Frontera Resources Corporation SEDA Draw Down and Issue of Equity (9196N)
November 01 2016 - 2:00AM
UK Regulatory
TIDMFRR
RNS Number : 9196N
Frontera Resources Corporation
01 November 2016
SEDA Draw Down and Issue of Equity
Houston, Texas, U.S.A. - 1 November 2016
Frontera Resources Corporation
("Company")
SEDA Draw Down and Issue of Equity
Frontera Resources Corporation (AIM: FRR), an independent oil
and gas exploration and production company, today announces that it
has drawn down on its previously announced Standby Equity
Distribution Agreement ("SEDA") with YA II PN, Ltd. (formerly as YA
Global Master SPV Ltd.) in the amount of GBP382,550.00 (the "Draw
Down"). The Draw Down has been undertaken at a price of GBP0.000950
per share in accordance with the terms of the SEDA, and will result
in the issue of 402,684,211 new ordinary shares of US$0.00004 each
in the Company ("New Ordinary Shares"). The funds will be used to
advance work programs of the Company.
Application will be made for the New Ordinary Shares to be
admitted to trading on AIM, which is anticipated to occur on 4
November 2016 ("Admission"). The New Ordinary Shares will rank pari
passu with existing ordinary shares of the Company.
Following Admission, the Company will have 8,350,082,209
ordinary shares in issue with voting rights. The Company does not
hold any ordinary shares in treasury and accordingly there are no
voting rights in respect of any treasury shares. The aforementioned
figure of 8,350,082,209 ordinary shares may be used by shareholders
as the denominator for the calculations by which they will
determine if they are required to notify their interest in, or a
change to their interest in, the Company, under the disclosure
requirements applicable to the Company.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
Enquiries:
Frontera Resources Corporation
Jesse Jefferies
+1 (713) 585-3216
info@fronteraresources.com
Financial PR/IR:
Abchurch
George Robinson / Rebecca Clube
+44 (0) 20 7398 7700
fronterainfo@abchurch-group.com
Nominated Adviser
Cairn Financial Advisers LLP
+44 (0) 20 7213 0880
Jo Turner/ Liam Murray
Broker
Cornhill Capital Limited
Nick Bealer
+44 (0) 207 710 9610
This information is provided by RNS
The company news service from the London Stock Exchange
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