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Highlights:
- Rockfire Resources launches Retail Offer to provide existing retail shareholders with the chance to participate.
- The Company aims to raise £660,000 through a placing of 550,000,000 new shares at 0.12p.
- Retail Offer closes on December 10, 2024, with shares expected to be admitted to AIM on December 16, 2024.
Rockfire Resources plc (LON:ROCK), a base metal, precious metal, and critical mineral exploration company, is pleased to announce a Retail Offer for its existing retail shareholders, enabling them to purchase new ordinary shares in the Company. The shares will be issued at a price of 0.12p each, with the total amount to be raised through the Fundraising Shares expected to be £660,000 before expenses.
Alongside the Retail Offer, Rockfire Resources is also conducting a placing to raise funds, which will include 550,000,000 new Ordinary Shares. Together with the Retail Offer Shares, these are being referred to as the Fundraising Shares. The net proceeds from both the Retail Offer and Placing will be allocated toward the Company's development plans as outlined in the separate Placing Announcement.
The Retail Offer is designed to give existing retail shareholders in the United Kingdom the opportunity to participate in the fundraising on the same terms as institutional investors. Rockfire recognizes the value of its retail shareholder base and seeks to provide them with a chance to participate in this investment round.
Eligibility for Retail Offer:
To be eligible for participation in the Retail Offer, applicants must meet the following criteria:
- Be a retail shareholder of the Company on or prior to the release of this announcement.
- Be a resident of the United Kingdom.
- Be a customer of a participating financial intermediary.
The Retail Offer will be open for applications from 8:00 AM on December 6, 2024, and will close at 5:00 PM on December 10, 2024, though the Company reserves the right to close the offer earlier. Eligible Shareholders should be aware that participating intermediaries may have earlier deadlines for submitting applications.
Expected Timetable:
- Retail Offer Opens: 8:00 AM, December 6, 2024
- Retail Offer Closes: 5:00 PM, December 10, 2024
- Announcement of Results: 7:00 AM, December 11, 2024
- Admission of Retail Offer Shares: 8:00 AM on or around December 16, 2024
Upon completion of the Retail Offer, the new shares will be admitted to trading on the AIM market of the London Stock Exchange, expected to take place on December 16, 2024.
Use of Funds:
The net proceeds from the Retail Offer are expected to be used in line with the Company’s broader funding strategy, as set out in the Placing Announcement. These funds will support the development of Rockfire’s projects, which include its exploration and potential production activities across its portfolio of base metal, precious metal, and critical mineral assets.
