Ortac Resources Ltd / Epic: OTC / Market: AIM / Sector: Mining & Exploration
12 January 2018
ORTAC RESOURCES LTD
("ORTAC" or the "COMPANY")
Notice of Name Change
Ortac Resources is pleased to announce that the Company has changed its name to Arc Minerals Ltd ("Arc Minerals") with immediate effect. The Company's new ticker will be ARCM.LN and trading under the new name is expected to commence on or around 22 January 2018. The Company's new website address is www.arcminerals.com.
Nick von Schirnding, executive chairman commented: "The renaming of the group to Arc Minerals represents an exciting new chapter for us. This follows a number of material changes that have been implemented over the past few months including executing a clear strategy focusing on our high quality African exploration assets. Having made major strides in consolidating and advancing our highly attractive gold prospect at Casa, we are now actively pursuing discussions with fellow stakeholders at Zamsort, which is an attractive Zambian copper/cobalt asset. With a new and highly experienced board of directors in place we look forward to an exciting future as Arc Minerals ."
Ortac Resources Ltd
Nick von Schirnding (Executive Chairman)
+44 (0) 20 3874 8664
SP Angel (Nominated Adviser & Broker)
Ewan Leggat / Lindsay Mair / Soltan Tagiev
+44 (0) 20 3470 0470
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterised by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; possible variations in ore grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
Ortac Resources Limited is an AIM listed exploration and mine development company focused on a diversified portfolio of mining projects with interests in Slovakia, Eritrea, the Democratic Republic of the Congo and Zambia.
Ortac's current holdings include:
· A recently announced, and in the process of completion, offer to acquire all the outstanding shares in CASA Mining Limited;
· A 14 percent equity interest in Zamsort Limited, a private company focused on a prospective copper and cobalt licence in Zambia, with the c. 6 percent balance and interest (convertible note) being rolled forward to the end of 2018;
· 100 percent ownership of the Kremnica Mining Licence Area in Slovakia;
· An 18.48 percent interest in Andiamo Exploration Limited, a private company exploring for resources in Eritrea.
For more information visit www.arcminerals.com
This information is provided by RNS