19 Sep 2012 07:00
FRONTERA RESOURCES CORPORATION
("Frontera" or the "Company")
Houston, Texas, U.S.A. - 19 September 2012
FINANCING UPDATE
Frontera Resources Corporation (London Stock Exchange, AIM Market, FRR), the oil and gas exploration and production company with assets in the country of Georgia, today announces the successful raising of £624,804 GBP through a drawdown from its previously announced SEDA facility with YA Global Master SPV.
The SEDA drawdown has been undertaken at a price of 0.49875 pence per share, and will result in the issue of 125,273,985 new ordinary shares of US$0.00004 each in the Company ("New Ordinary Shares"). This funding will be used to advance work programs of the Company.
Application has been made for the New Ordinary Shares to be admitted to trading on AIM, which is anticipated to occur on 25 September 2012 ("Admission"). The New Ordinary Shares will rank pari passu with the Company's existing issued ordinary shares.
Following Admission, the enlarged issued share capital of the Company will be 2,298,833,631 ordinary shares.
Enquiries:
Frontera Resources Corporation
Liz Williamson
Vice President, Investor Relations and Corporate Communications
(713) 585-3216
lwilliamson@fronteraresources.com
Nominated Adviser and Joint Broker:
finnCap Limited
Matt Goode / Chris Raggett
+44 (0) 20 7220 0500
Joint Broker:
Cornhill Capital Limited
Nick Bealer / Stefan Olivier
+44 (0)20 7710 9610
Financial PR:
Buchanan
Tim Thompson / Ben Romney
+44 (0)20 7466 5000
timt@buchanan.uk.com
Notes to Editors:
About Frontera Resources Corporation
1. Frontera Resources Corporation is an independent Houston, Texas, U.S.A.-based international oil and gas exploration and production company whose strategy is to identify opportunities and operate in emerging markets in Eastern Europe around the Black Sea. Frontera currently operates in the country of Georgia where it holds a 100 percent working interest in a production sharing agreement with the government of Georgia. This gives Frontera the exclusive right to explore for, develop and produce oil and gas from a 5,060 square kilometer area in eastern Georgia known as Block 12. Frontera Resources Corporation shares are traded on the London Stock Exchange, AIM Market - Symbol: FRR. For more information, please visit www.fronteraresources.com .
2. This release may contain certain forward-looking statements, including, without limitation, expectations, beliefs, plans and objectives regarding the transactions, work programs and other matters discussed in this release. Exploration for oil is a speculative business that involves a high degree of risk. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are: risks inherent in oil and gas production operations; availability and performance of needed equipment and personnel; the Company's ability to raise capital to fund its exploration and development programs; seismic data; evaluation of logs, cores and other data from wells drilled; inherent uncertainty in estimation of oil and gas resources; fluctuations in oil and gas prices; weather conditions; general economic conditions; the political situation in Georgia and relations with neighboring countries; and other factors listed in Frontera's financial reports, which are available at www.fronteraresources.com. There is no assurance that Frontera's expectations will be realized, and actual results may differ materially from those expressed in the forward-looking statements