Red Rock New Lock-In Agreement
Regency Mines Plc (LON: RGM) the battery metals and flexible grid solutions company announces the partial waiver of an existing lock-in agreement over 7,789,091 shares to enable a block trade to new investors and the lock-in of all remaining shares currently held by Red Rock Resources Plc.
Partial Lock-In Release
The Company has agreed to partially release an existing lock-in agreement with YA PN II Ltd and Riverfort Global Capital in the Company’s shares involving 7,789,091 shares, to facilitate a transaction by which these shares have been placed with new investors. The balance of 18,174,545 shares held by YA PN II Ltd and Riverfort Global Capital will remain bound by the existing provisions of the lock-in agreement and are therefore not available to trade until June 2020.
Red Rock Lock-In Agreement
Regency has executed a lock-in agreement with Red Rock Resources Plc (“RRR”) covering the entire position (3,383,633 shares) currently held by RRR. Under the terms of this agreement 100% of these shares will be locked in through March 2020, 70% will be locked up through June 2020 and 40% of the total will be locked in through December 2020, at which time the agreement will expire.
