Pantheon Resources

Canaccord Genuity Acted as Nominated Adviser, Joint Bookrunner and Broker to Pantheon Resources Plc on its $29 million Placing, Subscription and Retail Offer

Canaccord Genuity is pleased to announce it has acted as Nominated Adviser, Joint Bookrunner and Broker on a $29 million Placing, Subscription and Retail Offer for Pantheon Resources plc (“Pantheon” or the “Company”) at price of 17 pence per share.

Pantheon (LSE: PANR) is an AIM-quoted oil and gas company with a 100% working interest in the Kodiak and Ahpun projects located in close proximity to pipeline and transportation infrastructure on Alaska's North Slope.

The purpose of the fundraise is principally to fund the drilling of the Megrez-1 well located in the Ahpun Eastern Topset area, and, together with existing cash resources, to cover lease rentals, development of the Company's asset portfolio and provide general working capital for the Group. Additional funds raised in the upsized fundraise will be applied towards data acquisition such as collecting whole core, tests of multiple horizons and, in a success case, a possible long term production test at Megrez-1, as well as further development of the Company's asset portfolio and general corporate purposes.