Orogen Gold PLC Issue of Equity (2735F)
26 Juli 2016 - 1:38PM
UK Regulatory
TIDMORE
RNS Number : 2735F
Orogen Gold PLC
26 July 2016
26 July 2016
Orogen Gold Plc
("Orogen Gold", "Orogen" or "the Company")
GBP350,000 Equity Fundraising
Orogen Gold, the AIM quoted mineral exploration company focused
on gold exploration and development, announces that it has, through
its broker Beaufort Securities Limited, conditionally placed
2,333,333,333 new ordinary shares of 0.01p each ("Ordinary Shares")
(the "Placing Shares") with investors at a price of 0.015p per
share, raising GBP350,000 before expenses (the "Placing"). The net
proceeds of the Placing will provide additional working capital,
which will be used inter alia, to advance the Company's exploration
programmes.
The Placing Shares, which represent approximately 29.8% of the
Company's enlarged share capital, will rank pari pasu in all
respects with the existing ordinary shares. Application will be
made for the Placing Shares to be admitted to trading on AIM and
admission is expected to take place on or around 9 August 2016.
For the purpose of the Disclosure and Transparency Rules, the
Company's total issued share capital following the completion of
the Placing will comprise 7,841,026,670 Ordinary Shares with one
voting right per share. There are no shares held in treasury.
Shareholders may use the above figure as the denominator for the
calculation by which they will determine if they are required to
notify their interest in, the Company, under the Disclosure and
Transparency Rules.
Enquiries:
Orogen Gold plc C/o Walbrook PR
Colin Bird, CEO / Alan Mooney,
FD
------------------------------------- ---------------
Cairn Financial Advisers LLP
(Nominated Adviser) +44 (0) 20 7148
Liam Murray / Sandy Jamieson 7900
------------------------------------- ---------------
Beaufort Securities Limited (Broker) +44 (0) 20 7382
Jon Belliss 8300
------------------------------------- ---------------
Walbrook (Public Relations and
Investor Relations) +44 (0) 20 7933
Paul Cornelius / Gary Middleton 8780
------------------------------------- ---------------
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 and is currently operating a
gold exploration project at Mutsk in Armenia. The Mutsk project was
optioned by Orogen early in 2013 to follow-up reports of a new
epithermal discovery within an established gold district.
Exploration by Orogen has confirmed and extended the gold discovery
through diamond drilling and the deposit remains open in several
directions. In Nevada, an Earn-In Agreement was recently signed
covering the Silverton gold-silver prospect, giving Orogen the
right to earn in to an initial 51% interest in the property.
Anomalous gold values are recorded from bedrock across much of the
property, but previous drilling is not considered to have
adequately tested the potential gold sources.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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