ZincOx Resources plc has announced a conditional placing of 14.36M new Ordinary Shares at a price of 45 pence per share to raise approximately £6.5M before expenses.

The Company anticipates that this ‘Placing’ will enable the Company to complete the ramp-up of its first recycling plant, KRP1, in South Korea and to begin to progress the expansion of the KRP2 and projects in other parts of the world.

The Placing is conditional, inter alia, on a resolution being passed at a general meeting of the Company to disapply pre-emption rights in connection with the allotment of the Placing Shares.