Mayan Energy Limited Issue of Equity (2116I)

TIDMMYN

RNS Number : 2116I

Mayan Energy Limited

19 March 2018

Mayan Energy Ltd / Index: AIM / Epic: MYN/ ISIN: VGG6622A1057 / Sector: Oil and Gas

19 March 2018

Mayan Energy Ltd ("Mayan" or "the Company")

Exercise of Warrants

The Company announces that it has received notice of the exercise of warrants to subscribe for, and accordingly issued, a total of 833,333 new ordinary shares in the Company (the "New Ordinary Shares"). The exercise price of the warrants was 0.3 pence. The Company has received GBP2,500 in respect of this exercise.

Application has been made for these New Ordinary Shares to be admitted to trading on AIM and it is anticipated that trading in such shares will commence on or around 21 March 2018.

Following Admission, the Company's enlarged issued share capital will comprise 1,167,169,264 ordinary shares. The Company does not hold any shares in treasury. This figure of 1,167,169,264 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.

**ENDS**

For further information visit www.Mayan energy.com or contact the following:

 
                                         + 1 469 394 
 Eddie Gonzalez    Mayan Energy Ltd       2008 
                                         [phone] 
 Charlie Wood      Mayan Energy Ltd       326 
                   Beaumont Cornish      [phone] 
 Roland Cornish     Ltd                   3396 
                   Beaumont Cornish      [phone] 
 James Biddle       Ltd                   3396 
                   Cornhill Capital      [phone] 
 Nick Bealer        Limited               9612 
                   St Brides Partners    [phone] 
 Frank Buhagiar     Limited               1177 
                   St Brides Partners    [phone] 
 Gaby Jenner        Limited               1177 
 

Notes:

Mayan Energy Limited is an AIM listed (London Stock Exchange) North American based energy Company. The Company is actively pursuing a primary recovery oil strategy focused on re-stimulating wells within mature producing basins with immediate cash flow leveraging commercially available technologies and projects that are shallow, low risk with low levels of capex and infrastructure already in place. It also remains interested in creating shareholder value by strategic investments in similar projects with high cash generative potential and by forming beneficial development partnerships that enable the use of pioneering and leading extraction technologies. The Company is currently primarily focussed on building out production at its Stockdale and Forest Hill oil fields in Texas.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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March 20, 2018 03:00 ET (07:00 GMT)