Velocys plc (AIM:VLS) acquired Pinto Energy, LLC for $8.5 million in stock and warrants on June 25, 2014. Under the terms of agreement, 0.2 million shares shall be held in escrow under the sale and purchase document and further 1 million shares will be issued at successful financial close of the Ashtabula GTL project, five year warrants over up to $0.75 million worth of Shares that will be granted for each additional project in the Pinto Energy pipeline that achieves financial close by the end of 2015, struck at a price equivalent to the greater of £2.192 ($3.73) per Share and 200 per cent of the share price at financial close of the project. Numis Securities Inc. acted as broker, Lionsgate Communications acted as public relationship advisor and Pierpont Communications as public relationship advisor for Velocys plc. Robert Hamill and Robert Gray of Mayer Brown LLP acted as legal advisors for Velocys plc. Mark Barnett of Foley Hoag LLP acted as legal advisor for Pinto. Jamie Lillywhite, Alex Ham and Stuart Skinner of Numis Securities Limited acted as financial advisors to Velocys plc. Krystal Hewitt of Pierpont Communications acted as PR advisor and Jonathan Charles of Lionsgate Communications acted as PR advisor to Velocys plc. The conversion was made through www.oanda.com as of June 24, 2014.

Velocys plc (AIM:VLS) completed the acquisition of Pinto Energy, LLC on June 25, 2014.