Ascent Resources PLC has announced the signature of a Strategic Collaboration Agreement with investment company MBD Partners SA. The agreement will see Ascent and MBD jointly review and evaluate business development opportunities in the natural resources space. In support of the collaboration, MBD has agreed to subscribe directly for £1.5 million in new equity via a direct subscription at 3.5 pence per new share, which represents a 35% premium to the closing bid price on 2 October 2023. Following completion of the subscription, MBD Partners SA will have an interest in 20.54% of Ascent's enlarged share capital and will be classified as a related party. MBD will also have the right to nominate a new non-executive director to Ascent's board.