Rome Resources raises additional equity

Rome Resources Plc (AIM:RMR, FRA:33R) has topped up its recent financing with a further £390,000 from existing non-UK shareholders, taking total proceeds from the conditional direct equity subscription to around £1.59 million.

The DRC-focused tin and copper explorer said the additional investment followed requests from certain long-standing shareholders to participate on the same terms as the subscription announced on 20 April.

Rome will issue 130 million new ordinary shares of 0.1p each under the additional subscription.

Chief executive Paul Barrett said the move represented “a strong vote of confidence” in the company’s DRC projects after what he described as Rome’s most successful drilling campaign at Kalayi to date.

Separately, Rome said it plans to appoint Edward Loye as a non-executive director, subject to nominated adviser approval and customary due diligence. Loye is an experienced geologist and entrepreneur in non-ferrous metals, having founded Namibia-focused E-Tech Metals, now ReeXploration, and currently serves as chief executive of Great Western Mining Corporation.