Blencowe Resources PLC Warrant Exercise (3534O)
February 08 2021 - 8:12AM
UK Regulatory
TIDMBRES
RNS Number : 3534O
Blencowe Resources PLC
08 February 2021
8 February 2021
Blencowe Resources Plc
("Blencowe" or the "Company")
Warrant Exercise
Blencowe Resources, the natural resources company focused on
development of the Orom-Cross Graphite Project in Uganda, is
pleased to announce that it has received warrant exercise notices
in respect of 666,667 ordinary shares (the "Warrant Shares") from
warrant holders. The aggregate proceeds from the exercise of the
Warrant Shares are GBP26,667.
An application has been made for the 666,667 ordinary shares of
0.5p to be admitted to trading on the London Stock Exchange with
effect from 8.00 a.m. on 12 February 2021 ("Admission").
In accordance with the FCA's Disclosure Guidance and
Transparency Rules, the Company confirms that following the issue
of the Warrant Shares, the Company's enlarged issued ordinary share
capital will comprise 116,880,783 Ordinary Shares. The Company does
not hold any Ordinary Shares in Treasury. Therefore, following
Admission, the above figure may be used by shareholders in the
Company as the denominator for the calculations to 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.
For further information please contact:
Blencowe Resources Plc www.blencoweresourcesplc.com
Sam Quinn (London Director) info@blencoweresourcesplc.com
+44 (0)1624 681 250
Investor Enquiries Tel: +44 (0) 7891 677
Sasha Sethi 441
sasha@flowcomms.com
Brandon Hill Capital Limited Tel: +44 (0)20 3463
Jonathan Evans 5000 jonathan.evans@brandonhillcapital.com
First Equity Limited Tel: +44 (0)20 7330
Jason Robertson 1883
jasonrobertson@firstequitylimited.com
Background
Orom-Cross is a potential world class graphite project both by
size and end-product quality, with a high component of larger
flakes identified from previous work performed. A 21-year Mining
Licence was issued by the Ugandan Government in 2019 following
extensive historical work on the deposit.
Orom-Cross presents as a large, shallow open pitable deposit,
with an estimated resource in excess of 3 billion tonnes of
graphite. Development of the resource is expected to benefit from a
low strip ratio and free dig operations, thereby ensuring lower
operating and capital costs.
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END
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