Corpus Resources PLC Regulatory News (COR)

11 February 2025

Corpus Resources Plc

("Corpus" or the "Company")

Placing

Corpus Resources Plc (LSE: COR), announces that it has raised £99,000, before expenses, through a placing of 659,999,997 new ordinary shares of 0.01p each ("Ordinary Shares") in the Company ("Placing Shares") at a price of 0.015 pence per new Ordinary Share (the "Issue Price") (the "Placing"). The Placing Shares each have an attaching grant of warrants ("Warrants") on a one-for-one basis, exercisable subject to the publication of a prospectus, at a price of 0.05 pence per ordinary share, with the Warrants expiring on the third anniversary of the admission to trading date of the Placing Shares.

The Placing Shares will represent approximately 35 per cent. of the Company's enlarged issued share capital following the Placing. The Issue Price represents a discount of approximately 33 per cent. to the current mid-market price of 0.0225 pence per Ordinary Share.

The net proceeds of the Placing will be used for working capital and to progress reverse takeover efforts. Further announcements will be made by the Company in due course as appropriate.

Following Admission of the Placing Shares, the Company's issued ordinary share capital will comprise 1,892,973,462 ordinary shares. Therefore, following Admission the total number of ordinary shares with voting rights in the Company will be 1,892,973,462 which may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

The Company is currently unable to admit the entirety of the Placing Shares without either the publication of a prospectus or relying upon an exemption to the requirement to issue a prospectus. Consequently, the Placing involves a subscription by Richard Glass, a director of Corpus, for 413,405,304 Ordinary Shares in the Company, at the Placing Price being 0.015 pence per Ordinary Share. Following Admission, Mr Glass has agreed to immediately sell these 413,405,304 Ordinary Shares, at the Placing Price, to certain investors introduced by Peterhouse.

For further information please contact: