TomCo Energy PLC Drawdown of initial Convertible Loan Note Facility (1313X)
April 24 2023 - 1:00AM
UK Regulatory
TIDMTOM
RNS Number : 1313X
TomCo Energy PLC
24 April 2023
24 April 2023
TOMCO ENERGY PLC
("TomCo" or the "Company")
Drawdown of Tranche One of Convertible Loan Note Facility and
Issue of Associated Warrants
TomCo Energy plc (AIM: TOM), the US operating oil development
group focused on using innovative technology to unlock
unconventional hydrocarbon resources, announces, further to the
Company's announcement of 30 March 2023, that it has served notice
to drawdown the initial GBP250,000 tranche ("Tranche One") of its
GBP1,000,000 Convertible Loan facility, with the funds expected to
be received on or around Wednesday, 26 April 2023.
In accordance with the terms of the facility, the Convertible
Loan subscribers will be issued with, in aggregate, 41,666,667
Warrants by the Company in connection with the drawdown of Tranche
One, exerciseable for a period of three years from the date of
drawdown, with each warrant affording the holder the right to
subscribe for one new Ordinary Share at an exercise price of 0.60
pence per share.
In addition, Novum Securities Limited, the Company's broker,
will be issued 10,000,000 warrants, with each such warrant
affording the right to subscribe for one new Ordinary Share at an
exercise price of 0.60 pence per share for a period of two years
from the date of drawdown of Tranche One.
Unless otherwise defined herein, capitalised terms used in this
announcement shall have the same meanings as defined in the
Company's announcement of 30 March 2023.
Enquiries :
TomCo Energy plc
Malcolm Groat (Chairman) / John Potter (CEO) +44 (0)20 3823 3635
Strand Hanson Limited (Nominated Adviser)
James Harris / Matthew Chandler +44 (0)20 7409 3494
Novum Securities Limited (Broker)
Jon Belliss / Colin Rowbury +44 (0)20 7399 9402
IFC Advisory Limited (Financial PR)
Tim Metcalfe / Florence Chandler +44 (0)20 3934 6630
For further information, please visit www.tomcoenergy.com .
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014 as it forms part of
United Kingdom domestic law by virtue of the European Union
(Withdrawal) Act 2018, as amended by virtue of the Market Abuse
(Amendment) (EU Exit) Regulations 2019.
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END
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