REG - Red Rock Resources - Second Tranche of CLNs and Warrants

Red Rock ResourcesAnnouncement

19/08/2022 10:45

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220819:nRSS6300Wa&default-theme=true

RNS Number : 6300W  Red Rock Resources plc  19 August 2022

Red Rock Resources PLC

("Red Rock" or the "Company")

Second Tranche of CLNs and Warrants

 

19 August 2022

Red Rock Resources Plc, the natural resource development company with
interests gold and base metals, principally in Africa and Australia, announces
that it has issued £50,000 of Tranche 2 Convertible Notes ("Notes") with
accompanying Warrants ("Warrants") to high net worth investors, on the same
terms as the first tranche.

Further Information

£50,000 of subscription for the Notes was subscribed by a single investor.
The funds will be utilised for general working capital purposes.

The Notes are being issued at par and are convertible into Ordinary Shares of
£0.0001 in Red Rock ("Shares") at a price of 0.6 pence per Share. Each Note
has a denomination of £1,000 and is thus convertible into 166,666 new Shares
in the Company. Conversion may take place at any time within 12 months of
issue date.

Each Note holder also receives 83,333 Warrants for each Note subscribed. Each
Warrant entitles the holder to subscribe for Shares at any time up to thirty
months from the date of issue at a price of 0.8 pence per Share.

The interest rate on the Notes is 12% per annum, payable on maturity.

The maximum number of new Shares that could fall to be issued upon exercise of
these Notes is 8,333,333 and the maximum number of new Shares that could fall
to be issued upon exercise of the accompanying Warrants including broker
warrants (for an additional consideration to the Company of £35,333) is
4,416,666.

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.

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

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCFIFVATAIALIF