RMP – Placing to raise AUD5.0M

The Board of Red Emperor Resources NL (ASX/AIM: RMP) (“RMP”, “Red Emperor” or the “Company”), is pleased to announce an oversubscribed placing to certain new and existing institutional and sophisticated investors, via its UK Broker, Brandon Hill Capital, and its Australian Broker and Corporate Adviser, 708 Capital Pty Ltd and Max Capital respectively, of 100,000,000 new ordinary shares of no par value each in the capital of the Company (the “Placing Shares”) at an issue price of 2.8 pence (AUD0.05) per share to raise £2.8 million (approximately AUD5.0m) before expenses (the “Placing”).

The Placing utilises the Company’s existing share capital authorities and is conditional on admission of the Placing Shares to trading on AIM. Following admission, the Placing Shares will represent, in aggregate, approximately 19.04% of the Company’s enlarged issued share capital.

The net proceeds from the Placing will be used to augment the Company’s general working capital and provide contingency, as the Company prepares for the upcoming drilling of the Winx-1 exploration well and potential appraisal activities in the Alaska North Slope, where the Company has a 31.5% working interest. The Winx prospect is a 3D seismic defined conventional oil prospect in the successful Nanushuk play fairway with a gross mean un-risked prospective resource of 400 million barrels (“MMbbls”) (126MMbbls net to Red Emperor) and is adjacent to the Horseshoe 1/1A discovery well drilled by the Armstrong/Repsol JV in 2017. Refer to the Company’s announcement of 25 June 2018 for further details.

Cautionary Statement: The estimated quantities of petroleum that may potentially be recovered by the application of a future development project(s) relate to undiscovered accumulations. These estimates have both an associated risk of discovery and a risk of development. Further exploration, appraisal and evaluation is required to determine the existence of a significant quantity of potentially moveable hydrocarbons.

In addition, the Company has agreed to issue, in aggregate, 6,000,000 warrants to its abovementioned brokers and corporate adviser, exercisable at a price of 2.8 pence (AUD0.05) per new ordinary share, for a period of 36 months from their date of issue.

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