PATH.L Regulatory News (PATH)

26 February 2021

Path Investments plc

("Path" or the "Company")

Equity Fundraise Update

Path Investments plc (TIDM: PATH), the energy and natural resources investment company, is pleased to announce that further to the announcement of the Company's conditional £3.5 million fundraise on 19 February 2021, it has conditionally raised (before expenses) an additional £350,000 in order to satisfy certain demand from existing shareholders (the "Subscription").

The Subscription is on the same terms as the previously announced Fundraise and is for 140,000,000 new ordinary shares of 0.1 pence each in the Company ("Ordinary Shares") (the "Subscription Shares") at a price of 0.25 pence per Ordinary Share. In addition, participants in the Subscription will be issued with one warrant for every two Subscription Shares subscribed for with an exercise price of 0.25 pence per Ordinary Share and one warrant for every two Subscription Shares subscribed for with an exercise price of 0.5 pence per Ordinary Share (the "Warrants"). The Warrants will have a five-year exercise period from the date of grant.

The Subscription and the previously announced £3.5 million Fundraise are conditional on the publication of a prospectus and admission of the Subscription and Placing Shares to trading on the Standard Segment of the Official List and the Main Market of the London Stock Exchange ("Admission"). The prospectus is currently being prepared and will be published following the grant of the required Financial Conduct Authority ("FCA") approval. In the interim, the Company's existing issued shares shall continue to trade and the expected date of Admission will be announced in due course.

Capitalised terms not otherwise defined in this announcement have the same meaning as in the Company's announcement on 19 February 2021.

Commenting, Christopher Theis CEO of Path, said: "Following the announcement of our £3.5 million fundraise we were made aware of demand from certain significant existing shareholders that had not been accommodated already. We are therefore pleased to increase the overall size of the fundraise in order to accommodate them and raise further funds to help facilitate our search for acquisition opportunities in line with our investment strategy. We look forward to concluding the prospectus approval process in the coming weeks and I look forward to providing further updates in due course."

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

For further information please contact: