Increased Investment in Reveille Resources PLC

Ajax Resources PLC

06 October 2026

 

6 October 2026

AJAX RESOURCES PLC

("Ajax" or the "Company") 

Increased Investment in Reveille Resources PLC

Ajax [AQSE: AJAX], the natural resources investment company, is pleased to announce an increase in its investment in Reveille Resources PLC (“Reveille”), a UK uranium exploration and development company with a primary focus on Italy's largest uranium deposits, whose shares were admitted to trading on the Aquis Growth Market (“Aquis”) on 7 July 2026 (“Admission”).

Ajax, Reveille’s second-largest shareholder, has acquired from Santa Devota S.r.l. (“SD”), a wholly owned and controlled investment company of Reveille’s former Non-Executive Director, Antonio Barani, 2,000,000 ordinary shares of 1 pence each in Reveille (the “Reveille Shares”) and 2,000,000 warrants to subscribe for Reveille Shares, for total consideration of £102,500 (the “Acquisition”).

Following the Acquisition, Ajax will hold 14,000,000 Reveille Shares, representing 17.52% of Reveille’s currently issued share capital. Ippolito Ingo Cattaneo, an Executive Director and shareholder of both Ajax and Reveille, recused himself from Ajax’s Board deliberations and decision in relation to the Acquisition.

Ajax’s 14,000,000 Reveille Shares are valued at £1,015,000, based on Reveille’s closing mid-market share price of 7.25 pence on 5 October 2026. The Acquisition was funded from Ajax’s existing cash resources.

Reveille’s focus is its Novazza and Val Vedello uranium exploration licence applications in Lombardy, Italy (together, the “Lombardy Projects”), both of which are progressing through the Italian environmental impact assessment (VIA) process.

Ajax is Reveille’s second-largest shareholder and has agreed a one-year lock-in, from Admission, over its entire Reveille shareholding, including those resulting from the Acquisition.

In addition to its 14,000,000 Reveille Shares, Ajax holds:

• 5,872,500 warrants exercisable at 5 pence per Reveille share for five years from Admission, exercisable upon either: (i) Reveille’s mid-market closing share price on Aquis reaching at least 10 pence for at least ten consecutive trading days and approval of the VIA applications for both Lombardy Projects; or (ii) Reveille acquiring other assets with an aggregate enterprise value greater than that of the Lombardy Projects; and
• 6,000,000 warrants exercisable at 10 pence per Reveille share for 12 months from Admission, including 2,000,000 resulting from the Acquisition.

Ippolito Ingo Cattaneo, Chief Executive Officer of Ajax Resources, commented:

“We are very encouraged by Reveille’s progress since Admission and by the opportunity its Italian uranium strategy presents for Ajax shareholders. Following the Acquisition, Ajax holds 14,000,000 Reveille Shares which, based on Reveille’s closing mid-market price of 7.25 pence on 5 October 2026, are valued at approximately £1.015 million, more than double the approximately £500,000 Ajax has invested in Reveille, without ascribing any value to Ajax’s warrants to subscribe for further Reveille Shares.

Reveille’s Novazza and Val Vedello projects benefit from extensive historical exploration and development, including historical, non-compliant uranium estimates. Subject to obtaining the relevant environmental approvals, Reveille will be able to test the significant potential of both projects and has the opportunity to become one of Europe’s most exciting uranium exploration stories.

We believe that, as and when Reveille delivers on its objectives, Ajax’s investment will be worth considerably more, providing a further validation of the successful execution of Ajax’s investment strategy.”

For further information: 

Ajax Resources Plc Ippolito Ingo Cattaneo, Chief Executive Officer	Tel: + 44 (0) 208 146 6345 [e-mail]
Allenby Capital Limited (Aquis Corporate Adviser) Nick Harriss / Nick Athanas	Tel: + 44 (0) 203 328 5656 [e-mail]

About Ajax Resources Plc

Ajax Resources Plc is a UK natural resources investment company listed on the Aquis Stock Exchange (AQSE: AJAX). The Company was previously listed on the FCA Official List of the Main Market of the London Stock Exchange as a Special Purpose Acquisition Company (SPAC) before transitioning to its current strategy as an operational natural resources investment vehicle.

Ajax is focused on identifying, acquiring and advancing assets containing copper, gold, silver, zinc, uranium and lead - commodities supported by strong long-term demand fundamentals. The Company's strategy centres on the acquisition and development of assets with historical production, significant untapped or latent potential, and substantial exploration upside, typically secured on highly advantageous terms. Ajax aims to progress these assets through development and into production, with the objective of generating revenue and long-term shareholder value.

 

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