REG - First Class Metals - First Class Metals PLC Initial Admission
29/07/2022 08:15
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RNS Number : 1253U First Class Metals PLC 29 July 2022
First Class Metals PLC
29th July 2022
First Class Metals Plc
("First Class Metals PLC" "First Class" or the "Company")
ADMISSION TO TRADING ON THE MAIN MARKET, CLOSING OF £1.13 MILLION FUNDRAISING
& FIRST DAY OF DEALINGS
First Class Metals Plc (LSE: FCM), a mineral exploration and development
company, with projects in Ontario, Canada is pleased to announce that its
entire issued ordinary share capital consisting of 65,672,055 ordinary shares
will today be admitted to the Official List (by way of Standard Listing under
Chapter 14 of the Listing Rules) and to trading on the London Stock Exchange's
Main Market for listed securities (together, the "Admission"). Dealings in the
shares will commence today at 08.00 a.m., 29(th) July 2022 under the ticker
'FCM'. The ISIN number is GB00BPJGTF16 and the SEDOL is BPJGTF1.
Upon Admission, the company will have a market capitalisation of £6.56m,
following a successful total fundraise of £1.13m (before expenses) at the
price of 10 pence per Ordinary Share ("the placing" & "the Subscription")
Highlights
- Successful £1.13 million fundraising at 10p per share
- With effect from Admission First Class, will have seven gold, base
and battery metal exploration projects in Ontario, Canada (the "Projects")
- The Flagship Project is North Hemlo, a District Scale 90km2 property
which is prospective for gold, nickel, copper, zinc and molybdenum.
- JV/Earn-In with Palladium One Inc (TSXV: PDM) at Pickle Lake.
- Exploration work already underway across the majority of properties.
- Convertible Loan Note of £300,000 converted into equity in addition
to the Placing and Subscription.
- The proceeds of the Fundraising will be used to undertake
exploration and development expenditure of the Projects and provide working
capital to cover ongoing annual administrative and operating costs.
James Knowles, Executive Chairman of First Class Metal Plc, commented
"We are delighted to start trading on the Main List of the London Stock
Exchange today and that First Class Metals has satisfied all the requirements
for an LSE Standard Listing.
The company has an outstanding portfolio of assets in the Hemlo-Schreiber
Greenstone Belt of Ontario Canada. Seven projects in total, including the
'flagship' project North Hemlo and has a diverse holding of six other projects
across this metal endowed belt. The commodities being explored and developed
on are gold and precious metals, along with nickel which will be highly sought
after in tomorrow's EV and battery storage world.
The projects in Ontario all show a propensity for expansion, with numerous
occurrences and showings to develop with further exploration. We have already
made progress on the exploration front in 2022 with an airborne low level
geo-physics and ground exploration across most of the properties in progress
or completed.
We look forward to building on the initial exploration and further adding
value to projects as soon as possible."
Please visit our website at www.firstclassmetalsplc.com
(http://www.firstclassmetalsplc.com)
This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.
- ENDS -
For further information, please contact:
First Class Metals PLC
James Knowles, Executive Chairman
07488 362641
Mark Sale, Chief Executive
Officer
07711 093532
Ayub Bodi, Executive Director
07860 598086
First Equity Limited (Financial Adviser & Broker)
020 7374 2212
Jonathan Brown
Jason Robertson
Directors from Admission
CEO - Marc Sale
Marc has specialised in natural resources, specifically precious and base
metals, with a focus on gold, for over 25 years. He has worked on project
assessment, exploration and development in Africa, the Americas, Europe, and
Australasia. Marc has held technical directorships for several listed and
private companies, past and present including Brancote PLC, Gold Mines of
Sardinia, Patagonia Gold PLC and Landore Resources PLC. Marc has been integral
in significant discoveries, involved through to Feasibility which have in
instances advanced to production in Australia, Canada and Argentina including
the multimillion-ounce discovery at Esquel and Cap Oeste. As a 'Competent
Person', Marc is accomplished in preparation of Company reports and
overseeing JORC/ NI43-101 reporting as well as the delivery of presentations
to investors, institutions and shareholders. Marc meets the definition of a
'Competent Person' under the NI 43-101 & JORC codes as, in addition to his
experience detailed above, he holds a degree in Geology from the University of
Western Australia, he is a Fellow of the Australian Institute of Mining and
Metallurgy and the Geological Society of London and is a member of the
Australian Institute of Geoscientists and the Society of Exploration
Geophysics.
Executive Chairman - James Knowles
James has enjoyed a twenty-five-year career in the financial sector, primarily
focused in debt funding for larger Real Estate projects for Barclays Bank Plc.
James is a seasoned resource company investor and has consulted to several
London and Canadian junior-listed resource companies on investor relations,
public relations and social media marketing activities.
Executive Director - Ayub Bodi
Ayub has significant management experience in the oil, gas and minerals
industries. Ayub's focus includes, but is not limited to, identifying and
marketing mining, oil and gas and real estate projects internationally as well
as seeking out suitably qualified partners who can add value to those
projects. Ayub has assisted in the process of listing multiple companies on
the London and Toronto stock exchanges.
Independent NED - Danesh Varma
Mr. Varma is a Chartered Accountant in Canada and in England and Wales, with
more than 35 years of experience in financial management. He is currently a
director of Anglesey Mining plc, Grangesberg Iron A.B., Labrador Iron Mines
Holdings Limited and Canadian Manganese Corporation. In addition, Mr. Varma
serves as the Chief Financial Officer of Minco Exploration plc, Buchans
Resources Limited and Xtierra Inc. Previously, he was President of American
Resource Corporation, Westfield Minerals Limited, a director of Northgate
Exploration Limited and CFO of African-Aura Resources plc., Canadian Zinc
Corporation and Conquest Resources Limited.
Independent NED - Marc Bamber
Marc is a Global Corporate Financier, with over 20-years' experience in the
Hedge Fund Sector, Capital Markets, Private & Institutional Investments,
Investor Communications & Marketing. Marc was a core member of the
multiple award winning RAB Special Situations Fund that delivered net returns
of 50x to investors with circa. US$2.8Bn in Assets Under Management (AUM) in
just under five years. Marc is very active in the international markets and
works with a number of Toronto & London-Listed companies in senior
management roles.
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