Congratulations Andrew Bell...it looks like RRR are kicking some goals.
Ian Scott and Andrew Bell are significant "Proven Assets" to the RSL story moving forward...i have absolute confidence in them to realise RSLs potential.
U prices Bullish again! RSL starting to warm up again i feel.
DYOR
Red Rock Resources plc, the mineral exploration and investment company with interests in iron ore and manganese in Australia and Zambia and uranium in Africa and Australia, is pleased to announce that it has entered into a Standby Equity Distribution Agreement ('SEDA') for up to £3 million with YA Global Master SPV Limited ('YA Global'), which is advised by Yorkville Advisors, LLC, an investment group headquartered in New York and active across North America, Europe and the Asia Pacific region.
Under the SEDA, YA Global has agreed to subscribe in tranches for up to a maximum of £3 million of the Company's ordinary shares of 0.1 pence each ('Ordinary Shares') over a period of up to 24 months fromfirst use of the SEDA by the Company (or if earlier, 32 months fromthe date of the agreement). Subscriptions will be at a price closelyrelated to market price at the time of subscription and will takeplace at timings and intervals and in sizes determined by Red Rock, subject to some limitations including marketability which may limit the total amount available under the SEDA.
In the opinion of the directors, the SEDA offers a means of raising funds at a cost competitive with that of alternative equity financing opportunities that are currently available for companies of a similar size to Red Rock. The directors believe that the availability of this additional funding channel enhances the Company's financial security and ability to plan, and will therefore help underpin Red Rock's future growth.
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