REG - Red Rock Resources - Issue of Equity and Update

Red Rock ResourcesAnnouncement

11/12/2023 17:00

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RNS Number : 3914W  Red Rock Resources plc  11 December 2023

Red Rock Resources PLC

("Red Rock" or the "Company")

Issue of Shares and Update

Total Voting Rights

 

11 December 2023

 

Red Rock Resources Plc, the natural resource exploration and development
company with interests in gold, copper, cobalt, lithium and other minerals,
announces that it has placed 100,000,000 ordinary shares pursuant to a
£110,000 subscription by a high net worth investor at £0.0011 per share
("Subscription").

 

The investor has provided personnel on an assignment to work with the Company
on bringing lithium assets in Zimbabwe and gold assets in Burkina Faso into
production and establishing an export pipeline for lithium. The Company has
paid for a number of costs in advance and where there was urgency to meet
additional costs these have been funded by the investor on the Company's
behalf. Settlement of these agreed costs, amounting to £58,204.62,
constitutes part of the Subscription. Cash proceeds of the Subscription are
for working capital purposes as the Company continues to develop its projects
in Africa..

 

Highlights

 

·    £110,000 net raised by the issue of new shares to a single high net
worth investor

 

·    All costs for the export of the first 200 tons of lithium to
destination port are fully paid

 

·    A geological team led by Dr Willem Smuts and including our local
personnel has started to assemble in Burkina Faso to begin work on the first
targets including alluvial/colluvial areas

 

·    Progress continues in Kinshasa in relation to the arbitration award
announcement

 

Red Rock CEO Andrew Bell comments: "This has been an extremely busy, but also
a productive, period for the Company. We will continue pushing forward through
the Christmas and New Year periods, as we pass, or approach, critical
milestones. Further announcements will be made when appropriate."

 

 

Admission to Trading on AIM and Total Voting Rights

 

Application is being made for 100,000,000 Shares to be admitted to trading on
AIM, the admission of which it is expected on or around 18 December 2023.

 

In accordance with the provision of the Disclosure Guidance and Transparency
Rules of the Financial Conduct Authority, the Company confirms that, following
the issue of the Shares, its issued ordinary share capital will comprise
2,670,097,791ordinary shares.

 

All of the ordinary shares have equal voting rights and none of the ordinary
shares are held in Treasury. The total number of voting rights in the Company
will therefore be 2,670,097,791. The above figure may be used by shareholders
as the denominator for the calculations to determine if they are required to
notify their interests in, or change to their interest in, the Company.

 

For further information, please contact:

Andrew Bell 0207 747
9990
Chairman Red Rock Resources Plc

Roland Cornish/ Rosalind Hill Abrahams 0207 628 3396           NOMAD
Beaumont Cornish Limited

Jason Robertson 0207 374
2212
  Broker First Equity Limited

Bob Roberts 0203
8696081
Joint Broker Clear Capital Corporate Broking

 

This announcement contains inside information for the purposes of Article 7 of
Regulation 2014/596/EU, which is part of domestic UK law pursuant to the
Market Abuse (Amendment) (EU Exit) regulations (SI 2019/310) and is disclosed
in accordance with the Company's obligations under Article 17.

 

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