Red Rock Resources plc has issued 33,237,805 ordinary shares of £0.0001 each at a price of 0.11 pence under a previously agreed funding arrangement with a single investor.
The request for the shares is from US-based institutional investor Diversified Metal Holdings LLC under an agreement from December 2022.
The fundraise for exploration and working capital was to raise an initial $500,000 and a possible further $1 million within 18 months of the deal.
Following admission, Red Rock’s total issued share capital will consist of 2,106,034,761 ordinary shares, each with one voting right. The company holds no shares in treasury.