I3 ENERGY PLC

M&A Activity • Sep 4, 2020

National Storage Mechanism | Additional information

RNS Number : 0111Y

i3 Energy PLC

04 September 2020

i3 Energy plc

("i3" or the "Company")

Completion of Gain Acquisition and Harvard Sale

i3 Energy plc is pleased to announce that, following the completion of the re-admission as set out in the announcement of 11th August 2020, the Company has now completed the acquisition of all the petroleum and infrastructure assets of Gain Energy Ltd for CAD$80 million (c.US$58.8 million). The Company has also completed the sale of such petroleum and infrastructure assets held by Gain Energy Ltd which are located in Saskatchewan, to Harvard Resources Inc for CAD$45 million (cUS$33 million).

Capitalised terms used in this announcement have the meanings given to them in the announcement made and admission document published on 11th August 2020 unless the context provides otherwise.

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
Mirabaud Securities Limited (Joint Broker) Peter Krens	Tel: +44 (0) 203 167 7221
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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