NOT
FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO ANY
PERSON LOCATED OR RESIDENT IN, ANY JURISDICTION WHERE IT IS
UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS
ANNOUNCEMENT.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014
WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION
(WITHDRAWAL) ACT 2018 ("UK MAR"). IN ADDITION, MARKET SOUNDINGS
WERE TAKEN IN RESPECT OF THE MATTERS CONTAINED IN THIS
ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN PERSONS BECAME AWARE OF
SUCH INSIDE INFORMATION. UPON THE PUBLICATION OF THIS ANNOUNCEMENT,
THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC
DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION
OF INSIDE INFORMATION.
6 December
2024
Rockfire Resources
plc
("Rockfire" or the
"Company" or the
"Group")
Placing to raise
£660,000
and
Proposed
Retail Offer
Rockfire Resources plc (LON: ROCK),
the base metal, precious metal, and critical mineral exploration
company, announces that it has conditionally raised £660,000
(before expenses) by way of a placing (the "Placing") of a total
of 550,000,000 new ordinary shares of 0.1 pence each in
the Company ("Ordinary
Shares") at a price of 0.12 pence per new Ordinary
Share (the "Issue
Price").
The Directors intend for the net
proceeds of the Placing to be used, in conjunction with Rockfire's
existing available cash, to continue development of the Company's
Molaoi zinc/silver/lead/germanium project in Greece. Rockfire is in
a unique position with large resources of zinc and associated
germanium, both of which are considered critical raw materials.
Proceeds will also be used to fund on-going working capital
requirements within the Company.
In addition to the Placing, it is
proposed that there will be a separate conditional retail offer to
existing shareholders to raise up to £120,000 (before expenses) at
the Issue Price (the "Retail
Offer", together with the Placing, the "Fundraise"), to provide existing retail
shareholders in the Company an opportunity to participate in the
Fundraise. A separate announcement will be made shortly by the
Company regarding the Retail Offer and its terms.
Those investors who subscribe for
new Ordinary Shares pursuant to the Retail Offer (the "Retail Offer Shares") will do so
pursuant to the terms and conditions of the Retail Offer contained
in that announcement.
CMC Markets UK Plc trading as CMC
CapX, acted as the Company's sole placing agent in respect of the
Placing.
Details of the Placing
The Fundraise comprises
the Placing of 550,000,000 new Ordinary Shares
(the "Placing Shares")
and up to 100,000,000 Retail Offer Shares (together the
"Fundraise Shares") at the
Issue Price. The Fundraise Shares are to be issued pursuant to
the authorities granted to the Board at the Company's annual
general meeting held on 28 June 2024 on a non-pre-emptive
basis.
Completion of the Retail Offer is
conditional, inter
alia, upon completion of the Placing. Completion of the
Placing is not conditional on the completion of the Retail
Offer.
The Issue Price represents a
discount of approximately 33.3 per cent. to the closing mid-market
price of 0.18 pence of an Ordinary Share on 5 December 2024, being
the latest practicable date prior to the publication of this
announcement.
It is anticipated that an
application will be made to London Stock Exchange plc
("London Stock Exchange")
for the Placing Shares and the Retail Offer Shares (once the
final number of Retail Offer Shares to be issued is determined) to
be admitted to trading on the AIM market of the London Stock
Exchange ("Admission"). It
is currently anticipated that Admission will become effective, and
that dealings in the Placing Shares and Retail Offer Shares will
commence on AIM, at 8.00 a.m. on or around 16 December
2024.
For further information on the
Company, please visit www.rockfireresources.com or
contact the following:
|
Rockfire Resources plc:
|
info@rockfire.co.uk
|
|
David Price, Chief Executive
Officer
|
|
|
|
|
|
Allenby Capital Limited (Nominated Adviser & Broker):
|
Tel: +44 (0) 20 3328 5656
|
|
John Depasquale / George Payne
(Corporate Finance)
|
|
|
Guy McDougall / Kelly Gardiner
(Sales and Corporate Broking)
|
|
Notes to Editors
Rockfire Resources plc (LON: ROCK)
is a gold, base metal and critical mineral exploration company,
with a high-grade zinc/lead/silver/germanium deposit in Greece and
a portfolio of gold/copper/silver projects in Queensland
Australia.
The Molaoi deposit in Greece has a JORC
Inferred Mineral Resource of 15 million tonnes @ 7.26 % Zn, 1.75 %
Pb and 39.5 g/t Ag, for 1.09 million tonnes of zinc, 260,000 tonnes
of lead and 19.1 million ounces of silver.
The Plateau deposit in Queensland has a
JORC Inferred resource of 131,300 ounces of gold and 800,000 ounces
of silver. Plateau is subject to a joint venture with ASX-listed
Sunshine Metals Ltd (ASX:SHN).
The Copperhead porphyry deposit in
Queensland has a JORC resource of 80,000 tonnes of copper, 9,400
tonnes of molybdenum and 1.1 million ounces of silver.