Blencowe Resources PLC Warrants Update (2948G)

TIDMBRES

RNS Number : 2948G

Blencowe Resources PLC

18 July 2023

Blencowe Resources plc ("Blencowe" or the "Company")

Warrants Update

Further to the announcement on 18 April 2023, the Board of the Company has indicated its wish to exercise 3,150,000 warrants from a total of 6,000,000 warrants allocated that are due to expire on 18 July 2023. Cameron Pearce and Sam Quinn exercised 500,000 and 250,000 respectively as announced on 23 November 2020, therefore, a balance of 2,150,000 warrants of 4p will expire today.

The Board continue to be in a close period relating to the advanced discussions with the DFC regarding funding the DFS, therefore, may not deal in the securities of the Company.

The Board has committed unconditionally to proceed with exercising the warrants at the earliest opportunity possible at such time it is permitted to exercise the warrants. The Company shall receive proceeds of GBP126,000 following the exercise.

 
 Director          Warrants to be   Price   Proceeds 
                    exercised 
 Cameron Pearce    1,000,000        4p      GBP40,000 
                  ---------------  ------  ---------- 
 Sam Quinn         750,000          4p      GBP30,000 
                  ---------------  ------  ---------- 
 Mike Ralston      1,000,000        4p      GBP40,000 
                  ---------------  ------  ---------- 
 Alex Passmore     400,000          4p      GBP16,000 
                  ---------------  ------  ----------

The Board will notify their holdings in due course following the exercise of warrants.

For further information, please visit https://blencoweresourcesplc.com or the following:

 
 Blencowe Resources     www.blencoweresourcesplc.com 
  Sam Quinn              Tel: +44 (0) 1624 681 250 
                         info@blencoweresourcesplc.com 
 Investor Enquiries     Tel: +44 (0) 7891 677 441 
  Sasha Sethi            sasha@flowcomms.com 
 Tavira Financial       Tel: +44 (0)20 7100 5100 
  Jonathan Evans         jonathan.evans@tavirasecurities.co 
                         m 
 First Equity Limited   Tel: +44 (0)203 192 1733 
  Jason Robertson        jasonrobertson@firstequitylimited.com

Twitter: h tt ps://twi tt er.com/BlencoweRes

LinkedIn: https://www.linkedin.com/company/blencowe-resources/

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July 18, 2023 02:00 ET (06:00 GMT)

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