REG - Xtract Resources plc - £1.2m Raised from Disposal of 5m GOS Shares <Origin Href="QuoteRef">XTR.L</Origin>

Xtract ResourcesAnnouncement

06/09/2014 14:36

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RNS Number : 9160L
Xtract Resources plc
10 July 2014 
 
10 July 2014 
 
Xtract Resources Plc 
 
("Xtract" or the "Company") 
 
Xtract raises £1.2 million through disposal of 5 million GOS shares 
 
Xtract Resources Plc (AIM: XTR) has sold 5 million shares in Global Oil Shale
Group Limited ('GOS') at 23.77 pence per share, for a total consideration of
£1,188,679. 
 
Xtract was initially issued 6,000,000 shares in GOS at a subscription price of
12p, in December 2012, as part of the disposal of the Julia Creek oil shale
tenements in Queensland, Australia with an additional 1,371,365 in December
2013 at 40p.  Xtract therefore retains a total of 2,371,365 shares and as per
the agreement would be allotted a further 1,500,000 shares immediately prior
to a listing of GOS shares on a stock exchange or market. 
 
Jan Nelson, CEO commented: "The opportunity arose for Xtract to sell 5 million
shares, which immediately provides the Company with an additional £1.2 million
without diluting shareholders.  This strengthens our cash position as we
continue to develop and grow Chépica and evaluate the opportunities at
Mejillones." 
 
Enquiries: 
 
 Xtract Resources Plc           Jan Nelson, CEO             +44 (0)20 3416 6471                     
 Cenkos Securities Plc          Beth McKiernanAlan Stewart  +44 (0)20 7397 8900+44 (0)131 220 6939  
 Gable Communications           Justine James               +44 (0)20 7193 7463+44 (0) 7525 324431  
 St James's Corporate Services  Phil Dexter                 +44 (0)20 7796 8647                     
 
 
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