REG - 80 Mile PLC - Advisor Exercise of Warrants

80 MileAnnouncement

Tue 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260303:nRSC0217Va&default-theme=true

RNS Number : 0217V  80 Mile PLC  03 March 2026

3 March 2026

 

80 Mile plc

 

("80 Mile", the "Company" or the "Group")

 

Advisor Exercise of Warrants

 

80 Mile PLC ("80 Mile" or the "Company"), the AIM, FSE, and OTC listed
exploration and development company with projects in Greenland, Finland and
Italy advises that it has issued 2,500,000 new ordinary shares of 0.01p par
value ("Ordinary Shares"), further details as follows:

 Number of Warrants  Exercise Price
 2,500,000           0.30p

 

Application has been made for the 2,500,000 new Ordinary Shares, which rank
pari passu with the existing Ordinary Shares in issue, to be admitted to
trading on AIM ("Admission"). It is expected that Admission will become
effective and dealings will occur at 8:00am UK time on or around 9 March 2026.

Following Admission and for the purposes of the Disclosure Guidance and
Transparency Rules, the Company will have 5,009,062,696 Ordinary Shares in
issue of which 4,805,505,678 have voting rights. Shareholders may use this
figure 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 issued share capital of the Company.

 

For further information please visit http://www.80mile.com
(http://www.80mile.com/)  or contact:

 Investor Relations                                80 Mile plc                          enquiry@80mile.com
 Ewan Leggat / Devik Mehta                         SP Angel Corporate Finance LLP       +44 (0) 20 3470 0470

(Nominated Adviser and Broker)
 Harry Ansell / Katy Mitchell / Andrew de Andrade  Zeus Capital Limited (Joint Broker)  +44 (0) 20 3829 5000
 Megan Ray / Said Izagaren                         BlytheRay                            +44 (0) 20 7138 3204

(Media Contact)

                                                                                        80mile@blytheray.com (mailto:80mile@blytheray.com)

 

About 80 Mile Plc:

 

80 Mile Plc is listed on London's AIM market under the ticker 80M, the
Frankfurt Stock Exchange under the symbol S5WA, and traded on the U.S. OTC
Market under the ticker BLLYF. 80M is an exploration and development company
focused on Hydrocarbons and High-Grade Critical Metal projects in Greenland
and an industrial gas and biofuels business in Italy. 80 Mile offers both
portfolio and commodity diversification focused on hydrocarbons, base and
precious metals, while expanding into sustainable fuels and clean energy
solutions in Tier 1 jurisdictions. 80 Mile's strategy is centred on advancing
key projects while creating value through partnerships and strategic
acquisitions.

80 Mile's Jameson Project covers 8,429km² across three licences in East
Greenland and represents one of the world's largest remaining untapped gas and
liquids-rich basins. An independent 2025 assessment by Sproule ERCE estimated
the basin contains 13.03 billion barrels (P10) of recoverable oil, with 80
Mile's retained interest equating to 3.9 billion barrels valued at
approximately US$92 million (based on the listing price of GLND). More than
US$275 million has been invested historically by major energy companies and
government institutions. In 2025, a milestone agreement with March GL (to be
renamed Greenland Energy Co, NASDAQ: GLND) enabled plans for two fully funded
3,500-metre drill holes in the second half of 2026, after which GLND will earn
a 70% interest in the Jameson Project, leaving 80 Mile with 30%.

The Disko-Nuussuaq Project, located in West Greenland, covering a
district-scale 3,020km² area. Disko is recognised as a world-class geological
setting for copper, nickel, cobalt and PGEs, with potential for a Tier-1
nickel-copper discovery analogous to Siberia's Norilsk Nickel District. The
project features multiple walk-up drill targets and which includes seven
large, high-priority geophysical anomalies. In late 2025, the company entered
into a JV agreement with USFM Corporation under which USFM will fund US$30
million in drilling-related expenditure, including US$10 million in
spring/summer 2026, to accelerate drilling and resource definition at Disko.
The funding structure will allow 80 Mile to retain operational leadership
during the project's critical early stages.

The Dundas Project, located on Greenland's northwest coast, is recognised by
independent bodies as the world's highest-grade ilmenite project and the
second-largest titanium occurrence globally after Russia. The area hosts
high-purity ilmenite, the primary mineral for titanium. Dundas has a
JORC-compliant Mineral Resource of 117 million tonnes at 6.1% ilmenite, with
further upside highlighted by a late-2024 maiden exploration target of up to
540 million tonnes of additional ilmenite-bearing material. A recent survey by
Geological Survey of Denmark and Greenland further impresses on the
prospectivity of the area with an estimate of up to 17 billion tonnes
(non-JORC) of pure ilmenite within the broader province. With a completed
bankable feasibility study and all exploitation permits in place, the project
is positioned as a major near-term revenue opportunity for 80 Mile as the
company seeks development partners.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCJTMMTMTIMTTF



            Copyright 2019 Regulatory News Service, all rights reserved