Conversion of Convertible Shares

19 February 2018

Frontera Resources Corporation

("Frontera" or "the Company")

Conversion of Convertible Shares 

Frontera Resources Corporation (AIM: FRR), the European focused independent oil and gas exploration and production company, today announces that on 19 February 2018 it received a conversion notice for the month of February 2018 from YA II PN, Ltd. ("YA") to convert 400 Series A Preferred Convertible Shares ("Convertible Shares") out of its outstanding total of 4000 Convertible Shares. Pursuant to the terms of the agreement with YA, conversion will be made at a price of 0.418 pence, which will result in the issue of 68,124,401 new ordinary shares ("New Ordinary Shares") to YA. The agreement with YA contains a limitation of a maximum of 1,300,000,000 ordinary shares ("Ordinary Shares") that YA is entitled to convert before 16 June 2018. Following this conversion, 1,174,028,322 Ordinary Shares out of agreed 1,300,000,000 will have been converted and issued to YA. Accordingly, YA may only convert a further 125,971,678 Ordinary Shares before 16 June 2018.

Application will be made for New Ordinary Shares to be admitted to trading on AIM, which is anticipated to occur on or around 15 January 2018 ("Admission"). The New Ordinary Shares will rank pari passu with the existing Ordinary Shares of the Company.

Following Admission, the Company will have 15,634,875,871 Ordinary Shares in issue with voting rights. The Company does not hold any Ordinary Shares in treasury and accordingly there are no voting rights in respect of any treasury shares. The aforementioned figure of 15,634,875,871 Ordinary Shares 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 disclosure requirements applicable to the Company.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

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