THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS
RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN
WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE
UNITED STATES OF AMERICA, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND OR
THE REPUBLIC OF SOUTH AFRICA, NOR IS IT TO BE TRANSMITTED OR
DISTRIBUTED TO, OR SENT BY, ANY NATIONAL OR RESIDENT OR CITIZEN OF
ANY SUCH COUNTRIES OR OF ANY OTHER JURISDICTION IN WHICH SUCH
RELEASE, PUBLICATION OR DISTRIBUTION MAY CONTRAVENE LOCAL
SECURITIES LAWS OR REGULATIONS.
THIS ANNOUNCEMENT DOES NOT ITSELF CONSTITUTE AN OFFER TO BUY,
ACQUIRE OR SUBSCRIBE FOR (OR THE SOLICITATION OF AN OFFER TO BUY,
ACQUIRE OR SUBSCRIBE FOR) ORDINARY SHARES OR CONVERTIBLE BONDS TO
ANY PERSON. IN PARTICULAR, THIS ANNOUNCEMENT, DOES NOT
CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION OR OFFER TO ANY
PERSON WITH A REGISTERED ADDRESS IN, LOCATED IN, OR WHO IS A
RESIDENT OF, THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, NEW
ZEALAND, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN
WHICH SUCH INVITATION, SOLICITATION OR OFFER WOULD BE UNLAWFUL OR
CONTRAVENE ANY REGISTRATION OR QUALIFICATION REQUIREMENTS UNDER THE
SECURITIES LAWS OF ANY SUCH JURISDICTION.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF THE MARKET ABUSE REGULATION (596/2014/EU) AS IT FORMS PART OF UK
DOMESTIC LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018,
AS AMENDED ("UK MAR").
26
February 2025
Pantheon Resources
plc
Potential upsize of
Convertible Bond to US$35 million
Pantheon Resources
plc ("Pantheon" or the
"Company"), the AIM-quoted
oil and gas exploration company with 100% working interests in
certain projects located adjacent to transportation and pipeline
infrastructure on the Alaska North Slope, announced on 20 February
2025 that it had agreed to issue between US$30.5 million and US$35
million in aggregate principal amount of senior convertible bonds
due March 2028 (the "Convertible Bonds") to Sun Hung Kai & Co.
Limited and its affiliates, clients and funds managed or advised by
them (the "Convertible
Bond Investor"), as the
lead investor to the Convertible Bonds.
Further to that announcement
Pantheon has today granted the Convertible Bond Investor the sole
right to increase the aggregate amount of the Convertible Bonds to
US$35 million, exercisable prior to 5pm on 28 February 2025.
A further announcement will be made should the Convertible Bond
Investor make this election or otherwise the sole right will be
deemed to have automatically lapsed. All other terms of the
Convertible Bonds as announced on 20 February 2025 remain
unchanged. Any increased amount received under the Convertible
Bonds will be used for working capital, expenses and
G&A.
David Hobbs, Chairman of Pantheon Resources,
said:
"Today's announcement shortens the period of uncertainty about
the total size of the Convertible Bond and allows us to fully focus
on the start of flow testing in the Megrez-1
well."
Further information:
UK
Corporate and Investor Relations Contact
Pantheon Resources plc
Justin Hondris
+44 20 7484 5361
contact@pantheonresources.com
Nominated Adviser and Broker
Canaccord Genuity Limited
Henry Fitzgerald-O'Connor, James Asensio, Charlie Hammond
+44 20 7523 8000
Public Relations Contact
BlytheRay
Tim Blythe, Megan Ray, Matthew Bowld
+44 20 7138 3204
USA
Investor Relations Contact
MZ Group
Lucas Zimmerman, Ian Scargill
+1 949 259 4987
PTHRF@mzgroup.us
IMPORTANT
INFORMATION
This Announcement is released by
Pantheon Resources plc and contains inside information for the
purposes of Article 7 of UK MAR. It is disclosed in accordance with
the Group's obligations under Article 17 of UK MAR.
Neither the content of the Company's
website nor any website accessible by hyperlinks on the Company's
website is incorporated in, or forms part of, this
Announcement.
