REG - Zenith Energy Ltd - Further Investment in Reveille Resources PLC

About this update from Zenith Energy Ltd.

RNS Number : 1339L Zenith Energy Ltd 06 July 2026 6 July 2026ZENITH ENERGY LTD.("Zenith" or the "Company")Further Investment in Reveille Resources PLCCompletion of Spin-Out of FEIZenith Energy Ltd. (LSE: ZEN; OSE: ZENA; XSAT: ZENA SDR), the listed international energy production and development company, is pleased to announce that it has invested a further £259,000 in Reveille Resources PLC ("Reveille"), a Uranium-focused natural resources investment company, whose shares are expected to admit to trading on the Aquis Growth Market (the "Aquis") with effect from 7 July 2026 ("Admission"). The Company will be issued 5,180,000 ordinary shares of 1 pence each in Reveille ("Reveille Shares"), at a price of 5 pence per share, conditional on Admission.The Company has completed the sale of Futuro Energetico Italiano Srl ("FEI"), a special purpose vehicle established to hold and develop the Val Vedello and Novazza uranium licence applications, to Reveille for a nominal consideration. Zenith will be issued 7,000,000 Reveille Shares at a price of 5 pence per share on Admission, to reflect Zenith's accrued costs in progressing FEI's Val Vedello and Novazza uranium exploration applications (together, the "Lombardy Project") to this stage of £350,000 (the "FEI Shares").This new investment, together with the Company's previous investment of £200,000, announced on 30 April 2026, and the issue of the FEI Shares, will result in Zenith becoming Reveille's largest shareholder, holding 20,180,000 Reveille Shares, representing approximately 25.26% of Reveille's issued share capital on Admission.Zenith has entered into a 12-month lock-in in respect of its entire shareholding in Reveille from the date of Admission.Further information regarding Reveille is contained in the Company's regulatory news announcement dated 30 April 2026 and will be available on www.reveille-resources.com.In addition, upon Admission, Zenith will be issued two classes of warrants by Reveille.Founder WarrantsZenith will receive 5,872,500 warrants, exercisable at 5 pence per Reveille Share for a period of five years from Admission. These warrants will become exercisable upon the first occurrence of any of the following:· the mid-market closing price of the Reveille Shares on Aquis reaching at least 10 pence for ten consecutive trading days;· the grant of both the Novazza and Val Vedello exploration licence...

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