Ortac Resources Limited UPDATE ON THE OFFER FOR CASA MINING LIMITED (4182B)
10 January 2018 - 6:00PM
UK Regulatory
TIDMOTC
RNS Number : 4182B
Ortac Resources Limited
10 January 2018
Ortac Resources Ltd / Epic: OTC / Market: AIM / Sector: Mining
& Exploration
10 January 2018
ORTAC RESOURCES LTD
("ORTAC" or the "COMPANY")
UPDATE ON THE OFFER FOR CASA MINING LIMITED
Ortac Resources Ltd is pleased to announce that in relation to
the offer for the balance of the issued share capital of Casa
Mining Ltd ("Casa") (the "Offer"), it has increased its interest in
Casa from 84.7% to 87.4% since the previous RNS announcement made
on 13 December 2017.
If the Offer is accepted by all shareholders of Casa, then a
total of 100,000,000 new ordinary shares of no par value of the
Company ("New Ordinary Shares") will be issued to Casa shareholders
pursuant to the Offer and acquisition of Casa.
On 10 November 2017, Ortac made an application for a block
admission of 100,000,000 New Ordinary Shares to trading on the AIM
market of the London Stock Exchange plc and these shares were
admitted to trading on AIM on 15 November 2017 ("Block
Admission").
To date, Ortac has issued 77,597,646 New Ordinary Shares
pursuant to the acquisition of Casa and the Offer, so up to
22,402,354 New Ordinary Shares potentially remain to be issued
under the Block Admission.
The Offer remains open until 10 May 2018 and acceptances
continue to be received daily.
Following the issue of the New Ordinary Shares, the total issued
share capital of the Company consists of 311,399,300 ordinary
shares of no par value with voting rights ("Ordinary Shares"). The
Company does not hold any Ordinary Shares in treasury. Therefore,
the total number of voting rights in the Company is 311,399,300 and
this figure may be used by shareholders in the Company as the
denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change in their
interest in, the share capital of the Company under the FCA's
Disclosure and Transparency Rules.
**ENDS**
Contacts
Ortac Resources Ltd +44 (0) 20
Nick von Schirnding (Chairman) 3874 8664
SP Angel (Nominated Adviser
& Broker)
Ewan Leggat / Lindsay Mair / +44 (0) 20
Soltan Tagiev 3470 0470
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
Forward-looking Statements
This news release contains forward-looking statements that are
based on the Company"s current expectations and estimates.
Forward-looking statements are frequently characterised by words
such as "plan", "expect", "project", "intend", "believe",
"anticipate", "estimate", "suggest", "indicate" and other similar
words or statements that certain events or conditions "may" or
"will" occur. Such forward-looking statements involve known and
unknown risks, uncertainties and other factors that could cause
actual events or results to differ materially from estimated or
anticipated events or results implied or expressed in such
forward-looking statements. Such factors include, among others: the
actual results of current exploration activities; conclusions of
economic evaluations; changes in project parameters as plans
continue to be refined; possible variations in ore grade or
recovery rates; accidents, labour disputes and other risks of the
mining industry; delays in obtaining governmental approvals or
financing; and fluctuations in metal prices. There may be other
factors that cause actions, events or results not to be as
anticipated, estimated or intended. Any forward-looking statement
speaks only as of the date on which it is made and, except as may
be required by applicable securities laws, the Company disclaims
any intent or obligation to update any forward-looking statement,
whether as a result of new information, future events or results or
otherwise. Forward-looking statements are not guarantees of future
performance and accordingly undue reliance should not be put on
such statements due to the inherent uncertainty therein.
About Ortac
Ortac Resources Limited is an AIM listed exploration and mine
development company focused on a diversified portfolio of mining
projects with interests in Slovakia, Eritrea, the Democratic
Republic of the Congo and Zambia.
Ortac's current holdings include:
--A recently announced, and in the process of completion, offer
to acquire all the outstanding shares in CASA Mining Limited;
--A 14 percent equity interest in Zamsort Limited, a private
company focused on a prospective copper and cobalt licence in
Zambia, with the c. 6 percent balance and interest (convertible
note) being rolled forward to the end of 2018;
--100 percent ownership of the Kremnica Mining Licence Area in
Slovakia;
--An 18.48 percent interest in Andiamo Exploration Limited, a
private company exploring for resources in Eritrea.
For more information visit www.ortacresources.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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