Pantheon Resources PLC Announces Closing of US$35 million Convertible Bond Issuance

Pantheon Resources (PTHRF) has successfully closed a US$35 million senior convertible bond issuance due March 2028.

Rhea-AI Summary

Pantheon Resources (PTHRF) has successfully closed a US$35 million senior convertible bond issuance due March 2028. The bonds were issued to Sun Hung Kai & Co. and its affiliates, clients, and managed funds. The company, which holds 100% working interests in projects covering 258,000 acres adjacent to transportation and pipeline infrastructure on the Alaska North Slope, completed this financing following earlier announcements made in February 2025.

Positive

• Secured significant funding through US$35 million convertible bond issuance
• Maintains 100% working interest in substantial 258,000-acre Alaska North Slope position
• Strategic location adjacent to existing transportation and pipeline infrastructure

Negative

• Increased debt obligation with new US$35 million convertible bonds
• Potential future shareholder dilution upon bond conversion

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LONDON, UNITED KINGDOM / ACCESS Newswire / March 25, 2025 / Pantheon Resources plc ("Pantheon" or the "Company"), the AIM-quoted oil and gas exploration company with 100% working interests in projects spanning 258,000 acres adjacent to transportation and pipeline infrastructure on the Alaska North Slope, is pleased to announce that further to its announcements on 20 and 28 February 2025 that the Company has now entered into the definitive documentation for and has issued US$35 million in aggregate principal amount of senior convertible bonds due March 2028 (the "ConvertibleBonds") to Sun Hung Kai & Co. Limited and its affiliates, clients and funds managed or advised by them. The key terms of the Convertible Bonds, are as set out in the announcement of 20 February 2025.

-ENDS-

Further information:

UK Corporate and Investor Relations Contact
Pantheon Resources plc
Justin Hondris
contact@pantheonresources.com

Nominated Adviser and Broker
Canaccord Genuity Limited
Henry Fitzgerald-O'Connor, James Asensio, Charlie Hammond
+44 20 7523 8000

Public Relations Contact
BlytheRay
Tim Blythe, Megan Ray, Matthew Bowld
+44 20 7138 3204

USA Investor Relations Contact
MZ Group
Lucas Zimmerman, Ian Scargill
+1 949 259 4987
PTHRF@mzgroup.us

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Pantheon Resources PLC

View the original press release on ACCESS Newswire

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is the value and maturity of PTHRF's new convertible bond issuance?

Pantheon Resources (PTHRF) issued US$35 million in senior convertible bonds due March 2028.

Who are the investors in PTHRF's March 2025 convertible bond offering?

The convertible bonds were issued to Sun Hung Kai & Co. and its affiliates, clients, and funds managed or advised by them.

How many acres does PTHRF control on the Alaska North Slope?

Pantheon Resources holds 100% working interests in projects spanning 258,000 acres on the Alaska North Slope.

Where are PTHRF's Alaska North Slope assets located relative to infrastructure?

The company's projects are located adjacent to transportation and pipeline infrastructure on the Alaska North Slope.