REG - Bradda Head Lithium - Loan Facility Agreement

Bradda Head LithiumAnnouncement

25/09/2025 07:00

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RNS Number : 7170A  Bradda Head Lithium Ltd  25 September 2025

25 September 2025

Bradda Head Lithium Limited

(the "Company")

 Loan Facility Agreement

 

Bradda Head Lithium Limited (AIM:BHL), the North America-focused lithium
development group, announces that it has entered into a short-term loan
facility agreement ("Galloway Facility") with Galloway Limited, a related
party. The funding is provided in connection with the undertaking made by
Galloway Limited as noted in the statutory accounts for the year ending 28
February 2025 to provide support for the Company to maintain its good standing
and will be used for general working capital purposes.

A summary of the terms of the Galloway Facility is set out below:

·    US$ 500,000 facility made available (no fees or set-off or
contribution to costs);

·    Drawn down at the request of the Company (subject to agreed use of
proceeds with Galloway Limited);

·    One year availability and repayment term;

·    Unsecured;

·    Interest at 12% per annum;

·    Accelerated repayment if Company completes an equity fundraising
during the term of the loan; and

·    Standard events of default and warranties from both parties.

AIM Rule 13

As Jim Mellon and Denham Eke are both directors of the Company, and Jim Mellon
is the 100% beneficial owner of Galloway Limited and Denham Eke its Managing
Director, the provision of the Galloway Facility is a Related Party
Transactions under the AIM Rules. Accordingly, the independent directors,
being Ian Stalker, Alex Borrelli and Euan Jenkins, having consulted with the
Group's Nominated Adviser, consider that the terms of the Galloway Facility
are fair and reasonable insofar as the Company's shareholders are concerned.

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) No. 596/2014, as it forms part of UK Domestic
Law by virtue of the European Union (Withdrawal) Act 2018. Upon the
publication of this announcement, this inside information is now considered to
be in the public domain.

For further information, please contact:

 

 Bradda Head Lithium Limited                       Panmure Liberum   Shard Capital

                                Beaumont Cornish                                                    Tavistock

 Company                        Nomad              Joint Broker      Joint Broker                   Investor Relations
 Ian Stalker, Executive Chair   James Biddle /     Rauf Munir        Damon Heath / Isabella Pierre  Nick Elwes /

 Denham Eke, Finance Director   Roland Cornish                                                      Josephine Clerkin
 +44 1624 639 396               +44 20 7628 3396   +44 20 7886 2500  +44 207 186 9927               + 44 20 7920 3150

                                                                                                    braddahead@tavistock.co.uk

 

 

About Bradda Head Lithium Ltd.

Bradda Head Lithium Ltd. is a North America-focused lithium development
group. The Company currently has interests in a variety of projects, the most
advanced of which are in Central and Western Arizona: The Basin
Project (Basin East Project and Basin West Project) and the San Domingo
Project.

The Basin East Project has a Measured Mineral Resource of 20 Mt at an
average grade of 929 ppm Li for a total of 99 kt LCE and an Indicated
Mineral Resource of 122 Mt at an average grade of 860 ppm Li and an
Inferred Mineral Resource of 499 Mt at an average grade of 810 ppm Li for a
total of 2.81 Mt LCE. The Group intends to continue to develop its three
phase one projects in Arizona, whilst endeavouring to unlock value at its
other prospective pegmatite and brine assets in Arizona, Nevada,
and Pennsylvania. All of Bradda Head's licences are held on a 100% equity
basis and are in close proximity to the required infrastructure. Bradda Head
is quoted on the AIM of the London Stock Exchange with the ticker of BHL.

Nominated Advisor

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated
Adviser and is authorised and regulated by the FCA. Beaumont Cornish's
responsibilities as the Company's Nominated Adviser, including a
responsibility to advise and guide the Company on its responsibilities under
the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed
solely to the London Stock Exchange. Beaumont Cornish is not acting for and
will not be responsible to any other persons for providing protections
afforded to customers of Beaumont Cornish nor for advising them in relation to
the proposed arrangements described in this announcement or any matter
referred to in it.

 

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