Red Rock Resources plc has signed a funding agreement with institutional investor Diversified Metals Holdings LLC to fund exploration and working capital.
SUBSCRIPTIONS
Diversified Metals will subscribe for new ordinary shares of £0.0001 to raise an initial US$500,000.
Following this, the US-based investor may subscribe for further shares for $1,000,000, within the next 18 months.
The subscription price will initially be equal to £0.007 per share, representing a premium of approximately 79% to the closing price of Red Rock’s shares of £0.0039 on 13 December 2022.
As of 15 December 2022, the company had 1,341,147,223 shares in issue each carrying the right to one vote. Red Rock holds no shares in treasury.