TIDMROCK
RNS Number : 0319D
Rockfire Resources PLC
17 October 2022
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS
RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN
WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE
UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF IRELAND,
THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH
SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF EU REGULATION 596/2014 (WHICH FORMS PART OF
DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT
2018 ("EUWA")) ("UK MAR"). IN ADDITION, MARKET SOUNDINGS (AS
DEFINED IN UK MAR) WERE TAKEN IN RESPECT OF CERTAIN OF THE MATTERS
CONTAINED WITHIN THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN
PERSONS BECAME AWARE OF INSIDE INFORMATION (AS DEFINED UNDER UK
MAR). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY
INFORMATION SERVICE, THOSE PERSONS THAT RECEIVED INSIDE INFORMATION
IN A MARKET SOUNDING ARE NO LONGER IN POSSESSION OF SUCH INSIDE
INFORMATION, WHICH IS NOW CONSIDERED TO BE IN THE PUBLIC
DOMAIN.
17 October 2022
Rockfire Resources plc
("Rockfire" or the "Company")
Subscription with UK Institution
and
Subscription by Directors & Management
Rockfire Resources plc (LON: ROCK), the gold and base metal
exploration company, is pleased to announce that it has
successfully raised GBP375,000, before expenses, through a UK
institutional investor ("Institutional Investor") subscribing for
240,000,000 new ordinary shares of 0.1p par value (the "Ordinary
Shares") at a price of 0.125 pence per share (the "Issue Price")
and certain Rockfire employees, including a number of Directors and
a member of senior management subscribing for an aggregate of
60,000,000 new Ordinary Shares at the Issue Price (the
"Subscription"). In total 300,000,000 new Ordinary Shares have been
issued pursuant to the Subscription (the "Subscription
Shares").
David Price, Chief Executive of Rockfire, said :
"We are delighted to have completed a successful subscription
with a UK Institutional investor, especially considering the
current difficult market conditions. By participating in this
subscription alongside a strong financial partner, the board of
directors and management are demonstrating the positive outlook it
has for the Company generally and Molaoi particularly. Following
this subscription, the board and management will jointly hold
14.95% of the ordinary shares in the company.
"These new funds strengthen the company's balance sheet and will
help to facilitate our planned geophysical survey and initial
drilling programme at Molaoi. The Company is pleased to confirm it
now has sufficient funds to complete both of these programmes
sequentially which are expected to be completed by the end of June
2023. The geophysical survey is designed to highlight massive
sulphide lodes with strong magnetic trends. This is expected to
provide clear drilling targets for our initial drilling
campaign.
"The Company has submitted the relevant applications for the
initial drilling programme and is eagerly awaiting the approvals.
Our geophysical survey will commence shortly, with subsequent
drilling to be directed at the strongest magnetic anomalies
expected to be outlined by the geophysics. The Board is looking
forward to commencing initial drilling at Molaoi, with drilling
results expected regularly during the programme."
Director and management participation
The following Directors and employees of the Company have
subscribed for Subscription Shares pursuant to the
Subscription:
Director Existing Number of Subscription Total number % Shareholding
/ Management number of Shares of Ordinary following
Ordinary Shares Shares following Admission
the Subscription
Patrick Elliott 17,242,765 22,800,000 40,042,765 2.79%
Nicholas
Walley 59,000,000 16,200,000 75,200,000 5.23%
Gordon Hart 8,823,530 9,600,000 18,423,530 1.28%
David Price 38,850,000 7,500,000 46,350,000 3.22%
Graeme Hogan nil 3,900,000 3,900,000 0.27%
----------------- ----------------------- ------------------ --------------
The FCA notification, made in accordance with the requirements
of the UK Market Abuse Regulation, is appended below.
Admission and total voting rights
The Subscription has been conducted utilising the Company's
existing share authorities. The Subscription is conditional, inter
alia, on admission of the Subscription Shares to trading on AIM
("Admission") becoming effective.
Application has been made to the London Stock Exchange for the
Subscription Shares to be admitted to trading on AIM. It is
expected that Admission will become effective and that dealings in
the Subscription Shares on AIM will commence on or around 20
October 2022.
On Admission, the Company's issued ordinary share capital will
consist of 1,437,239,067 ordinary shares of 0.1p each, with one
vote per share. The Company does not hold any ordinary shares in
treasury. Therefore, on Admission, the total number of ordinary
shares and voting rights in the Company will be 1,437,239,067. With
effect from Admission, 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 to their interest in, the share capital of the Company
under the FCA's Disclosure Guidance and Transparency Rules.
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 Tel: +44 (0) 20 3328 5656
Adviser & Broker)
John Depasquale / George Payne (Corporate
Finance) Matt Butlin / Kelly Gardner
(Sales and Corporate Broking)
Notes to Editors
Rockfire Resources plc (LON: ROCK) is a mineral exploration
company with a portfolio of 100%-owned gold and copper projects in
Queensland Australia and a high-grade zinc deposit in Greece.
-- The Molaoideposit in Greece has a JORC resource of 210,000
tonnes of zinc, 39,000 tonnes of lead and3.5 million ounces of
silver.
-- The Plateaudeposit in Queensland has a JORC resource of
208,000 ounces of gold and 1.5 million ounces of silver (0.2 g/t Au
cut-off).
-- The Copperhead 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.
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.
Notice to Distributors
Solely for the purposes of the temporary product intervention
rules made under sections S137D and 138M of the Financial Services
and Markets Act 2000 and the FCA Product Intervention and Product
Governance Sourcebook (together, the "Product Governance
Requirements"), and disclaiming all and any liability, whether
arising in tort, contract or otherwise, which any "manufacturer"
(for the purposes of the Product Governance Requirements) may
otherwise have with respect thereto, the Placing Shares have been
subject to a product approval process, which has determined that
the Placing Shares are: (i) compatible with an end target market of
retail investors and investors who meet the criteria of
professional clients and eligible counterparties, as defined under
the FCA Conduct of Business Sourcebook COBS 3 Client
categorisation, and are eligible for distribution through all
distribution channels as are permitted by the FCA Product
Intervention and Product Governance Sourcebook (the "Target Market
Assessment").
Notwithstanding the Target Market Assessment, distributors
should note that: the price of the Placing Shares may decline and
investors could lose all or part of their investment; the Placing
offer no guaranteed income and no capital protection; and an
investment in the Placing is compatible only with investors who do
not need a guaranteed income or capital protection, who (either
alone or in conjunction with an appropriate financial or other
adviser) are capable of evaluating the merits and risks of such an
investment and who have sufficient resources to be able to bear any
losses that may result therefrom. The Target Market Assessment is
without prejudice to the requirements of any contractual, legal or
regulatory selling restrictions in relation to the Placing.
Furthermore, it is noted that, notwithstanding the Target Market
Assessment, Allenby Capital Limited will only procure investors who
meet the criteria of professional clients and eligible
counterparties. For the avoidance of doubt, the Target Market
Assessment does not constitute: (a) an assessment of suitability or
appropriateness for the purposes of the FCA Conduct of Business
Sourcebook COBS 9A and 10A respectively; or (b) a recommendation to
any investor or group of investors to invest in, or purchase, or
take any other action whatsoever with respect to the Placing
Shares.
Each distributor is responsible for undertaking its own target
market assessment in respect of the Placing Shares and determining
appropriate distribution channels.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Patrick Elliott
-------------------- --------------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------
a) Position/status Non-executive Director
-------------------- --------------------------------------------------
b) Initial notification Initial notification
/Amendment
-------------------- --------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------
a) Name Rockfire Resources plc
-------------------- --------------------------------------------------
b) LEI 213800THSZQSFKTXOI24
-------------------- --------------------------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
------------------------------------------------------------------------
a) Description Ordinary shares of 0.1p each in Rockfire Resources
of the financial plc
instrument,
type of instrument Identification code (ISIN) for Rockfire Resources
Identification plc ordinary shares: GB00B42TN250
code
-------------------- --------------------------------------------------
b) Nature of Purchase of shares
the transaction
-------------------- --------------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) 0.125p 22,800,000
----------
-------------------- --------------------------------------------------
d) Aggregated N/A
information
- Aggregated
volume
- Price
-------------------- --------------------------------------------------
e) Date of the 14 October 2022
transaction
-------------------- --------------------------------------------------
f) Place of the Outside a trading venue
transaction
-------------------- --------------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Nicholas Walley
-------------------- --------------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------
a) Position/status Non-executive Director
-------------------- --------------------------------------------------
b) Initial notification Initial notification
/Amendment
-------------------- --------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------
a) Name Rockfire Resources plc
-------------------- --------------------------------------------------
b) LEI 213800THSZQSFKTXOI24
-------------------- --------------------------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
------------------------------------------------------------------------
a) Description Ordinary shares of 0.1p each in Rockfire Resources
of the financial plc
instrument,
type of instrument Identification code (ISIN) for Rockfire Resources
Identification plc ordinary shares: GB00B42TN250
code
-------------------- --------------------------------------------------
b) Nature of Purchase of shares
the transaction
-------------------- --------------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) 0.125p 16,200,000
----------
-------------------- --------------------------------------------------
d) Aggregated N/A
information
- Aggregated
volume
- Price
-------------------- --------------------------------------------------
e) Date of the 14 October 2022
transaction
-------------------- --------------------------------------------------
f) Place of the Outside a trading venue
transaction
-------------------- --------------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Gordon Hart
-------------------- --------------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------
a) Position/status Chairman
-------------------- --------------------------------------------------
b) Initial notification Initial notification
/Amendment
-------------------- --------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------
a) Name Rockfire Resources plc
-------------------- --------------------------------------------------
b) LEI 213800THSZQSFKTXOI24
-------------------- --------------------------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
------------------------------------------------------------------------
a) Description Ordinary shares of 0.1p each in Rockfire Resources
of the financial plc
instrument,
type of instrument Identification code (ISIN) for Rockfire Resources
Identification plc ordinary shares: GB00B42TN250
code
-------------------- --------------------------------------------------
b) Nature of Purchase of shares
the transaction
-------------------- --------------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) 0.125p 9,600,000
---------
-------------------- --------------------------------------------------
d) Aggregated N/A
information
- Aggregated
volume
- Price
-------------------- --------------------------------------------------
e) Date of the 14 October 2022
transaction
-------------------- --------------------------------------------------
f) Place of the Outside a trading venue
transaction
-------------------- --------------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name David Price
-------------------- --------------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------
a) Position/status Chief Executive Officer
-------------------- --------------------------------------------------
b) Initial notification Initial notification
/Amendment
-------------------- --------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------
a) Name Rockfire Resources plc
-------------------- --------------------------------------------------
b) LEI 213800THSZQSFKTXOI24
-------------------- --------------------------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
------------------------------------------------------------------------
a) Description Ordinary shares of 0.1p each in Rockfire Resources
of the financial plc
instrument,
type of instrument Identification code (ISIN) for Rockfire Resources
Identification plc ordinary shares: GB00B42TN250
code
-------------------- --------------------------------------------------
b) Nature of Purchase of shares
the transaction
-------------------- --------------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) 0.125p 7,500,000
---------
-------------------- --------------------------------------------------
d) Aggregated N/A
information
- Aggregated
volume
- Price
-------------------- --------------------------------------------------
e) Date of the 14 October 2022
transaction
-------------------- --------------------------------------------------
f) Place of the Outside a trading venue
transaction
-------------------- --------------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Graeme Hogan
-------------------- --------------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------
a) Position/status Company Secretary
-------------------- --------------------------------------------------
b) Initial notification Initial notification
/Amendment
-------------------- --------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------
a) Name Rockfire Resources plc
-------------------- --------------------------------------------------
b) LEI 213800THSZQSFKTXOI24
-------------------- --------------------------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
------------------------------------------------------------------------
a) Description Ordinary shares of 0.1p each in Rockfire Resources
of the financial plc
instrument,
type of instrument Identification code (ISIN) for Rockfire Resources
Identification plc ordinary shares: GB00B42TN250
code
-------------------- --------------------------------------------------
b) Nature of Purchase of shares
the transaction
-------------------- --------------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) 0.125p 3,900,000
---------
-------------------- --------------------------------------------------
d) Aggregated N/A
information
- Aggregated
volume
- Price
-------------------- --------------------------------------------------
e) Date of the 14 October 2022
transaction
-------------------- --------------------------------------------------
f) Place of the Outside a trading venue
transaction
-------------------- --------------------------------------------------
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END
MSCFFFLVIELRLIF
(END) Dow Jones Newswires
October 17, 2022 02:00 ET (06:00 GMT)
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