RMR Rome Resources Plc

This announcement contains inside information for the purposes of Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310. With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

26 July 2024

Rome Resources Plc

("Rome" or the "Company")

Completion of acquisition of Rome Resources Ltd

and

Enlarged share capital admitted to trading on AIM

Rome Resources Plc (AIM: RMR) is pleased to announce the completion of its acquisition of Rome Resources Ltd ("Rome Resources") ("Completion") and the admission of its enlarged share capital to trading on AIM effective from 8.00 a.m. on 26 July 2024 ("Admission") under the Company's new name "Rome Resources Plc", which has now become effective, and the TIDM code "RMR".

Allenby Capital Limited ("Allenby Capital") is acting as Nominated Adviser and Joint Broker to the Company alongside Oak Securities (a trading name of Merlin Partners LLP) who are acting as Joint Broker to the Company.

Admission Highlights

·      Successful fundraise of approximately £4.0 million (before expenses) through the issue of 1,333,333,330 new ordinary shares with a nominal value of 0.1 pence each ("Ordinary Shares") at an issue price of 0.30 pence per new Ordinary Share (the "Issue Price").

·      On Admission and based on the Issue Price, the Company will have a market capitalisation of approximately £14.6 million.

·      Acquisition of Rome Resources:

o  Exploration potential: Rome Resources has identified three prospective areas located in the Projects with high-grade tin in soil anomalies identified.

o  Proximity to world class resource: Alphamin's Mpama North mine, located 8km away from the Projects, is reported by the Edison Group in 2023 as the world's highest-grade tin mine, producing 4 per cent. of the world's tin from analogous geology to the Projects.

o  Exploration team: Rome Resources' exploration team discovered Alphamin's tin resources.

o  Defined roadmap to resource definition: Immediate near-term drilling is anticipated to advance the Projects from the outset.

o  The current global price of tin is 37 per cent. higher than the lowest price during the last 12 months: The demand for tin has been influenced by a number of factors including but not limited to: (i) the energy transition; (ii) disruptions to countries that have traditionally contributed to the global market share of tin production; and (iii) growth of the global artificial intelligence (AI) sector which is expected to contribute to an increase in demand in electronics and electrification.

Paul Barrett, Chief Executive Officer of Rome Resources Plc, commented:

"Today marks a new beginning and we are hugely pleased to have successfully delivered Rome Resources to London's AIM market whilst raising approximately £4.0 million. The fundraise demonstrates the appetite amongst investors for the Projects in the Democratic Republic of Congo and enables us to advance exploration workstreams, as we seek to move the Projects up the value chain. Our firm view is that Bisie North has the potential to be a highly strategic tin project to global supply. I look forward with much enthusiasm to updating shareholders in the months ahead."

Following Admission, the Company will have 4,871,864,607 Ordinary Shares in issue. The Company's ISIN and SEDOL remains unchanged and is GB00BYY0JQ23 and BYY0JQ2 respectively. A copy of the Admission Document as well as the information required to be disclosed pursuant to AIM Rule 26 is available on the Company's new website, www.romeresources.com.

It is anticipated that the Consideration Shares will be distributed by Link Group on or prior to 7 August 2024 to shareholders of Rome Resources Ltd as at the Effective Time.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them is set out at the end of this announcement.

The same definitions apply throughout this announcement as those set out in the Admission Document published on 8 July 2024, a copy of which is available to view at www.romeresources.com, unless the context requires otherwise.

For further information please contact:

Rome Resources Plc

Mark Gasson, Executive Chairman

Paul Barrett, Chief Executive Officer

Tel. +44 (0)20 3143 6748

Allenby Capital Limited (Nominated Adviser and Joint Broker)

John Depasquale / Vivek Bhardwaj / Lauren Wright (Corporate Finance)

Stefano Aquilino / Joscelin Pinnington (Sales & Corporate Broking)

Tel. +44 (0)20 3328 5656

OAK Securities (Joint Broker)

Jerry Keen, Head of Corporate Broking (jerry.keen@oak-securities.com)

Henry Clarke, Head of Sales (henry.clarke@oak-securities.com)

Tel. +44 (0)20 3973 3678

Camarco (Financial PR)

Gordon Poole / Emily Hall / Sam Morris

Tel. +44 (0) 20 3757 4980

OAK Securities is a trading name of Merlin Partners LLP. Merlin Partners LLP is authorised and regulated by the Financial Conduct Authority (Reference Number: 449191). Merlin Partners LLP is registered in England and Wales (Registered Partnership Number: OC317265).

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them: