REG - 80 Mile PLC - Advisor Exercise of Warrants

80 MileAnnouncement

05/02/2026 12:45

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RNS Number : 9261R  80 Mile PLC  05 February 2026

5 February 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 80 Mile plc advises that it has issued 10,000,000 ordinary shares of
0.01p par value ("Ordinary Shares") representing 0.2% of the Company's current
issued share capital, following the exercise of warrants by advisors of the
Company. Details are as follows:

 Number of Warrants  Exercise Price
 10,000,000          0.27p

 

Application has been made for the 10,000,000 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 10 February 2026.

Following Admission and for the purposes of the Disclosure Guidance and
Transparency Rules, the Company will have 5,006,562,696 Ordinary Shares in
issue. 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 a 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.

 

Forward-Looking Statements

This press release includes forward-looking statements that involve risks and
uncertainties. Forward-looking statements are statements that are not
historical facts. Such forward-looking statements, including with respect to
the initial public offering, are subject to risks and uncertainties, which
could cause actual results to differ from the forward-looking statements. No
assurance can be given that the initial public offering will be completed on
the terms described, or at all, or that the net proceeds of the offering will
be used as described in the offering prospectus. The Company expressly
disclaims any obligations or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein to reflect any
change in the Company's expectations with respect thereto or any change in
events, conditions or circumstances on which any statement is based.

 

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