TIDMORE

RNS Number : 4377U

Orogen Gold PLC

16 October 2014

OROGEN GOLD PLC

("Orogen" or the "Company")

Placing of GBP75,000 with Directors

Orogen (AIM: ORE), the AIM quoted gold exploration company, announces that it has conditionally placed 65,217,391 new ordinary shares (the "Placing Shares") of 0.1p each ("Ordinary Shares") with the Directors of the Company at a price of 0.115p per share, raising GBP75,000 before costs (the "Placing").

The net proceeds of the Placing, together with the GBP1,125,000 raised in the placing announced on 10 September 2014, provide additional working capital that will be used, inter alia, to advance the Company's exploration programme over its highly prospective Mutsk gold project in Armenia.

The Placing Shares will represent approximately 1.87% of the Company's enlarged share capital.

Issue of Placing Shares

The Placing is solely conditional upon admission of the Placing Shares to trading on AIM ("Admission"), which is expected to take place on 22 October 2014.

The Placing Shares will, when issued, rank pari passu in all respects with the existing Ordinary Shares.

Directors' Participation in the Placing

Adam Reynolds, Ed Slowey, Alan Mooney and Michael Nolan have each agreed to subscribe for 14,673,913 Placing Shares and Anthony Venus has agreed to subscribe for 6,521,739 Placing Shares. Directors' holdings following the Placing will be as follows:

 
Director        Shareholding following Placing   % of enlarged 
                                                 share capital 
 
Adam Reynolds                       62,040,580            1.78 
Ed Slowey                          140,896,071            4.04 
Alan Mooney                        104,610,907            3.00 
Michael Nolan                      104,610,907            3.00 
Anthony Venus                        6,521,739            0.19

Total Voting Rights

For the purposes of the Disclosure and Transparency Rules, the Company's total issued share capital following the completion of the Placing will comprise 3,483,783,783 Ordinary Shares with one voting right per share. There are no shares held in treasury.

The above 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 Disclosure and Transparency Rules.

Enquiries:

 
Orogen Gold Plc                         +353 1662 8395 
Ed Slowey, CEO 
Alan Mooney, FD 
WH Ireland Limited 
 (Nominated Adviser and Joint 
 Broker)                          +44 (0) 20 7220 1666 
Tim Feather 
James Bavister 
Hume Capital Securities Plc 
 (Joint Broker)                   +44 (0) 20 3693 1470 
Jon Belliss 
Walbrook 
 (Public Relations and Investor 
 Relations)                       +44 (0) 20 7933 8780 
Paul Cornelius / Guy McDougall

This information is provided by RNS

The company news service from the London Stock Exchange

END

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