CHAL.L Regulatory News (CHAL)

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For Immediate Release

30 August 2018

Challenger Acquisitions Limited

("Challenger" or the "Company")

Reduction in Convertible Notes by £544,000

Challenger Acquisitions Limited (LSE: CHAL) announces that it has executed a Convertible Note Purchase Agreement ("Agreement") with two existing and independent convertible note holders as follows:

· Prior to signing this Agreement, the last remaining holder of the original 6 May 2015 convertible notes held £639,556 of convertible notes and had received 12% interest up to 31 December 2016.

· This note holder has agreed to transfer £95,000 of these convertible notes to another existing note holder and to transfer, at no cost, the remaining £544,556 (£639,556 less £95,000) of notes back to the Company.

· This note holder has also agreed to forgive all interest owing from 1 January 2017 to closing of this transfer, which approximates £115,000.

· The Company has therefore cancelled the £544,556 in notes received and will record a gain on this transaction and the related interest savings.

Mark Gustafson, Challenger's Chief Executive Officer, said, "This reduction in the overall debt level and the related interest savings has been a very important development for Challenger in order to move the Company forward. We wish to thank the original note holder for their support."

This announcement contains inside information.

**ENDS**

For more information visit www.challengeracquisitions.com or enquire to: