Rome Resources Raises £200,000 to Advance Tin Drilling in the DRC
Rome Resources Secures £200k Funding to Expand Drilling at Kalayi and Mont Agoma Tin Projects
Aim-listed Rome Resources has announced plans to raise £200 000 through a placing of 100-million new ordinary shares, primarily subscribed by the JLE Group, to advance additional drilling at its Kalayi and Mont Agoma tin discoveries in the Democratic Republic of Congo (DRC).
The new shares will be issued at 0.2p each, representing a 10.5% premium to the November 25 closing mid-market price of 0.181p.
Rome also intends to issue warrants to participants in the placing. Each warrant will allow the holder to purchase one new ordinary share at 0.4p at any time within three years.
These warrants will be non-transferable without company consent and will not be listed on Aim or any other exchange.
The warrant issuance remains subject to shareholder approval at an upcoming general meeting, with notice to be circulated shortly. Additionally, Rome plans to issue 1-million broker warrants to Zeus Capital, exercisable on the same terms.
“This support from JLE provides funding for any additional work the company wishes to undertake associated with the upcoming drilling programme on Bisie North. Management is looking forward to commencing operations soon and will provide regular updates of its progress and results,” said Rome CEO Paul Barrett.
Funds raised will be used to support potential additional drilling at the Kalayi and Mont Agoma tin discoveries, reinforcing Rome Resources’ ongoing exploration efforts in the region.
