Acquisition of Additional PhaseFocus Shares

5 June 2020

Braveheart Investment Group plc

("Braveheart" or "the Group")

Completion of Acquisition of PhaseFocus Shares,

Issue of Consideration Shares and Total Voting Rights

Braveheart Investment Group (AIM: BRH), is pleased to announce that, further to the announcement on 21 May 2020, the consent of certain PhaseFocus Holdings Limited ("PhaseFocus") shareholders has been obtained and, therefore, completion of the acquisition of a further 22,145 ordinary shares in PhaseFocus will occur upon the admission of the Consideration Shares (defined below). Upon completion of the transaction, Braveheart will own 42.67 per cent. of the issued share capital of PhaseFocus.

In connection with the acquisition of the additional PhaseFocus shares, Braveheart has issued and allotted, subject to Admission (defined below) a total of 700,000 new ordinary shares of 2 pence each in the Company at a price of 29p per ordinary share as non-cash consideration for the PhaseFocus ordinary shares ("Consideration Shares").

Application will be made to the London Stock Exchange for the Consideration Shares to be admitted to trading on AIM ("Admission"). It is anticipated that Admission will occur, and dealings will commence in the Consideration Shares at 8:00 a.m. on or around 11 June 2020.

Total voting rights

Following the Admission, the Company will have 32,066,521 ordinary shares of 2 pence each in issue, each with one voting right. There are no shares held in treasury. Therefore, the Company's total number of ordinary shares and voting rights will be 32,066,521. This figure may be used by shareholders from Admission 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 Company under the FCA's Disclosure Guidance and Transparency Rules.