Frontier Resources International plc

January 07, 2013 02:00 ET

Issue of Equity and Board Appointment

                                                                                             7 January 2013
                                   Frontier Resources International Plc
                                        ("Frontier" or the "Company")
                                   Issue of Equity and Board Appointment
Issue of Equity

On  21  December  2012,  Frontier  Resources International Plc,  the  ISDX  Growth  Market  (Ticker:  FRGP)
international  oil  and gas exploration company with assets in Oman, Namibia and Zambia,  announced,  inter
alia,  that  the Company was in the process of raising up to GBP250,000 through the issue of  new  ordinary
shares at a price of 8 pence per share.

Further  to  that  announcement, the Directors are pleased to announce that the Company  has  today  raised
GBP140,000 through the issue of 1,750,000 new ordinary shares at 8p per share and that a further GBP110,000
has  been raised through the placing of 1,375,000 new ordinary shares at 8p per share for settlement by  31
January 2013.

The  proceeds of the fundraising will provide working capital for the Company while it continues to  assess
its immediate Work Programme priorities.

Board Appointment

Frontier  is also pleased to announce that Mr. Gavin Bonnar has joined the Board of the Company as  a  Non-
Executive Director with immediate effect.

Mr.  Bonnar,  Barrrister-at-Law, qualified in Northern Ireland and is called to the bar in the Republic  of
Ireland. He has over 20 years' experience in the legal profession specialising in media, libel and privacy.
He  has also attained experience in financing smaller capitalised resource companies and has spent over ten
years working on the ground in Africa.

Mr.  Bonnar  currently serves on the Board of the Niall Mellon Township Trust charity  ("NMTT"),  an  Irish
based charity supported by Nelson Mandela and Archbishop Tutu. He has raised funds with Archbishop Tutu  in
the  U.S.  Congress. By the end of 2012, NMTT has housed around 100,000 poor South Africans and built  some
20,000 homes for people living in shacks. NMTT is undertaking its first build programme in the Republic  of
Congo  and  Kenya.  As a result Gavin has built a strong network of contacts all over  the  continent.  Mr.
Bonnar is a past winner of the Archbishop Desmond Tutu Medal for Compassion.

Mr.  Bonnar was a Partner of GMB Properties LLP from 29 January 2008 until the Company was dissolved  on  7
April 2011.

Mr  Bonnar  is  interested in 320,000 Ordinary Shares in Frontier representing 0.42% of  the  issued  share
capital of the Company.

Save as disclosed above, no additional information relating to Mr. Bonnar falls to be disclosed pursuant to
Rule 71 and paragraph 18 of Appendix 1 of the ISDX Growth Market - Rules for Issuers.

Frontier's  CEO Jack Keyes said: 'We are delighted to have an individual on the Board with the broad  based
African  experience and contacts of Mr. Bonnar, not to mention his legal experience.  We  look  forward  to
working with Gavin as we expand the Company's African operations".

The Directors of Frontier are responsible for the contents of this announcement.

Contact Details:
Frontier Resources International Plc.
Jack Keyes, CEO
Telephone: +1 (281) 920-0061

Ric Piper, Chairman
Telephone: +44 7966 381974

ISDX Corporate Adviser
St Helens Capital Partners LLP
Duncan Vasey or Mark Anwyl
Telephone: +44 20 7368 6959

Contact Information

  • Frontier Resources International plc