Keras Resources PLC Holding(s) in Company (4811W)

TIDMKRS

RNS Number : 4811W

Keras Resources PLC

17 April 2023

Keras Resources plc ('Keras' or 'the Company')

Holdings in the Company

Keras announces that it was notified on 13 April 2023 by Chris Grosso from Kershner Grosso & Co. ('Kershner Grosso'), a Saratoga Springs, New York State based Investment Advisor that it had acquired First Uranium Resources Ltd's (CSE: URNM) (KMMIF:OTC) ('First Uranium') entire holding of 8,000,000 ordinary shares of 1 pence each in the Company ("Ordinary Shares") in an off-market trade at 2.5p per Ordinary Share. Post the announcement of 13 March 2023 stating that AxCap Ventures Inc ('Axcap') had sold its entire 5,610,000 shareholding in the Company, neither First Uranium nor Axcap hold a notifiable interest in the Company's issued share capital.

Chris Grosso will hold the shares on behalf of Kershner Grosso which manages in excess of USD400mn on behalf of its clients, investing in businesses in the junior resource sector which tend to be long-term in nature with Kershner Grosso providing ongoing support and guidance as dictated by each management group, until the full value of each asset is realised. Most recently, Kershner Grosso was the largest shareholder in Silvercrest Metals Inc, a Canadian precious metals exploration and production company headquartered in Vancouver, BC with its flagship asset Las Chispas Mine, in Sonora, Mexico. Kershner Grosso clients remain large shareholders in Silvercrest and have seen Silvercrest's share price grow from USD0.10 at the time of its spin out and initial private placement to its current price of over USD7.00.

The Keras Board is very pleased to have Kershner Grosso on board as a cornerstone shareholder. Kershner Grosso's investment philosophy is very much aligned with Keras's growth strategy in the US and the relationship is expected to provide access to new markets and opportunities throughout North America.

Other than as previously announced by RNS, Keras has no further information pursuant to Rule 17 Schedule Five of the AIM Rules for Companies in respect of any dealings by First Uranium Inc in the Ordinary Share capital of the Company.

For further information please visit www.kerasplc.com , follow us on Twitter @kerasplc or contact the following:

 
 Graham Stacey                  Keras Resources plc           [e-mail] 
  Annabel Redford 
 Nominated Adviser & Joint 
  Broker                                                      [phone] 
  Ewan Leggat / Charlie         SP Angel Corporate Finance     0470 
  Bouverat                       LLP 
 
  Joint Broker                                                 [phone] 
  Damon Heath / Erik Woolgar     Shard Capital Partners        9900 
                                 LLP 
  Financial and Corporate 
  Communications                                               [phone] 
  Felicity Winkles               Celicourt                     3871 
 

Notes:

Keras Resources (AIM: KRS) wholly owns the Diamond Creek organic phosphate mine in Utah, US. Diamond Creek is one of the highest-grade organic phosphate deposits in the US and is a fully integrated mine to market operation with in-house processing facilities. The operation produces a variety of organic phosphate products that can be tailored to customer requirements for fertiliser.

The Company is focused on continuing to build market share in the fast-growing US organic fertiliser market and build Diamond Creek into the premier organic phosphate producer in the US.

Additionally, Keras holds an 85% interest in the Nayéga manganese project in Togo, which hosts an 8.4 million tonne manganese oxide Ore Reserve in northern Togo, held through Togolese subsidiary Société Générale des Mines SA (SGM).

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April 17, 2023 11:30 ET (15:30 GMT)