REG - Cobra Resources PLC - Additional Equity Issue

Cobra ResourcesAnnouncement

27/10/2022 07:00

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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 £1,300,000, 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 £34,500.
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/ (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)              +44 (0)1483 413 500

 Nick Emerson

 Sam Lomanto

 Shard Capital Limited (Joint Broker)           +44 (0)20 7186 9952

 Erik Woolgar

 Damon Heath

 Peterhouse Capital Limited (Joint Broker)      +44 (0)20 7469 0932

 Duncan Vasey

 Lucy Williams

 Vigo Consulting (Financial Public Relations)   +44 (0)20 7390 0234

 Ben Simons

 Charlie Neish

 Kendall Hill

 

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
(https://www.linkedin.com/company/cobraresourcesplc)

Twitter: https://twitter.com/Cobra_Resources
(https://twitter.com/Cobra_Resources)

 

Subscribe to our news alert service: https://cobraplc.com/news/
(https://cobraplc.com/news/)

 

 

 

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