REG - Corcel PLC - Acceleration Clause Triggered on Warrants

CorcelAnnouncement

30/09/2025 07:00

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RNS Number : 3045B  Corcel PLC  30 September 2025

 

The information contained within this announcement is deemed to constitute
inside information as stipulated under the Market Abuse Regulation (EU) No.
596/2014, which is part of UK law by virtue of the European Union (withdrawal)
Act 2018. Upon the publication of this announcement, this inside information
is now considered to be in the public domain.

 

Corcel PLC

("Corcel" or the "Company")

 

Acceleration Clause Triggered on Warrants valued at £3.7 million

 

30 September 2025

 

Corcel Plc (London AIM: CRCL), the Angola-Brazil focused energy company, is
very pleased to announce that, following sustained share price performance, it
has triggered the acceleration clause on the 1,698,125,000 warrants originally
issued in February 2025 (the "Warrants"), 31,250,000 of which have previously
been exercised, as announced on 24 June 2025.

 

Highlights:

 

·    Acceleration of the 1,666,875,000 Warrants, if and once exercised at
their strike price of £0.00225 per share, shall generate net proceeds of
approximately £3,750,000;

 

·   Further strengthens Corcel's balance sheet and fully funds the seismic
program in the company's operated KON-16 block in the Kwanza basin onshore
Angola;

 

·    Reflects continued and growing investor support and confidence in
Corcel's strategy and portfolio.

 

Scott Gilbert Corcel CEO commented: "If fully exercised, these Warrants will
generate nearly £3.8 million. Alongside this, the recently announced
transaction with Sintana Energy Inc. (14 May 2025) will contribute an
additional £1.8 million. Together, these transactions will deliver
approximately £5.6 million, fully funding the company's seismic program in
KON-16 as well as other operational activities across our assets and business
development through to the end of 2026. This positions us strongly as we
prepare for a potential farm-out to drill one of the first onshore exploration
wells in the Kwanza Basin since the 1980s, targeting both post-salt and
pre-salt high impact prospects.

 

We view this acceleration as a pivotal milestone for Corcel: the company is
now significantly stronger financially and well-positioned to enter an
exciting new phase of growth."

 

In accordance with the terms of the Warrant Instrument, as the Company's
ordinary shares have traded at or above £0.003 for 25 consecutive trading
days, Corcel has exercised its right to accelerate the exercise period.
Warrant holders now have until 1 November 2025 to exercise their Warrants,
after which any unexercised Warrants will lapse.

 

For further information, please contact:

 

Scott
Gilbert

Corcel Plc, CEO & Director

Development@Corcelplc.com (mailto:Development@Corcelplc.com)
 

 

James Joyce / James Bavister / Andrew de Andrade

Zeus, NOMAD & Broker

020 3829 5000

 
 

Jonathan Wright / Rupert Holdsworth
Hunt

Auctus Advisors LLP, Joint Broker

07711 627449

 

Patrick d'Ancona
 

Vigo Consulting Limited, IR

0207 3900 230
 

 

About Corcel:

 

Corcel has a notable oil and gas portfolio in onshore Angola that includes
brownfield redevelopment opportunities and significant exploration upside.
Corcel marked a new country entry into Brazil through the option to acquire
rights to producing gas and exploration assets, further diversifying its
portfolio and enhancing its growth potential.

 

Corcel's Angola portfolio consists of interests in three licenses:

 

·      KON - 16 upon completion: operated - 80% working interest - 71.5%
net to CRCL

·      KON - 11 Non-Operated - 20% working interest - 18% net to CRCL

·      KON - 12 Non-Operated - 25% working interest - 22.5% net to CRCL

 

Corcel's Brazil portfolio consists of the option to acquire:

 

·      20% interest in the IRAI gas field

·      Right-of-first refusal ("ROFR") over the remaining 80% in the
IRAI field

·      ROFR for 100% of the adjacent TUC-T-172 exploration block,
located in the state of Bahia, onshore Brazil

 

Corcel's Battery Metals portfolio consists of an 80% working interest in the
Mt Weld Rare Earth Elements project in Western Australia.

 

 

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