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LONDON - Rome Resources plc (AIM:RMR), a DRC-focused tin and copper explorer, announced Wednesday its intention to conduct a £200,000 equity fundraise through a placing of 100 million new ordinary shares at 0.2 pence per share.
The placing price represents a 10.5 percent premium to the company’s closing mid-market price of 0.181 pence per share on November 25, according to the company’s statement.
The fundraise follows a recently announced £1.9 million capital raise by the company. The new placing will be primarily to JLE Group, which represents the majority of the placing book.
Investors participating in the placing will receive one warrant for each placing share, entitling them to acquire one new ordinary share at 0.4 pence within a three-year period. The warrants will not be admitted to trading on AIM or any other exchange.
Zeus Capital Limited is acting as bookrunner for the transaction and will receive broker warrants to subscribe for 1 million new ordinary shares, exercisable at 0.4 pence per share for three years from admission.
The company plans to use the proceeds for contingent additional drilling on the Kalayi and Mont Agoma tin discoveries in the Democratic Republic of Congo.
"This support from JLE provides funding for any additional work the Company wishes to undertake associated with the upcoming drilling programme on Bisie North," said Paul Barrett, Chief Executive Officer of Rome Resources, in the press release.
The placing will utilize the company’s existing share authorities granted at its general meeting on July 30, 2025. The issue of warrants will be subject to shareholder approval at a forthcoming general meeting.
Admission of the placing shares to trading on AIM is expected around December 1, 2025.
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