I3 ENERGY PLC

Share Issue/Capital Change • Jan 11, 2021

National Storage Mechanism | Additional information

RNS Number : 1617L

i3 Energy PLC

11 January 2021

11 January 2021

i3 Energy plc

("i3" or the "Company")

Employee Options Issuance

i3 Energy plc, an independent oil and gas company with assets and operations in the UK and Canada, announces that it has issued options over a total of 13,166,358 ordinary shares ("Options") to key staff that joined its Canadian subsidiary, i3 Energy Canada Ltd., following the acquisition of Gain Energy Limited's oil & gas assets. The options have been issued in accordance with the rules of the Company's Employee Share Option Plan and will have an exercise price of £0.061 per share, the closing price on 8 January 2021.

The Options will vest as follows:

·      One-third immediately;

·      One-third if July 2021 production exits at or above 9,000 boepd; and

·      100 per cent. upon the addition of 5,000 boepd or 25 MMboe 2P reserves.

Following this announcement there is no change to the Company's issued ordinary shares (700,054,815 ordinary shares of £0.0001 each). Shareholders may use this figure of ordinary shares as the denominator by which they are required to notify their interest in, or change to their interest in, the Company under the Disclosure Guidance and Transparency Rules.

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ENDS

CONTACT DETAILS:

i3 Energy plc
Majid Shafiq (CEO) / Graham Heath (CFO)	c/o Camarco Tel: +44 (0) 203 781 8331
WH Ireland Limited (Nomad and Joint Broker)
James Joyce, James Sinclair-Ford	Tel: +44 (0) 207 220 1666
Canaccord Genuity Limited (Joint Broker) Henry Fitzgerald- O'Connor, James Asensio	Tel: +44 (0) 207 523 8000
Tennyson Securities  (Joint Broker) Peter Krens	Tel: +44 (0) 207 186 9030
Camarco Georgia Edmonds, James Crothers	Tel: +44 (0) 203 781 8331

The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014.

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