Warrant Exercise – Big Oil Ventures

Upland Resources Limited

21 September 2023

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN

This announcement is not an offer for sale, or a solicitation of an offer to acquire, securities in any jurisdiction, including in or into the United States, Canada, Australia, or Japan.  Neither this announcement nor any part of it shall form the basis of or be relied on in connection with or act as an inducement to enter into any contract or commitment whatsoever.

21 September 2023

UPLAND RESOURCES LIMITED

("Upland" or the "Company")

Exercise of Warrants - Big Oil Ventures

Upland Resources Limited (LSE: UPL) is pleased to announce that it has received an exercise notice from its partner in Sarawak, Big Oil Ventures SDN BHD, to exercise 6,888,888 warrants that were issued in conjunction with the Company's prospectus published on 23 February 2023.

This warrant exercise has raised gross proceeds of £82,666.65.

Bolhassan Di, Upland Chairman and CEO commented:

"We are very pleased to see our partners increasing their shareholding in Upland Resources. We regard this as a strong validation of our progress to date in Sarawak."

Admission

An application has been made for the admission of 6,888,888 new Ordinary Shares to the Official List (standard listing segment) and to trading on the London Stock Exchange's Main Market, which is expected to occur on 29 September 2023.

Total voting rights

Following the Warrant Exercise, the Company's total number of Ordinary Shares in issue will be 1,108,157,741. This figure may be used by shareholders as the denominator for the calculation to determine if they are required to notify the Company of their interest in, or a change to their interest in, the Company's securities in accordance with the FCA's Disclosure and Transparency Rules.

**ENDS**

For further information, please contact:

Upland Resources Limited Bolhassan Di, Chairman and CEO	Tel: [phone] [e-mail] [e-mail]
Optiva Securities - Broker Christian Dennis (Corporate Broker)	Tel:  [phone] [e-mail] www.optivasecurities.com

 

END