ORIOLE RESOURCES PLC — Share Issue/Capital Change 2024

Jan 24, 2024

National Storage Mechanism | Additional information

RNS Number : 6782A

Oriole Resources PLC

24 January 2024

Oriole Resources PLC 

('Oriole Resources' or 'the Company' or 'the Group')

Exercise of Warrants and Total Voting Rights

Oriole Resources PLC (AIM: ORR), the AIM-quoted exploration company focussed on West Africa announces that, following an exercise of warrants over ordinary shares in the Company (the "Exercise"), application has been made for 13,888,888 new ordinary shares of 0.1p each ("Ordinary Shares") in the Company to be admitted to trading on AIM on 29 January 2024 ("Admission"). The exercise price of the warrants is as set out below:

Instrument	Exercise Price (pence)	Number of New Ordinary Shares to be admitted
Warrants	0.25	13,888,888

The new Ordinary Shares will rank pari passu with the Company's existing Ordinary Shares.

Following Admission, a total of 157,555,555 warrants and 264,526,245 options over Ordinary Shares (representing approximately 10.8 per cent. of the Company's enlarged issued share capital) remain outstanding.

Total Voting Rights

Following Admission, the Company's issued share capital will be 3,895,872,338 Ordinary Shares. This figure of 3,895,872,338 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Following the publication of this announcement, this inside information is now considered to be in the public domain.

** ENDS **

For further information please visit www.orioleresources.com, @OrioleResources on Twitter, or contact:

Oriole Resources Plc	Tel: +44 (0)20 7830 9650
Tim Livesey / Bob Smeeton / Claire Bay
BlytheRay (IR/PR Contact)	Tel: +44 (0)20 7138 3204
Tim Blythe / Megan Ray
Grant Thornton UK LLP	Tel: +44 (0)20 7383 5100
Samantha Harrison / Ciara Donnelly
SP Angel Corporate Finance LLP Ewan Leggat / Harry Davies-Ball	Tel: +44 (0)20 3470 0470

Notes to Editors:

Oriole Resources PLC is an AIM-listed gold exploration company, operating in West Africa. It is focussed on early-stage exploration in Cameroon, where the Company has reported a Resource of 375,000 oz Au at 2.30g/t in the JORC Inferred category at its 82.2%-owned Bibemi project and has identified multi-kilometre gold and lithium anomalism within the district-scale Central Licence Package project. BCM International is currently earning up to a 50% interest in the Bibemi and Mbe projects in return for a combined investment of US$1.5m in signature payments (US$550,000 of which has already been received), up to US$8m in exploration expenditure, as well as JORC resource-based success payments.

At the more advanced Senala gold project in Senegal, AGEM Senegal Exploration Suarl ('AGEM'), a wholly-owned subsidiary of Managem Group, has earned an initial 51% beneficial interest in the Senala Exploration Licence by spending US$4 million and has the option to spend up to a further US$4 million by 17 February 2024 to earn an additional 19% interest in the licence. The Company also has several interests and royalties in companies operating in East Africa and Turkey that could deliver future cash flow.

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