Company Announcements

Second Tranche of CLNs and Warrants

Source: RNS
RNS Number : 6300W
Red Rock Resources plc
19 August 2022

Red Rock Resources PLC

("Red Rock" or the "Company")

Second Tranche of CLNs and Warrants


19 August 2022

Red Rock Resources Plc, the natural resource development company with interests gold and base metals, principally in Africa and Australia, announces that it has issued £50,000 of Tranche 2 Convertible Notes ("Notes") with accompanying Warrants ("Warrants") to high net worth investors, on the same terms as the first tranche.

Further Information

£50,000 of subscription for the Notes was subscribed by a single investor. The funds will be utilised for general working capital purposes.

The Notes are being issued at par and are convertible into Ordinary Shares of £0.0001 in Red Rock ("Shares") at a price of 0.6 pence per Share. Each Note has a denomination of £1,000 and is thus convertible into 166,666 new Shares in the Company. Conversion may take place at any time within 12 months of issue date.

Each Note holder also receives 83,333 Warrants for each Note subscribed. Each Warrant entitles the holder to subscribe for Shares at any time up to thirty months from the date of issue at a price of 0.8 pence per Share.

The interest rate on the Notes is 12% per annum, payable on maturity.

The maximum number of new Shares that could fall to be issued upon exercise of these Notes is 8,333,333 and the maximum number of new Shares that could fall to be issued upon exercise of the accompanying Warrants including broker warrants (for an additional consideration to the Company of £35,333) is 4,416,666.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

For further information, please contact:

Andrew Bell 0207 747 9990                                                       Chairman Red Rock Resources Plc

Roland Cornish/ Rosalind Hill Abrahams 0207 628 3396           NOMAD Beaumont Cornish Limited

Jason Robertson 0207 374 2212                                                  Broker First Equity Limited

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