Warrant Exercise

RNS Number : 3486T
Blencowe Resources PLC
24 March 2021
 

Date: 24 March 2021   

Blencowe Resources Plc

("Blencowe" or the "Company")

 

Warrant Exercise

 

Blencowe Resources, the natural resources company focused on development of the Orom-Cross Graphite Project in Uganda, is pleased to announce that it has received warrant exercise notices in respect of 437,500 ordinary shares (the "Warrant Shares") from warrant holders. The aggregate proceeds from the exercise of the Warrant Shares are £26,250.

 

An application has been made for the 437,500 ordinary shares of 0.5p to be admitted to trading on the London Stock Exchange with effect from 8.00 a.m. on 30 March 2021 ("Admission").

 

In accordance with the FCA's Disclosure Guidance and Transparency Rules, the Company confirms that following the issue of the Warrant Shares, the Company's enlarged issued ordinary share capital will comprise 117,318,283 Ordinary Shares. The Company does not hold any Ordinary Shares in Treasury. Therefore, following Admission, the above figure may be used by shareholders in the Company as the denominator for the calculations to determine if they are required to notify their interest in, or a change to their interest in the Company, under the FCA's Disclosure Guidance and Transparency Rules.

 

 

For further information please contact:

 

Blencowe Resources Plc

 

Sam Quinn (London Director)  

 

 

www.blencoweresourcesplc.com

 

info@blencoweresourcesplc.com

+44 (0)1624 681 250

 

 

Investor Enquiries

Sasha Sethi

 

Tel: +44 (0) 7891 677 441

sasha@flowcomms.com  

 

 

Brandon Hill Capital Limited

Jonathan Evans

 

 

Tel: +44 (0)20 3463 5000 jonathan.evans@brandonhillcapital.com

First Equity Limited

Jason Robertson

Tel: +44 (0)20 7330 1883

jasonrobertson@firstequitylimited.com

 

 

 

 

 

Background

Orom-Cross is a potential world class graphite project both by size and end-product quality, with a high component of larger flakes identified from previous work performed. A 21-year Mining Licence was issued by the Ugandan Government in 2019 following extensive historical work on the deposit.

Orom-Cross presents as a large, shallow open pitable deposit, with an estimated resource in excess of 3 billion tonnes of graphite. Development of the resource is expected to benefit from a low strip ratio and free dig operations, thereby ensuring lower operating and capital costs.

 

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