TIDMCOBR

RNS Number : 0425X

Cobra Resources PLC

29 April 2021

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.

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.

29 April 2021

Cobra Resources plc

("Cobra" or the "Company")

Issue of Equity

Cobra, the gold explorer focused on the Wudinna Gold Project in South Australia, announces that it will issue 5,664,340 ordinary shares at a price of 1p per share to the vendors of The Lady Alice Mines Unit Trust and Lady Alice Mines Pty Ltd, in accordance with the acquisition agreement through which the Company acquired, inter alia, its entitlement to earn into the Wudinna Gold Project.

Additionally, the Company announces that it will issue 1,445,713 ordinary shares to Musca Investments Pty Ltd (an owner of Hagstrom Drilling, a contractor to the Company) at a price of 2.3p per share, to satisfy a contractual agreement in respect of the provision of services.

An application has been made to the FCA and the London Stock Exchange for the 7,110,053 new ordinary shares (the "New Shares") of 1p each to trade on the London Stock Exchange and to be admitted to the Official List.

When issued, the New Shares will be credited as fully paid and will rank pari passu in all respects with the existing ordinary shares in the share capital of the Company, including the right to receive all dividends and other distributions declared, made or paid on or in respect of such shares after the date of issue of the New Shares.

Admission of the 7,110,053 New Shares is expected to take place at 8.00 am on 4 May 2021.

Total Voting Rights

In conformity with DTR 5.6.1, the Company notifies that, as at the date of this announcement, it has a single class of shares in issue being ordinary shares and that, following the issue of the 7,110,053 New Shares described above, the total number of ordinary shares in issue will be 334,523,500. There are no ordinary shares held in treasury. Each ordinary share entitles the holder to a single vote at general meetings of the Company.

The figure of 334,523,500 ordinary shares may be used by shareholders (and others with notification obligations) as the denominator for the calculations by which they will determine whether they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

End

Enquiries:

 
 Cobra Resources plc 
  Craig Moulton (Australia) 
  Dan Maling (UK)                     +44 (0)20 7390 0234 
 SI Capital Ltd (Joint Broker) 
  Nick Emerson 
  Sam Lomanto                         +44 (0)1483 413 500 
 Peterhouse Capital Ltd (Joint 
  Broker) 
  Duncan Vasey 
  Lucy Williams                       +44 (0)20 7469 0932 
 Vigo Consulting (Financial Public 
  Relations) 
  Ben Simons 
  Simon Woods                         +44 (0)20 7390 0234

About Cobra

Cobra's Wudinna Gold Project is located in the Gawler Craton which is home to some of the largest IOCG discoveries in Australia including Olympic Dam, as well as Prominent Hill and Carrapateena. Cobra's Wudinna tenements contain extensive orogenic gold mineralisation and are characterised by potentially open-pitable, high-grade gold intersections, with ready access to nearby infrastructure. In total Cobra has over 22 orogenic gold prospects, with grades of between 16g/t up to 37.4g/t outside of the current 211,000 ounce JORC resource, as well as 1 copper-gold prospect, and 4 IOCG targets.

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April 29, 2021 02:00 ET (06:00 GMT)

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