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Ortac’s stake in Casa Mining increases, offer still open

Ortac's offer for Casa Mining remains open and acceptances are now coming in on a daily basis
gold bars
Ortac is slowly consolidating its control of Casa's sizeable gold resource

Ortac Resources Ltd's(LON:OTC) stake in Casa Mining has increased from 84.7% to 87.4%, as the company continues with its offer to acquire all the issued shares of Casa.

Casa Mining holds potentially lucrative gold ground in the Democratic Republic of Congo which already boasts a significant resource.

READ: Ortac Resources focused on gold potential in DRC

If Ortac’s offer is accepted by all shareholders of Casa, then a total of 100 mln new ordinary shares will be issued to Casa shareholders.

On 10 November 2017, Ortac made an application for a block admission of 100,000,000 New Ordinary Shares to trade on the AIM market of the London Stock Exchange plc and these shares were admitted to trading on AIM on 15 November 2017.

To date, Ortac has issued 77,597,646 New Ordinary Shares pursuant to the acquisition of Casa and the Offer, so up to 22,402,354 New Ordinary Shares potentially remain to be issued under the Block Admission.

READ: Ortac moving closer to full ownership of Casa Mining

The offer remains open until 10 May 2018 and acceptances continue to be received daily.

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Ortac Resources Ltd Timeline

Newswire
November 06 2017

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