Grand Cayman, Cayman Islands--(Newsfile Corp. - September 21, 2018) - Tethys Petroleum Limited (TSXV: TPL.H) ("Tethys" or the "Company") today announces that pursuant to the previously announced private placements with Jaka Partners FZC and Gemini IT Consultants DMCC (each, an "Investor" and together, the "Investors") each Investor has exercised all of the 31,738,506 share purchase warrants held by them at the price of US$0.0233840 per ordinary share. Each Investor now owns approximately 9.99% of the ordinary shares of the enlarged share capital of the Company. The proceeds received by Tethys from the Investors from the exercise of the Warrants amounts to approximately US$1.5 million.
Tethys is focused on oil and gas exploration and production activities in Central Asia and the Caspian Region. This highly prolific oil and gas area is rapidly developing and Tethys believes that significant potential exists in both exploration and in discovered deposits.