Hot Rocks Investments plc: Company Update

26 June 2024

HOT ROCKS INVESTMENTS PLC

(the "Company")

Company Update

The Directors of the Company are pleased to announce that the Company has received the cash sum of £235,125 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.

The Directors are also pleased to announce that they have agreed on behalf of the Company to dispose of the Company’s shareholding of 250,000 shares in Impact Oil & Gas Limited (“Impact”) at 56.9p per share for the sum of £142,250, a 5.6X return on the Company’s investment. The sale is subject to completion of a farmout by Impact. It is anticipated that completion will occur before 30 September 2024.

Following the above disposals the company will hold equity and / or warrant positions in the following entities:

D3 Energy

Electrum Discovery Corp
Elephant Oil 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 from African copper and gold explorers, onshore oil explorers, to digital payments entities.

For further details please contact:

Hot Rocks Investments plc

Gavin Burnell Tel: 0207 2644 546

Optiva Securities Limited

Daniel Ingram Tel: 0203 981 4178