Origo Partners PLC Announcement re Kincora Copper Limited (5662N)

TIDMOPP TIDMOPPP

RNS Number : 5662N

Origo Partners PLC

09 August 2017

9 August 2017

Origo Partners plc

("Origo" or the "Company")

Announcement re Kincora Copper Limited

Origo notes the announcement made by its portfolio company Kincora Copper Limited ("Kincora") detailing a C$4.52m equity raise from sophisticated investors with a preeminent private equity exploration specialist fund as the cornerstone.

The proceeds of the equity raise will fund a planned reconnaissance exploration program in the world-class Southern Gobi copper gold porphyry belt.

The fundraising was carried out via a private placement of 13,711,174 Units at a price of C$0.33 per Unit. Each Unit is comprised of one common share (the "Shares") and one-half of a share purchase warrant, with each whole warrant (the "Warrants") entitling the holder to acquire a further Share at C$0.445 for a period of two years. The private placement is subject to final TSX-V approval. Following successful completion of the placement Origo's shareholding in Kincora will be 25%.

The full text of the announcement is below.

For further information about Origo please visit www.origoplc.com or contact:

 
Origo Partners plc 
 Niklas Ponnert                                    [e-mail] 
 
  Nominated Adviser and Broker 
  Smith & Williamson Corporate Finance Limited 
  Azhic Basirov 
  Ben Jeynes                                       [phone] 
 
  Public Relations 
  Aura Financial 
  Andy Mills                                       [phone] 
 
 
                                         "Kincora closes $4.52m in new equity raise 
                                             for Tier 1 copper porphyry targets 
 
                                  *    Raises $4.52m from sophisticated investors including 
                                        a preeminent private equity exploration specialist 
                                                     fund as the cornerstone 
 
 
                                    *    Proceeds will fund the first modern Tier 1 drill 
                                      testing and district scale reconnaissance exploration 
                                       program in the world-class Southern Gobi copper gold 
                                                          porphyry belt 
 
 
                                    *    The equity placement enables Kincora to explore 
                                          identified Tier 1 targets across its enlarged 
                                       portfolio, including at least 16,000m of drilling at 
                                                       two priority targets 
 
 
                                   *    Kincora is uniquely positioned to consolidate the 
                                         remaining prospective areas of the belt through 
                                              targeted applications and acquisitions 
 
 
 
                                              Vancouver, BC - August 8th, 2017 
 
                Kincora Copper Ltd. (the "Company", "Kincora") (TSXV:KCC) is pleased to announce that it has 
              closed the previously announced non-brokered private placement for gross proceeds of $4,524,687 
               through the issuance of 13,711,174 Units at a price of C$0.33 per Unit. Each Unit is comprised 
                of one common share (the "Shares") and one-half of a share purchase warrant with each whole 
                 warrant (the "Warrants") entitling the holder to acquire a further Share at C$0.445 for a 
                       period of two years. The private placement is subject to final TSX-V approval. 
 
                Proceeds from the offering will accelerate Kincora's exploration and expansion strategy. In 
                 2016, Kincora surpassed Rio Tinto, and related entities, to become the dominant landholder 
              along the Devonian copper-gold belt (100% ownership of 1437 km2). Kincora will shortly initiate 
                 an extensive two-phase drill program at the East Tsagaan Suvarga and Bayan Tal targets for 
                up to 16,000 metres (up to 8,000 metres at both targets), while advancing its district scale 
                                   multi-target, multi-stage pipeline up the value curve. 
 
                 All Units issued are subject to a four-month hold period expiring four months and one day 
                                                 from the date of issuance. 
 
                Sam Spring, President & CEO, commented: "We are encouraged by the support received from new 
               and existing investors despite a challenging market for junior explorers, with many new groups 
               having undertaken detailed due diligence providing validation of our exciting dual exploration 
                                                  and expansion strategy. 
 
               This is testament to the quality of Kincora's targets and the strategic value of our dominant 
              position in this highly mineralized but vastly underexplored Devonian belt, which we are shortly 
                 looking to drill test for the first time by any explorer since 2012. This new equity will 
               significantly strengthen Kincora's ability to test a number of Tier 1 copper porphyry targets 
                          while enabling the Company to further enhance its holdings on the belt. 
 
                 The copper price remains favourable, with prices increasing 50% since we secured the IBEX 
                transaction, and with multiple value add work streams now funded we plan to shortly increase 
                    awareness for what is effectively a new copper junior to the wider public markets." 
 
                      Further details are provided in an updated presentation on the Kincora website: 
                                 http://kincoracopper.com/investors/corporate-presentation 
 
                The Company paid finder's fees of $120,613 and issued 365,493 broker warrants in connection 
              with the offering. Each broker warrant entitles the holder to acquire a further Share at C$0.445 
                                                 for a period of one year. 
 
              Post the aforementioned offering Kincora has 64,445,068 issued shares with a total of 10,168,579 
                                                   warrants outstanding. 
 
                                                       About Kincora 
                Kincora is a junior resource company engaged in the acquisition, exploration and development 
             of mineral properties, with a focus on copper-gold projects in Mongolia. For further information: 
                                                   www.kincoracopper.com. 
 
                                          For further information, please contact: 
                       Sam Spring, President and Chief Executive Officer [e-mail] 
                                                     or [phone] 
 
                                                      Qualified Person 
               The scientific and technical information in this news release was prepared in accordance with 
            the standards of the Canadian Institute of Mining, Metallurgy and Petroleum and National Instrument 
               43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and was reviewed, verified 
           and compiled by Kincora's geological staff under the supervision of Peter Leaman, Senior VicePresident 
                               of Exploration of Kincora Copper, who is the Qualified Person 
                                               for the purpose of NI 43-101. 
 
                                                 Forward-Looking Statements 
              Certain information regarding Kincora contained herein may constitute forward-looking statements 
            within the meaning of applicable securities laws. Forward-looking statements may include estimates, 
                plans, expectations, opinions, forecasts, projections, guidance or other statements that are 
                 not statements of fact. Although Kincora believes that the expectations reflected in such 
                 forward-looking statements are reasonable, it can give no assurance that such expectations 
                 will prove to have been correct. Kincora cautions that actual performance will be affected 
              by a number of factors, most of which are beyond its control, and that future events and results 
                may vary substantially from what Kincora currently foresees. Factors that could cause actual 
                results to differ materially from those in forward-looking statements include market prices, 
                 exploitation and exploration results, continued availability of capital and financing and 
               general economic, market or business conditions. The forward-looking statements are expressly 
                 qualified in their entirety by this cautionary statement. The information contained herein 
                is stated as of the current date and is subject to change after that date. Kincora does not 
                 assume the obligation to revise or update these forward-looking statements, except as may 
                                       be required under applicable securities laws. 
 
                           Neither the TSX Venture Exchange nor its Regulation Services Provider 
                (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility 
                                       for the adequacy or accuracy of this release." 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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August 09, 2017 10:06 ET (14:06 GMT)