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GEO Exploration Limited (AIM: GEO) is pleased to announce that it has raised £1,035,000 before expenses through the placing of 1,725,000,000 new Ordinary Shares (the "Placing Shares") at 0.06 pence per share (the "Issue Price"). The Placing has been strongly supported by institutional and new investors, alongside support from existing shareholders.
GEO's Strategic Partner and Technical Consultant, Callum Baxter, and Exploration Manager, Tom Harris, participated in discussions with key investors during the capital raise, providing insight into the Company's Australian gold projects. Mr Baxter is credited with the discovery of the Havieron deposit in Western Australia, now the key asset of £4.1 billion AIM-listed Greatland Resources Limited (AIM: GGP; ASX: GGP). He continues to work closely with GEO in advancing its gold projects.
The net proceeds will support exploration and drilling at Gorge, further exploration at Juno, PEL 94 licence upkeep and work programme commitments, and general operational and corporate costs. Expenditure will continue to be prioritised in line with exploration results, operational requirements and available capital.
The Placing was conducted by CMC Markets UK plc and SI Capital Limited, acting as the Company's joint brokers.
The Capital Access Window will remain open, with trading in the Company's ordinary shares expected to be restored with effect from 7.30 a.m. on 15 September 2026.
Retail Offer
The Company is also pleased to announce a separate retail offer (the "Retail Offer") through CMC Markets UK plc, trading as CMC CapX, initially targeting £250,000 before expenses, through the issue of new Ordinary Shares (the "Retail Offer Shares") at the same Issue Price of 0.06 pence per share. Subject to demand, the Company reserves the right to increase the size of the Retail Offer.
The Retail Offer is intended to give eligible existing shareholders the opportunity to participate alongside the institutional investors on the same pricing terms. It will open at 10:30 a.m. on 10 September 2026 and is expected to close at 4.30 p.m. on Monday, 14 September 2026, unless otherwise announced.
Eligible existing shareholders in the United Kingdom wishing to participate should contact their broker or wealth manager to confirm whether they are a participating intermediary. Further details, including eligibility, application procedures and the applicable terms and conditions, will be set out in the separate Retail Offer announcement. The Company will announce the results of the Retail Offer in due course.
Hamza Choudhry, Chief Financial Officer of GEO Exploration Limited, commented:
"We are very pleased to welcome support from institutional investors alongside new and existing shareholders. Their support is an encouraging endorsement of GEO's strategy and the opportunities across our portfolio, particularly our gold projects.
With Gorge quickly becoming our flagship asset, we were also delighted that Callum Baxter and Tom Harris could engage directly with key investors and share their technical perspectives. Callum's experience, including his role in the Havieron discovery, is highly valued as we advance our exploration portfolio.
As part of our shareholder-focused strategy, we are also committed to giving eligible existing shareholders the opportunity to participate at the same price through the Retail Offer. We thank all our shareholders for their continued support and look forward to updating the market as our programmes progress."
Admission and Total Voting Rights
Application will be made to AIM for admission of the Placing Shares and subject to completion of the Retail Offer, the Retail Offer Shares (together, 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 21 September 2026.
Following Admission, the Company's issued share capital will comprise of 7,584,444,991 Ordinary Shares, each carrying one vote per share. Accordingly, the figure of 7,584,444,991 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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