TIDMBRES

RNS Number : 7158U

Blencowe Resources PLC

07 April 2021

Date: 7 April 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 686,667 ordinary shares (the "Warrant Shares") from warrant holders. The aggregate proceeds from the exercise of the Warrant Shares are GBP37,866.69.

An application has been made for the 686,667 ordinary shares of 0.5p to be admitted to trading on the London Stock Exchange with effect from 8.00 a.m. on 14 April 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 118,004,950 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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April 07, 2021 09:30 ET (13:30 GMT)

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