REG - Atlas Metals Group - Corporate Update

Atlas MetalsAnnouncement

17/01/2025 07:00

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RNS Number : 6788T  Atlas Metals Group PLC  17 January 2025

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC UK LAW PURSUANT TO THE MARKET
ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) ("UK MAR"). UPON THE
PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK
MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

17 January 2025

Atlas Metals Group plc

(the "Company", or "Atlas Metals")

Corporate Update

Atlas Metals (previously known as MetalNRG), announced on 24 December 2024
that the sale and purchase agreement that the Company had signed to acquire
the entire issued share capital of Compagnie Minière de Oumejrane ("CMO")
from Managem S.A. ("Managem") had been terminated with immediate effect.  The
Company subsequently examined possible alternative options to enable the
conclusion of the acquisition of CMO, but no appropriate alternatives were
available in the required timescale and Managem have now completed the sale of
CMO to a third party.

Following the failure to complete the acquisition of CMO the Company's
management have been examining and engaging in discussions with a number of
other potential acquisition targets, which are primarily producing assets
focused on copper and gold in Africa.

In addition, the Company continues to explore options to maximise the value to
its shareholders of Atlas Metal's existing portfolio of assets.

Further announcements will be made in due course, as appropriate.

Commenting Christopher Chadwick, CEO of Atlas Metals, said: "Whilst it was
obviously disappointing that we could not conclude the acquisition of CMO, I
am very pleased with the quality and breadth of the alternative acquisition
opportunities that are being presented.  The Atlas Metals strategy remains
unchanged and I am fully committed to building a global natural resources
business to deliver industry leading returns to shareholders through a
consolidation of tier two assets over the next five years.  I look forward to
providing further updates in due course as discussions progress."

For the purposes of UK MAR, the person responsible for arranging release of
this announcement on behalf of Atlas Metals is Christopher Chadwick, Chief
Executive Officer.

For further information, please contact:

 Atlas Metals Group plc
 Christopher Chadwick                                     +44 (0) 207 796 9060

 Hannam & Partners - Financial Adviser and Joint Broker
 Andrew Chubb                                             +44 (0) 207 907 8500

 SPARK Advisory Partners Limited - Sponsor
 James Keeshan                                            +44 (0) 203 368 3550
 Andrew Emmott                                            +44 (0) 203 368 3550

 Peterhouse Capital Limited - Joint Broker
 Lucy Williams                               + 44 (0) 207 469 0930
 Duncan Vasey                                + 44 (0) 207 469 0930

 S I Capital Limited - Joint Broker
 Nick Emerson                                +44 (0) 1483 413500

 IFC Advisory Limited - Financial PR and IR
 Tim Metcalfe                                +44 (0) 203 934 6630
 Florence Chandler                           +44 (0) 203 934 6630

 

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