OR POSESSION THEREOF, ANY STATE OF THE UNITED STATES AND
THE DISTRICT OF COLUMBIA) OR ANY OTHER JURISDICTION WHERE TO DO SO
WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF
SUCH JURISDICTION.
27 October 2022
Cobra Resources plc
("Cobra" or the "Company")
Additional Equity Issue
Cobra, a gold, rare earth and IOCG exploration company focused
on the Wudinna Project in South Australia, announces that, further
to the admission of 89,839,040 new ordinary shares on 26 October
2022 in connection with the Placing to raise approximately
GBP1,300,000, due to excess demand expressed late in the process,
and in view of satisfying this additional investor interest, the
Company has accepted late applications for an additional 2,300,000
new ordinary shares of nominal value one pence each in the capital
of the Company ("Further Placing Shares") at a price of 1.5 pence
per Further Placing Share, raising additional gross proceeds of
approximately GBP34,500. This will involve the issue of 2,300,000
Further Placing Shares.
The Further Placing Shares will be issued on the same terms as
the Placing Shares with warrants attached on the basis of one
warrant for every two Further Placing Shares, with each placing
warrant entitling the holder to acquire one new ordinary share at
an exercise price of 3.0 pence. This will involve the issue of an
additional 1,150,000 warrants to the placees and 69,000 associated
adviser warrants (also exercisable at a price of 3.0 pence) to
Shard Capital Limited.
The Company has made applications to the FCA and the London
Stock Exchange in connection with the admission of the 2,300,000
Further Placing Shares (the "Secondary Admission"), which is
expected to occur at 8.00 a.m. on 1 November 2022.
The Company hereby notifies the market, in accordance with the
FCA's Disclosure Guidance and Transparency Rule 5.6.1, that on
Secondary Admission, the Company's issued share capital will
consist of 515,249,550 ordinary shares, each with one vote. The
Company does not hold any ordinary shares in treasury. On Secondary
Admission, the total number of voting rights in the Company will be
515,249,550 and this figure may be used by shareholders 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 Company under the FCA's Disclosure Guidance and
Transparency Rules.
Words and expressions defined in the Prospectus (which is
available on the Company's website at https://cobraplc.com/ )
shall, unless the context provides otherwise, have the same
meanings in this announcement.
For further information please contact:
Cobra Resources plc via Vigo Consulting
Rupert Verco (Australia) +44 (0)20 7390 0234
Dan Maling (UK)
SI Capital Limited (Joint Broker)
Nick Emerson
Sam Lomanto +44 (0)1483 413 500
Shard Capital Limited (Joint Broker)
Erik Woolgar
Damon Heath +44 (0)20 7186 9952
Peterhouse Capital Limited (Joint
Broker)
Duncan Vasey
Lucy Williams +44 (0)20 7469 0932
Vigo Consulting (Financial Public
Relations)
Ben Simons
Charlie Neish
Kendall Hill +44 (0)20 7390 0234
Orrick, Herrington & Sutcliffe (UK) LLP is acting as legal
adviser to Cobra.
About Cobra:
Cobra is defining a unique multi-mineral resource at the Wudinna
Project in South Australia's Gawler Craton, a tier one mining and
exploration jurisdiction which hosts several world-class mines.
Cobra's Wudinna tenements, totalling 3,261 km(2) , contain
extensive orogenic gold mineralisation and are characterised by
potentially open-pitable, high-grade gold intersections, with ready
access to infrastructure. Cobra has 22 orogenic gold targets
outside of a current 211,000 Oz JORC Mineral Resource Estimate. In
2021, Cobra discovered rare earth mineralisation proximal to and
above gold mineralisation. The grades, style of mineralogy and
intersect widths are highly desirable while the mineralisation has
been demonstrated to be regionally scalable. The Company is also
advancing a pipeline of IOCG targets.
Follow us on social media:
LinkedIn: https://www.linkedin.com/company/cobraresourcesplc
Twitter: https://twitter.com/Cobra_Resources
Subscribe to our news alert service: https://cobraplc.com/news/
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