Last Conversion of Convertible Shares

04 April 2018

Frontera Resources Corporation

("Frontera Resources" or "the Company")

Last Conversion of Convertible Shares 

Frontera Resources Corporation (AIM: FRR), the European focused independent oil and gas exploration and production company, today announces that on 03 April 2018 it received a conversion notice for the month of April 2018 from YA II PN, Ltd. ("YA") to convert 309 Series A Preferred Convertible Shares ("Series A Shares") out of its outstanding total of 3200 Series A Shares. Pursuant to the terms of the agreement with YA, conversion will be made at a price of 0.393 pence, which will result in the issue of 56,052,442 new ordinary shares ("New Ordinary Shares") to YA. The agreement with YA contains a limitation of a maximum of 1,300,000,000 ordinary shares ("Maximum Ordinary Shares") that YA is entitled to convert before 16 June 2018. Following this conversion, YA will not be able to convert any further Series A Shares as the Company has effectively issued the Maximum Ordinary Shares. Following this conversion, YA will hold 2,891 Series A Shares with the redemption value of $2,891,000 which is redeemable on 16 June 2018.

Application will be made for New Ordinary Shares to be admitted to trading on AIM, which is anticipated to occur on or around 11 April 2018 ("Admission"). The New Ordinary Shares will rank pari passu with the existing Ordinary Shares of the Company.

Following Admission, the Company will have 15,760,835,403 Ordinary Shares in issue with voting rights. The Company does not hold any Ordinary Shares in treasury and accordingly there are no voting rights in respect of any treasury shares. The aforementioned figure of 15,760,835,403 Ordinary Shares may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company, under the disclosure requirements applicable to the Company.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

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