NR Private Market Offer Full and Now Closed

RNS Number : 4124B

Oriole Resources PLC

07 October 2020

 

Oriole Resources PLC

('Oriole' or 'the Company')

NR Private Market Offer Full and Now Closed

Oriole Resources PLC (AIM: ORR), the AIM-quoted exploration company focussed on West Africa, is pleased to announce that the offer (the 'Offer') that opened earlier today via www.NRPrivateMarket.com , the investment platform owned and operated by MINEXIA Limited, is now closed to further applications following an oversubscription. Allocations were made on a first come first served basis and applications for the total of approximately £0.293 million, equating to 86,117,647 new ordinary shares of 0.1 pence each in the Company ('Offer Shares') have been received by NR Private Market .

This Offer is in addition to the £1.576 million, before expenses, placing and subscription (the 'Placing') announced by the Company earlier today. Consequently, aggregate proceeds of appropriately £1.869 million from the Placing and Offer are expected to be received by the Company following the General Meeting.

Completion of both the Offer and Placing is subject to shareholder approval at a General Meeting, the details of which were announced earlier today. Subject to said approval, the Offer Shares and Placing Shares will be issued free of all liens, charges and encumbrances and will, when issued and fully paid, rank pari passu in all respects with the Company's existing Ordinary Shares.

- Ends -

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Following the publication of this announcement, this inside information is now considered to be in the public domain.

For further information please visit  www.orioleresources.com ,   @OrioleResources on Twitter,   or contact:

Oriole Resources PLC Tim Livesey / Bob Smeeton / Claire Bay	Tel: [phone]
Blytheweigh (IR/PR contact) Tim Blythe / Megan Ray / Rachael Brooks	Tel: [phone]
Grant Thornton UK LLP Samantha Harrison / Niall McDonald	Tel: [phone]
Shard Capital Partners Damon Heath / Erik Woolgar / Isabella Pierre	Tel: [phone]
Minexia Limited Rich Lloyd / Drew Craig	Email: [e-mail] and [e-mail]

Notes to Editors:

Oriole Resources PLC is an AIM-listed exploration company, focussed on West Africa. It is focused on early-stage exploration in Cameroon (Bibemi and Wapouzé projects) and the more advanced Senala gold project in Senegal, where IAMGOLD has the option to spend US$8m to earn a 70% interest. Year 2 commitments have been met at all three projects. The Company has several interests and royalties in companies operating throughout Africa and Turkey that could deliver future cash flow, and it continues to assess new opportunities in both regions. 

 

END

 

 

MSCFSLFDWESSESS