Blencowe Resources PLC Issue of Equity (1444F)
July 14 2021 - 1:00AM
UK Regulatory
TIDMBRES
RNS Number : 1444F
Blencowe Resources PLC
14 July 2021
Date: 14 July 2021
Blencowe Resources Plc
("Blencowe" or the "Company")
Placing to Raise GBP235,000
Blencowe Resources, the natural resources company focussed on
the development of the Orom-Cross Graphite Project in Uganda, is
pleased to announce that it has raised GBP235,000 in a placing at 6
pence per share through the issue of 3,925,000 new ordinary shares
("Placing"). Also, the placees will receive one warrant per every
two placing share to Each Placing shares will to subscribe for
shares at 8 pence per share for a period of three years
("Warrant").
The fundraise will be used to advance the development of the
Orom-Cross Project and the Pre-Feasibility Study which is due to
commence following confirmation of the updated JORC Resource in
late Q3 2021.
The Company has made an application for 3,925,000 ordinary
shares to be admitted to trading on the official list and the
London Stock Exchange with effect from 8.00 a.m. on 20 July 2021
("Admission").
In accordance with the FCA's Disclosure Guidance and
Transparency Rules, the Company confirms that following Admission,
the Company's enlarged issued ordinary share capital will comprise
121,929,950 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.
Cameron Pearce Executive Chairman commented:
"Following the announcement of our recent Metallurgical Test
Work we are keen to keep progressing the Orom-Cross Graphite
project at a rapid pace and have taken this opportunity to raise
some additional capital to fund ongoing operations. We look forward
to updating the market on further developments over the coming
weeks and months."
For further information please contact:
Blencowe Resources Plc
Sam Quinn
www.blencoweresourcesplc.com
Tel: +44 (0)1624 681 250
info@blencoweresourcesplc.com
Investor Enquiries
Sasha Sethi Tel: +44 (0) 7891 677 441
Email: sasha@flowcomms.com
Brandon Hill Capital Limited Tel: +44 (0)20 3463 5000
Jonathan Evans jonathan.evans@brandonhillcapital.com
First Equity Limited Tel: +44 (0)20 7330 1883
Jason Robertson 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.
.
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END
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