Finance Metals & Minerals News

Red Rock raises £160,000 via discounted placing with single investor

Red Rock Resources plc received £160,000 through a placing of 40,000,000 new ordinary shares of £0.0001 each in the company with a high net worth investor at 0.4 pence per share.

JOINT BROKER

Monecor (London) Ltd, trading as OvalX, raised for the money which Red Rock will use for general working capital.   

In conjunction with the placing, Red Rock will grant OvalX up to 20,000,000 warrants exercisable for 24 months at 0.8 pence, subject to shareholder approval.

Red Rock has also appointed OvalX as its joint broker.

Following admission, Red Rock’s issued ordinary share capital will comprise 1,296,147,223 ordinary shares.