REG - Corcel PLC - Corcel raises £3m to support strategic activity

CorcelAnnouncement

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RNS Number : 5464K  Corcel PLC  08 December 2025

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Corcel PLC

("Corcel" or the "Company")

 

Corcel raises £3 million to support strategic activity on multiple fronts

 

8 December 2025

 

Corcel Plc (London AIM: CRCL), the Angola-Brazil-focused energy company, is
pleased to announce that it has raised £3 million by way of an equity placing
at £0.0035 per share, in line with the Company's 15-day volume-weighted
average price.

 

The fundraising was conducted by Auctus Advisors and comprises two highly
experienced new shareholders who, between them, bring decades of institutional
investment experience and deep expertise in global capital markets. Their
participation and leadership in the placing reflect strong conviction in the
Company's strategy and long-term potential.

 

Scott Gilbert, Corcel's CEO, commented: "I am delighted to welcome our two new
shareholders to Corcel. Their support provides us with additional strength and
optionality as we enter a pivotal phase for the Company. Operations are now
underway on our 2D seismic programme at KON-16, and we continue to advance
multiple workstreams as we pursue growth opportunities both in Angola and
internationally across the E&P life cycle. With a busy operational
schedule ahead, 2026 is set to be a transformative year for Corcel, with
several key milestones expected to drive substantial growth in shareholder
value."

 

Fundraising:

The Company will issue 857,142,858 new ordinary shares of £0.0001 each
("Placing Shares") at a price of £0.0035 per share to raise £3 million
before expenses.

Application will be made for the  Placing Shares to be admitted ("Admission")
to trading on AIM and it is expected that Admission will occur on or around 11
December 2025

Following Admission, the Company's total issued share capital will consist
of 8,515,475,996 Ordinary Shares, with one voting right per Ordinary Share.
The Company does not hold any Ordinary Shares in treasury.  This figure 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 pursuant
to the FCA's Disclosure Guidance and Transparency Rules.

For further information, please contact:

 

Scott
Gilbert

Corcel Plc, CEO & Director

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

 

Melissa Byeon
 

Corcel Plc, Public Relations Officer

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
 

 

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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