Upland Resources Limited Exercise of Warrants and Subscription (8520P)
12 Oktober 2023 - 8:00AM
UK Regulatory
TIDMUPL
RNS Number : 8520P
Upland Resources Limited
12 October 2023
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART
IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN
This announcement is not an offer for sale, or a solicitation of
an offer to acquire, securities in any jurisdiction, including in
or into the United States, Canada, Australia, or Japan. Neither
this announcement nor any part of it shall form the basis of or be
relied on in connection with or act as an inducement to enter into
any contract or commitment whatsoever.
12 October 2023
UPLAND RESOURCES LIMITED
("Upland" or the "Company")
Exercise of Warrants and Subscription
Upland Resources Limited (LSE: UPL) is pleased to announce that
it has received an exercise notice to exercise 61,640,000 warrants
that were issued on 27 October 2022.
Additionally, we are pleased to announce the Company has placed
9.8m shares with a strategic partner at 2.05p
This warrant exercise and subscription will generate proceeds of
GBP447,460
Bolhassan Di, Upland Chairman and CEO commented:
"The interest and support we are receiving from various corners
is very encouraging, it validates our strategy and affords the
Company the option to choose the strategic investors who we think
are important to our success in the longer term. These alongside
recent exercises further strengthen our existing cash position into
2024."
Admission
Admission of new Ordinary Shares to the Official List (standard
listing segment) and to trading on the London Stock Exchange's Main
Market is expected within 7 days from the date of submission of the
listing application.
Total voting rights
Following the warrant exercise, the Company's total number of
Ordinary Shares in issue will be 1,189,597,741. This figure may be
used by shareholders as the denominator for the calculation to
determine if they are required to notify the Company of their
interest in, or a change to their interest in, the Company's
securities in accordance with the FCA's Disclosure and Transparency
Rules.
**ENDS**
For further information, please contact:
Upland Resources Limited Tel: +60 198 861 919
Bolhassan Di, Chairman and CEO bolhassan@uplandbigoil.com.my
gerry.murray@upland.energy
Optiva Securities - Broker Tel: +44 (0)20 3137 1903
Christian Dennis christian.dennis@optivasecurities.com
(Corporate Broker) www.optivasecurities.com
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END
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