Reveille Resources Plc (AQSE: REV; OTCID: RVREF), a uranium exploration and development company focused on Italy's largest historic uranium deposits, has announced the exercise of warrants over 955,949 new ordinary shares at 10 pence each, raising gross proceeds of £95,594.90. The newly issued shares are expected to be admitted to trading on the Aquis Growth Market on or around 13 November 2026. Following admission, the company's total issued ordinary share capital will stand at 83,755,465 shares, each carrying one voting right. Investors in the uranium exploration sector may be watching how the company deploys the proceeds as it advances its Italian licence applications.

Key Points

  • Reveille Resources Plc (AQSE: REV; OTCID: RVREF)
  • 955,949 new ordinary shares of 1 pence each issued via warrant exercise at 10 pence per share, raising £95,594.90 gross
  • Admission to the Aquis Growth Market anticipated on or around 13 November 2026; total voting shares will be 83,755,465
  • Investors should watch for updates on exploration-licence approvals for the Novazza and Val Vedello uranium projects in northern Italy

Warrant Exercise Terms and Gross Proceeds for Reveille Resources

Reveille Resources has received notice for the exercise of warrants resulting in 955,949 new ordinary shares of 1 pence each, issued at an exercise price of 10 pence per share. The transaction generates gross proceeds of £95,594.90 for the company. The announcement does not specify how these proceeds will be allocated, nor does it provide updated cash-position figures or project expenditure forecasts. The company did not disclose the identity of the warrant holders exercising their rights in this announcement.

Aquis Growth Market Admission and Updated Total Voting Rights

Application has been made to admit the 955,949 warrant shares to trading on the Aquis Growth Market, with admission anticipated on or around 13 November 2026. Upon completion, Reveille's total issued ordinary share capital will comprise 83,755,465 ordinary shares, each carrying a single voting right. The company holds no shares in treasury, meaning this figure also represents the total number of voting rights. Shareholders are reminded that this denominator figure should be used when calculating disclosure obligations under the FCA's Disclosure Guidance and Transparency Rules.

Novazza and Val Vedello Uranium Projects Underpin Reveille's Italian Strategy

Reveille is advancing exploration-licence applications for the Novazza and Val Vedello uranium projects in northern Italy through its subsidiary, Futuro Energetico Italiano S.r.l. Both projects are subject to environmental-assessment processes and sit on ground historically explored by AGIP Nucleare and its subsidiary SOMIREN between 1959 and 1983, with historical work encompassing more than 87,000 metres of drilling and approximately 17 kilometres of underground development. The company's stated strategy centres on applying modern exploration techniques to assets with substantial historical technical work where value remains unrealised.

Broader European Uranium Ambitions Alongside Italian Core Focus

Beyond Italy, Reveille's strategy includes selectively evaluating additional uranium opportunities elsewhere in Europe and other Western jurisdictions, though no specific new targets are identified in this announcement. The company states it is committed to working with local communities, regulators, and other stakeholders. Licence-approval timelines for Novazza and Val Vedello remain subject to Italian regulatory and environmental processes, representing a key operational risk that investors in early-stage uranium exploration companies will recognise.