31 May 2018 10:22
Mayan Energy Ltd / Index: AIM / Epic: MYN/ ISIN: VGG6622A1057 / Sector: Oil and Gas
31 May 2018
Mayan Energy Ltd ("Mayan" or "the Company")
Exercise of Warrants
Mayan Energy, the AIM listed oil and gas company, announces that pursuant to the receipt of exercise notices for a total of 44,100,000 options, it is issuing 44,100,000 new ordinary shares in the Company (the "New Ordinary Shares"). The exercise price of the warrants was 0.3 pence for 36,575,000 warrants and 0.6 pence for 7,525,000 warrants. The option and the warrant exercise raised £154,875, with the proceeds being utilised for additional working capital.
Application has been made for these New Ordinary Shares to be admitted to trading on AIM and it is anticipated that trading in such shares will commence on or around 6 June 2018 ("Admission").
Following Admission, the Company's enlarged issued share capital will comprise 1,222,935,930 ordinary shares. The Company does not hold any shares in treasury. This figure of 1,222,935,930 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
**ENDS**
For further information visit www.Mayan energy.com or contact the following:
Eddie Gonzalez | Mayan Energy Ltd | + 1 469 394 2008 |
Charlie Wood | Mayan Energy Ltd | +44 7971 444 326 |
Roland Cornish | Beaumont Cornish Ltd | +44 20 7628 3396 |
James Biddle | Beaumont Cornish Ltd | +44 20 7628 3396 |
Nick Bealer | Cornhill Capital Limited | +44 20 7710 9612 |
Frank Buhagiar | St Brides Partners Limited | +44 20 7236 1177 |
Gaby Jenner | St Brides Partners Limited | +44 20 7236 1177 |
Notes:
Mayan Energy Limited is an AIM listed (London Stock Exchange) North American based energy Company. The Company is actively pursuing a primary recovery oil strategy focused on re-stimulating wells within mature producing basins with immediate cash flow leveraging commercially available technologies and projects that are shallow, low risk with low levels of capex and infrastructure already in place. It also remains interested in creating shareholder value by strategic investments in similar projects with high cash generative potential and by forming beneficial development partnerships that enable the use of pioneering and leading extraction technologies. The Company is currently primarily focussed on building out production at its Stockdale and Forest Hill oil fields in Texas.