Discussions with Amur Minerals Corporation

Ascent Resources PLC

08 August 2023

 

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (MAR), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

8 August 2023

                Ascent Resources plc

Discussions with Amur Minerals Corporation

Ascent Resources Plc ("Ascent" or, the "Company"), the European and Latin American focused natural resources company, notes Amur Minerals Corporation ("Amur") announcement this morning, regarding the cessations of discussions regarding the non-binding indicative proposal of a possible share offer for the entire issued and to be issued share capital of Amur by Ascent. Ascent is surprised and disappointed with this announcement given the last communication between the parties was three weeks ago with Ascent confirming its forward process and timetables to achieve the possible combination, following which Ascent has been waiting for the Amur board to engage further on the proposal. Given that Ascent is expecting imminently the result of its €3.5M+ arbitration claim against its JV partner in Slovenia, Ascent still believes that a combination of the two companies would be in the interest of both shareholder groups. Accordingly, Ascent is exploring the possibility to put forward a binding offer to the shareholders for the the issued and to be issued share capital of Amur.

Enquiries:

Ascent Resources plc Andrew Dennan		Via Vigo Communications
WH Ireland, Nominated Adviser & Broker James Joyce / Sarah Mather		0207 220 1666
Novum Securities, Joint Broker Jon Belliss		0207 399 9400

Important notices

WH Ireland Limited, which is regulated by the Financial Conduct Authority in the United Kingdom, is acting exclusively for Ascent Resources Plc and no one else in connection with the matters referred to in this announcement and will not be responsible to anyone other than Ascent Resources Plc for providing the protections afforded to clients of WH Ireland, or for providing advice in relation to the matters referred to in this announcement.

 

END