XTRACT RESOURCES PLC — Share Issue/Capital Change 2021

Feb 2, 2021

National Storage Mechanism | Additional information

RNS Number : 7593N

Xtract Resources plc

02 February 2021

For immediate release

2 February 2021

Xtract Resources Plc

("Xtract" or the "Company")

Issue of Equity

Xtract announces that it has received notice to exercise warrants over 2,000,000 ordinary shares of 0.02p each in the Company ("Ordinary Shares") at an exercise price of 1.85p per Ordinary Share. Accordingly, the Company has issued, 2,000,000 new Ordinary Shares in settlement of this exercise ("Warrant Exercise Shares").The Company has also agreed to settle a corporate creditor through the issuance 2,103,152 new ordinary shares at an issue price of 5.03p per ordinary share ("Settlement Shares").

The Warrant Exercise Shares and the Settlement Shares (together the "New Ordinary Shares") will rank pari passu with the existing Ordinary Shares and application is being made for in aggregate 4,103,152 New Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and dealings in the New Ordinary Shares will commence at 8.00 a.m. on 8 February 2021.

Following Admission, the Company will have 735,679,407 ordinary shares in issue with voting rights. Xtract does not currently hold any shares in treasury. Accordingly, this figure of 735,679,407 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

Enquiries:

Xtract Resources Plc	Colin Bird, Executive Chairman	+44 (0)20 3416 6471 www.xtractresources.com
Beaumont Cornish Limited Nominated Adviser and Joint Broker	Roland Cornish Michael Cornish Felicity Geidt	+44 (0)207628 3369 www.beaumontcornish.co.uk
Novum Securities Limited Joint Broker	Jon Belliss Colin Rowbury	+44 (0)207 399 9427 www.novumsecurities.com

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