Exercise of Warrants and Subscription

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 £447,460

 

 

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

Bolhassan Di, Chairman and CEO

Tel: +60 198 861 919

bolhassan@uplandbigoil.com.my

gerry.murray@upland.energy

 

 

Optiva Securities - Broker

Christian Dennis
(Corporate Broker)

Tel:  +44 (0)20 3137 1903
christian.dennis@optivasecurities.com

www.optivasecurities.com

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
UK 100

Latest directors dealings