Hot Rocks Investments plc: Sale of stake in Impact Oil & Gas

27 August 2024

HOT ROCKS INVESTMENTS PLC

(the "Company")

Sale of Holding in Impact Oil & Gas Limited to Africa Oil Corp

Further to the announcement by the Company on 26 June 2024, the Directors are pleased to announce that the Company has received the sum of £142,250 in respect of the sale of the Company’s investment in Impact Oil & Gas Limited (“Impact”) to Africa Oil Corp.

The Directors agreed on behalf of the Company to dispose of the Company’s shareholding of 250,000 shares in Impact at 56.9p per share for the sum of £142,250, a 5.6X return on the Company’s investment. The sale has now completed.

These funds are in addition to the £235,125 received in June following the result of the tender offer at 5.39p per share in respect of approximately 94% of the shares held in Phoenix Digital Assets plc by the Company, as previously announced.

Following the above disposals the company holds equity and / or warrant positions in the following listed and unlisted entities:

D3 Energy

Elephant Oil Corp

Electrum Discovery Corp

Mafula Energy Limited

Minergy Limited

Mosi Copper Limited

New Horizon Oil & Gas Limited

Orcadian Energy Plc

Phoenix Digital Assets plc

Pilar Gold Inc

Rift Resources Limited

Royal Road Minerals Limited

Supernova Digital Assets plc

Trigon Metals Inc

Tucano Gold Inc

Unicorn Mineral Resources plc

The Directors continue to look at opportunities to add value for shareholders and are currently reviewing potential investments in a range of companies including African copper and gold explorers, onshore oil explorers, and digital payments entities.

For further details please contact:

Hot Rocks Investments plc

Gavin Burnell Tel: 0207 2644 546

Optiva Securities Limited

Vishal Balasingham Tel: 0203 981 4174