REG - Oriole Resources PLC - Extension of Warrant Expiry Date

Oriole ResourcesAnnouncement

04/07/2025 07:00

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RNS Number : 6773P  Oriole Resources PLC  04 July 2025

The information contained within this announcement is deemed to constitute
inside information as stipulated under the retained EU law version of the
Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK
law by virtue of the European Union (Withdrawal) Act 2018. The information is
disclosed in accordance with the Company's obligations under Article 17 of the
UK MAR.  Upon the publication of this announcement, this inside information
is now considered to be in the public domain.

 

Oriole Resources PLC

('Oriole Resources' or the 'Company')

 

Extension of Warrant Expiry Date

Oriole Resources PLC (AIM: ORR), the AIM quoted gold exploration company
focused on West and Central Africa, announces the extension of the term to
expiry of 152,777,778 of the remaining  warrants over the same number of
ordinary shares in the Company (the 'Warrants'), such Warrants being issued to
participants in the June 2022 equity financing as announced on 29 June 2022.
 

The Warrants, exercisable at 0.25 pence per share, were due to expire on 13
July 2025. The Board has granted an extension of the life of the Warrants to
13 January 2026 at the same price of 0.25p per share and has sought and been
given approval for this extension, as required, by more than 75% of the
Warrant holders. No other conditions relating to the Warrants have been
amended.

Two of the Company's Directors, Eileen Carr and Robert Smeeton, respectively
hold 1,611,111 and 3,166,666 warrants that are potentially impacted by this
change in the Warrant terms. Both Directors recused themselves from voting on
the change in terms, and have agreed that their own warrant holdings shall
lapse on 13 July 2025.

 

The Warrants are also subject to an accelerator provision, such that if at any
time during the duration of the Warrants the 10 day volume weighted average
price of Oriole ordinary shares exceeds 0.60 pence per share, the Company may
give Warrant holders notice to exercise their Warrants within 10 business days
following the Company's notice and to pay the exercise price in full within 15
business days following the Company's notice, failing which the Warrants will
automatically expire.

 

 

Enquiries:

 Oriole Resources Plc                                  Tel: +44 (0)23 8065 1649
 Martin Rosser / Bob Smeeton / Claire Bay

 Strand Hanson Limited (Nomad & Broker)                Tel: +44 (0)20 7409 3494
 Christopher Raggett / James Spinney / Edward Foulkes

 IFC Advisory Ltd (Financial IR & PR)                  Tel: +44 (0)20 3934 6630
 Tim Metcalfe / Graham Herring / Florence Staton       oriole@investor-focus.co.uk (mailto:oriole@investor-focus.co.uk)

 

 

Notes to Editors

 

Oriole Resources PLC is an AIM-quoted gold exploration company, with projects
in West and Central Africa.  It is focused on early-stage exploration in
Cameroon, where the Company has reported a Resource of 460,000oz contained
gold at 2.06g/t Au in the JORC Indicated and Inferred categories at its 90%
owned Bibemi project and has identified multi-kilometre gold and lithium
anomalies within the district scale Central Licence Package project.  BCM
International is currently earning up to a 50% interest in the Bibemi and Mbe
projects in return for a combined investment of US$1.5 million in signature
payments, up to US$8 million in exploration expenditure, as well as JORC
resource-based success payments.

 

At the Senala gold project in Senegal, AGEM Senegal Exploration Suarl
('AGEM'), a wholly owned subsidiary of Managem Group, has completed a six-year
earn-in to acquire an approximate 59% beneficial interest in the Senala
Exploration Licence by spending US$5.8 million.  The Company has reported a
Resource of 155,000oz contained gold at 1.26g/t Au in the JORC Inferred
category for the Faré South prospect, and an additional, complimentary
Exploration target range of 17 to 24 million tonnes at a grade of 0.69 to
0.84g/t Au for 380,000oz to 650,000oz contained gold for all prospects at
Senala.  Discussions on the formation of a joint venture company are
currently underway.  The Company also has several interests and royalties in
companies operating in East Africa and Turkey that could give future cash
payments.

 

For further information please visit www.orioleresources.com
(http://www.orioleresources.com) ,  @OrioleResources on X

 

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