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Key Highlights:
· £1.25 million raised before expenses via the placing of 694,444,444 new Ordinary Shares at 0.18 pence per share.
· Proceeds to fund exploration activities at the Gorge Project, advance the next phase of Juno drilling campaign anticipated in early 2026, support PEL 94 (Namibia) farm-out and related transaction activities, and provide general working capital.
· Fundraise completed to support the maiden drilling programme at Juno and recent encouraging exploration progress at the Gorge Project.
GEO Exploration Limited (LSE AIM: GEO) is pleased to announce that it has successfully completed a capital raise (the "Fundraise"), raising £1.25 million before expenses through the placing of 694,444,444 new Ordinary Shares at a price of 0.18 pence per share. Today's Issue Price represents a 21.7% discount to the closing bid price of 0.23 pence per share on 15 December 2025.
The Fundraise was met with strong demand from investors reflecting growing confidence in the Company's strategy and technical progress. Investor support follows the successful completion of GEO's maiden drilling programme at the Juno Project and recent encouraging exploration developments at the Gorge Project, which together mark important milestones as the Company advances its exploration portfolio across Australia.
The net proceeds of the Fundraise will be applied towards ongoing and planned exploration activities at the Gorge Project, funding a follow-on drilling campaign at the Juno Project anticipated in early 2026, providing sufficient working capital to support the Company's expanding operational and corporate requirements, and capitalising on opportunities at PEL 94 (Namibia), including potential farm-out and related transaction costs, particularly in light of increased industry activity in Namibia.
CMC Markets UK plc, trading as CMC CapX, acted as the Company's sole placing agent.
Hamza Choudhry, Chief Financial Officer of GEO Exploration Limited, commented:
"We are very encouraged by the strong support from investors in this fundraise, which reflects growing confidence in the progress the Company has made across its portfolio and the opportunity ahead.
The Company is entering an exciting phase at the Juno Project with results pending from the labs, alongside increasingly encouraging exploration signals at the Gorge Project, including high-grade rock chips and the recovery of large gold nuggets. In parallel, heightened industry interest in Namibia's Walvis Basin following recent offshore developments with Chevron announcing future drills has further sharpened focus on PEL 94.
With a strengthened balance sheet, GEO is well positioned to continue advancing its assets in a disciplined manner, grow the business through technical progress across multiple projects, and pursue opportunities that we believe can deliver long-term value for shareholders.
As always, we thank all new and existing shareholders for their support as we look forward to taking them with us on the journey ahead."
Admission and Total Voting Rights
Application will be made to AIM for admission of the Placing Shares (the "New Ordinary Shares"), which will rank pari passu with the existing Ordinary Shares. Admission is expected to become effective, and dealings in the New Ordinary Shares to commence, on or around 8.00 a.m. on 22 December 2025.
Following Admission, the Company's issued share capital will comprise 5,596,505,122 Ordinary Shares, each carrying one vote per share. Accordingly, the figure of 5,596,505,122 may be used by shareholders as the denominator for calculations by which they determine whether they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.
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