Origo Partners PLC Announcement re Kincora Copper Limited (5662N)
August 09 2017 - 9:06AM
UK Regulatory
TIDMOPP TIDMOPPP
RNS Number : 5662N
Origo Partners PLC
09 August 2017
9 August 2017
Origo Partners plc
("Origo" or the "Company")
Announcement re Kincora Copper Limited
Origo notes the announcement made by its portfolio company
Kincora Copper Limited ("Kincora") detailing a C$4.52m equity raise
from sophisticated investors with a preeminent private equity
exploration specialist fund as the cornerstone.
The proceeds of the equity raise will fund a planned
reconnaissance exploration program in the world-class Southern Gobi
copper gold porphyry belt.
The fundraising was carried out via a private placement of
13,711,174 Units at a price of C$0.33 per Unit. Each Unit is
comprised of one common share (the "Shares") and one-half of a
share purchase warrant, with each whole warrant (the "Warrants")
entitling the holder to acquire a further Share at C$0.445 for a
period of two years. The private placement is subject to final
TSX-V approval. Following successful completion of the placement
Origo's shareholding in Kincora will be 25%.
The full text of the announcement is below.
For further information about Origo please visit
www.origoplc.com or contact:
Origo Partners plc
Niklas Ponnert niklas@origoplc.com
Nominated Adviser and Broker
Smith & Williamson Corporate Finance Limited
Azhic Basirov
Ben Jeynes +44 (0)20 7131 4000
Public Relations
Aura Financial
Andy Mills +44 (0)20 7321 0000
"Kincora closes $4.52m in new equity raise
for Tier 1 copper porphyry targets
* Raises $4.52m from sophisticated investors including
a preeminent private equity exploration specialist
fund as the cornerstone
* Proceeds will fund the first modern Tier 1 drill
testing and district scale reconnaissance exploration
program in the world-class Southern Gobi copper gold
porphyry belt
* The equity placement enables Kincora to explore
identified Tier 1 targets across its enlarged
portfolio, including at least 16,000m of drilling at
two priority targets
* Kincora is uniquely positioned to consolidate the
remaining prospective areas of the belt through
targeted applications and acquisitions
Vancouver, BC - August 8th, 2017
Kincora Copper Ltd. (the "Company", "Kincora") (TSXV:KCC) is pleased to announce that it has
closed the previously announced non-brokered private placement for gross proceeds of $4,524,687
through the issuance of 13,711,174 Units at a price of C$0.33 per Unit. Each Unit is comprised
of one common share (the "Shares") and one-half of a share purchase warrant with each whole
warrant (the "Warrants") entitling the holder to acquire a further Share at C$0.445 for a
period of two years. The private placement is subject to final TSX-V approval.
Proceeds from the offering will accelerate Kincora's exploration and expansion strategy. In
2016, Kincora surpassed Rio Tinto, and related entities, to become the dominant landholder
along the Devonian copper-gold belt (100% ownership of 1437 km2). Kincora will shortly initiate
an extensive two-phase drill program at the East Tsagaan Suvarga and Bayan Tal targets for
up to 16,000 metres (up to 8,000 metres at both targets), while advancing its district scale
multi-target, multi-stage pipeline up the value curve.
All Units issued are subject to a four-month hold period expiring four months and one day
from the date of issuance.
Sam Spring, President & CEO, commented: "We are encouraged by the support received from new
and existing investors despite a challenging market for junior explorers, with many new groups
having undertaken detailed due diligence providing validation of our exciting dual exploration
and expansion strategy.
This is testament to the quality of Kincora's targets and the strategic value of our dominant
position in this highly mineralized but vastly underexplored Devonian belt, which we are shortly
looking to drill test for the first time by any explorer since 2012. This new equity will
significantly strengthen Kincora's ability to test a number of Tier 1 copper porphyry targets
while enabling the Company to further enhance its holdings on the belt.
The copper price remains favourable, with prices increasing 50% since we secured the IBEX
transaction, and with multiple value add work streams now funded we plan to shortly increase
awareness for what is effectively a new copper junior to the wider public markets."
Further details are provided in an updated presentation on the Kincora website:
http://kincoracopper.com/investors/corporate-presentation
The Company paid finder's fees of $120,613 and issued 365,493 broker warrants in connection
with the offering. Each broker warrant entitles the holder to acquire a further Share at C$0.445
for a period of one year.
Post the aforementioned offering Kincora has 64,445,068 issued shares with a total of 10,168,579
warrants outstanding.
About Kincora
Kincora is a junior resource company engaged in the acquisition, exploration and development
of mineral properties, with a focus on copper-gold projects in Mongolia. For further information:
www.kincoracopper.com.
For further information, please contact:
Sam Spring, President and Chief Executive Officer sam.spring@kincoracopper.com
or +61431 329 345
Qualified Person
The scientific and technical information in this news release was prepared in accordance with
the standards of the Canadian Institute of Mining, Metallurgy and Petroleum and National Instrument
43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and was reviewed, verified
and compiled by Kincora's geological staff under the supervision of Peter Leaman, Senior VicePresident
of Exploration of Kincora Copper, who is the Qualified Person
for the purpose of NI 43-101.
Forward-Looking Statements
Certain information regarding Kincora contained herein may constitute forward-looking statements
within the meaning of applicable securities laws. Forward-looking statements may include estimates,
plans, expectations, opinions, forecasts, projections, guidance or other statements that are
not statements of fact. Although Kincora believes that the expectations reflected in such
forward-looking statements are reasonable, it can give no assurance that such expectations
will prove to have been correct. Kincora cautions that actual performance will be affected
by a number of factors, most of which are beyond its control, and that future events and results
may vary substantially from what Kincora currently foresees. Factors that could cause actual
results to differ materially from those in forward-looking statements include market prices,
exploitation and exploration results, continued availability of capital and financing and
general economic, market or business conditions. The forward-looking statements are expressly
qualified in their entirety by this cautionary statement. The information contained herein
is stated as of the current date and is subject to change after that date. Kincora does not
assume the obligation to revise or update these forward-looking statements, except as may
be required under applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release."
This information is provided by RNS
The company news service from the London Stock Exchange
END
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