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 £126,000 following the exercise.
| Director | Warrants to be exercised | Price | Proceeds |
| Cameron Pearce | 1,000,000 | 4p | £40,000 |
| Sam Quinn | 750,000 | 4p | £30,000 |
| Mike Ralston | 1,000,000 | 4p | £40,000 |
| Alex Passmore | 400,000 | 4p | £16,000 |
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 Sam Quinn
| Tel: +44 (0) 1624 681 250
|
| Investor Enquiries Sasha Sethi | Tel: +44 (0) 7891 677 441
|
| Tavira Financial Jonathan Evans | Tel: +44 (0)20 7100 5100 jonathan.evans@tavirasecurities.com
|
| First Equity Limited Jason Robertson | Tel: +44 (0)203 192 1733 jasonrobertson@firstequitylimited.com
|
Twitter: https://twitter.com/BlencoweRes
LinkedIn: https://www.linkedin.com/company/blencowe-resources/
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