REG - Corpus Resources PLC - Placing

Corpus ResourcesAnnouncement

23/06/2025 09:00

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RNS Number : 9481N  Corpus Resources PLC  23 June 2025

23 June 2025

Corpus Resources Plc

("Corpus" or the "Company")

Placing

Corpus Resources Plc (LSE: COR), announces that on behalf of the Company, its
Corporate Broker, Peterhouse Capital Limited,  has raised £200,000 before
expenses, through a placing of 1,333,333,333 new ordinary shares of 0.01p each
("Ordinary Shares") in the Company ("Placing Shares") at a price of 0.015
pence per new Ordinary Share (the "Issue Price") (the "Placing"). The Placing
Shares each have an attaching grant of warrants ("Warrants") on a one-for-one
basis, exercisable subject to the publication of a prospectus, at a price of
0.05 pence per ordinary share, with the Warrants expiring on the third
anniversary of the admission to trading date of the Placing Shares. An
application will be made to the London Stock Exchange for the 1,333,333,333
Placing Shares to be admitted to the Official List and to trading on the Main
Market of the London Stock Exchange ("Admission"). It is expected that
Admission and settlement of the Placing Shares will become effective on or
around 30 June 2025.

The Placing Shares will represent approximately 41.3 per cent. of the
Company's enlarged issued share capital following the Placing. The Issue
Price represents a discount of approximately 45 per cent. to the current
mid-market price of 0.0275 pence per Ordinary Share.

The net proceeds of the Placing will be used for working capital and to
progress reverse takeover efforts.  Further announcements will be made by the
Company in due course as appropriate.

Following Admission of the Placing Shares, the Company's issued ordinary share
capital will comprise 3,226,306,795 ordinary shares. Therefore, following
Admission the total number of ordinary shares with voting rights in the
Company will be 3,226,306,795 which 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 Financial Conduct Authority's Disclosure Guidance and
Transparency Rules.

The Company is currently unable to admit the entirety of the Placing Shares
without either the publication of a prospectus or relying upon an exemption to
the requirement to issue a prospectus. Consequently, the Placing involves a
subscription by Richard Glass, a director of Corpus, for 1,333,333,333
Ordinary Shares in the Company, at the Placing Price being 0.015 pence per
Ordinary Share. Following Admission, Mr Glass has agreed to immediately sell
these 1,333,333,333 Ordinary Shares, at the Placing Price, to certain
investors introduced by Peterhouse.

For further information please contact:

 Corpus Resources Plc
 Paul Forrest/Richard Glass                     info@corpusresources.com
                                                www.corpusresources.com

 Peterhouse Capital Limited (Corporate Broker)  020 7469 0936

 

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