Cobra Resources PLC Issue of Equity (1377F)
March 05 2020 - 4:02AM
UK Regulatory
TIDMCOBR
RNS Number : 1377F
Cobra Resources PLC
05 March 2020
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF EU REGULATION 596/2014. UPON THE PUBLICATION OF
THIS ANNOUNCEMENT VIA A REGULATORY NEWS SERVICE, THIS INSIDE
INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY IN OR INTO THE UNITED STATES,
AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER
JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE
RELEVANT LAWS OF SUCH JURISDICTION.
For immediate release
05 March 2020
Cobra Resources plc
("Cobra" or the "Company")
Market Update - Exercise of Warrants and Issue of Shares
Cobra is an exploration and mining company today announces the
exercise of warrants and the following issue of shares:
-- The Company has received notice of exercise of 333,334
warrants at an exercise price of 2p per share.
-- The Company intends to issue 654,600 ordinary shares to Ken Watson a previous director.
-- The Company intends to issue a total of 757,073 shares to the
previous directors of Lady Alice Mines Pty Ltd pursuant to the
acquisition agreement.
Warrants
-- The Company has received notice from Jim Nominees Pty Ltd of
the exercise of 333,334 warrants at 2p. These ordinary shares will
be issued in accordance with the terms of the warrant
instrument.
Share Issue
-- 654,600 ordinary shares in the Company are to be issued to
Ken Watson, a previous Director of the Company, pursuant to a
settlement agreement announced by the Company on the 8 April
2019.
-- The Company also intends to issue a total of 757,073 shares
to the previous directors of Lady Alice Mines Pty Ltd. This
adjustment is required for compliance with the terms of the
acquisition agreement announced on the 7 March 2019.
About the Company:
The Company is the owner of the Wudinna Gold Project. The
Wudinna Gold Project is located on the Eyre Peninsula in the
Central Gawler Gold Province, a 450-kilometre-long arcuate belt in
South Australia which contains numerous mineral occurrences.
Craig Moulton, Managing Director of Cobra commented:
"The early exercise of warrants by long standing shareholders
shows the conviction of our investors for the Wudinna Gold project
and mirrors the Board's excitement for the future of this
project."
The person who arranged for the release of this announcement on
behalf of the Company was Craig Moulton, Director of the
Company.
End
Enquiries:
+61 (0) 40 6932187
Cobra Resources plc Craig Moulton +61 (0) 8 9316 4938
Nick Emerson
SI Capital Limited (Broker) Sam Lomanto +44 (0) 14 8341 3500
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Duncan Vasey
Peterhouse Capital Limited Lucy Williams +44 (0) 20 7469 0932
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END
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