REG - Cornish Metals Inc. - LAST DAY OF TRADING ON AIM AND RE-DOMICILE UPDATE

Cornish MetalsAnnouncement

15/12/2025 14:30

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RNS Number : 6294L  Cornish Metals Inc.  15 December 2025

 

CORNISH METALS ANNOUNCES UPDATE REGARDING THE LAST DAY OF TRADING ON AIM IN
RELATION TO ITS PROPOSED RE-DOMICILE

 

Vancouver, December 15, 2025

Cornish Metals Inc. (AIM/TSXV: CUSN) ("Cornish Metals", "Cornish Canada" or
the "Company") a mineral exploration and development company focused on
advancing its wholly owned and permitted South Crofty tin project in Cornwall,
United Kingdom, provides a further update following the receipt of the final
order from the Ontario Superior Court of Justice (the "Court Order") approving
the previously announced re-domicile of the Company (the "Arrangement").

The Arrangement will result in the transfer all of the issued and outstanding
common shares of the Company (each a "Cornish Canada Share") to Cornish Metals
plc ("Cornish UK") in exchange for the issue to the Company's shareholders of
new shares in Cornish UK (each a "Cornish UK Share"), on the basis of one (1)
Cornish UK Share for ten (10) Cornish Canada Shares,  rounded down to the
nearest whole number of Cornish UK Shares. In the event that any holder of
Cornish Canada Shares holds fewer than ten (10) Cornish Canada Shares, or the
number of Cornish Canada Shares held when divided by ten (10) is not a whole
number, such allocation will be rounded down to the nearest whole number (or
zero, if fewer than ten (10) Cornish Canada Shares are held immediately prior
to the of effective date of the Arrangement). The Arrangement remains subject
to the satisfaction of customary closing conditions and is expected to close
on or about December 16, 2025.

In order for the Company's registrar to facilitate the transfer of all of the
Cornish Canada Shares to Cornish UK and the issue of the new Cornish UK
Shareholders on the Effective Date in accordance with the requirements of the
Court Order, the Company announces that the last time for trading of the
Cornish Canada Shares on AIM will be 4:30 p.m. (London time) today on December
15, 2025.

Shareholders of the Company should be aware that as previously announced and
in accordance with the Court Order relating to the Arrangement, the effective
time of transfer of all of the Cornish Canada Shares to Cornish UK is 8:01 AM
(London time) (being 12:01 AM Vancouver time) on 16 December 2025. At such
point Cornish UK will hold the entire issued share capital of the Company in
accordance with (and to the extent of) the terms of the Arrangement. As such
no trading in Cornish Canada Shares by Cornish Canada Shareholders is possible
or would have been possible (notwithstanding this announcement) on 16 December
2025.

Accordingly, bringing forward the last day of trading on AIM to 4:30 p.m.
(London time) on December 15, 2025 has no practical effect on the ability of
any Cornish Canada Shareholder to trade their Cornish Canada Shares prior to
the acquisition of such shares taking place.

Cornish UK shall issue the Cornish UK Shares in accordance with the
Arrangement on December 16, 2025 with CREST accounts expected to be credited
by December 18, 2025.

Updated Expected timetable of principal events

The updated timetable of remaining principal events is therefore as follows:

                                                                                2025
 Last day of trading of Cornish Canada Shares on AIM and suspension of trading  4:30 p.m. (UK time) on December 15
 Effective Date of the Plan of Arrangement                                      December 16
 Delisting of Cornish Canada Shares on TSXV                                     December 16
 Cancellation of Trading of Cornish Canada Shares on AIM                        7.00 am (London time) on December 18
 Admission and commencement of dealings of Cornish UK Shares on AIM             08:00 a.m. (London time) on December 18
 CREST accounts expected to be credited by                                      December 18
 Dispatch of definitive share certificates by                                   Within ten business days

of Admission

This timetable is indicative only. The actual timetable will depend upon the
time at which the conditions precedent to the Arrangement, including
conditions relating to receipt of regulatory approvals, are satisfied or, if
applicable, waived. Any variation to the timetable set out above will be
announced by Cornish Canada and published on Cornish Canada's website.

ABOUT CORNISH METALS

Cornish Metals is a mineral exploration and development company that is
advancing the South Crofty critical mineral project towards production. South
Crofty:

·    is a historical underground tin mine located in Cornwall, United
Kingdom and benefits from existing mine infrastructure including multiple
shafts that can be used for future operations;

·    is the highest grade known tin resource not in production;

·    is permitted to commence underground mining (valid to 2071),
construct a new processing facility and for all necessary site infrastructure;

·    would be potentially the first primary producer of tin in Europe or
North America. Tin is a Critical Mineral as defined by the UK, American, and
Canadian governments as it is used in almost all electronic devices and
electrical infrastructure. Approximately two-thirds of the tin mined today
comes from China, Myanmar and Indonesia;

·    benefits from strong local community, regional and national
government support with a growing team of skilled people, local to Cornwall,
and could generate over 300 direct jobs.

Engage with us directly at our investor hub. Sign up at:
https://investors.cornishmetals.com/link/y1BWde
(https://investors.cornishmetals.com/link/y1BWde)

 

For additional information please contact:

 

 Cornish Metals                           Fawzi Hanano       investors@cornishmetals.com (mailto:investors@cornishmetals.com)

                                          Emily Allhusen     info@cornishmetals.com (mailto:info@cornishmetals.com)
                                                             Tel: +44 1209 715 777

 SP Angel Corporate Finance LLP           Richard Morrison   Tel: +44 203 470 0470

 (Nominated Adviser & Joint Broker)       Charlie Bouverat

 Hannam & Partners                        Andrew Chubb       cornish@hannam.partners (mailto:cornish@hannam.partners)

 (Joint Broker)                           Jay Ashfield       Tel: +44 207 907 8500

 BlytheRay                                Tim Blythe         cornishmetals@blytheray.com (mailto:cornishmetals@blytheray.com)

 (Financial PR)                           Megan Ray          Tel: +44 207 138 3204

                                          Said Izagaren

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.

Caution regarding forward looking statements

This news release may contain certain "forward-looking information" and
"forward-looking statements" (collectively, "forward-looking statements").
Forward-looking statements are often, but not always, identified by the use of
words such as "seek", "anticipate", "believe", "plan", "estimate", "forecast",
"expect", "potential", "project", "target", "schedule", "budget" and "intend"
and statements that an event or result "may", "will", "should", "could",
"would" or "might" occur or be achieved and other similar expressions and
includes the negatives thereof. Forward-looking statements herein include, but
at not limited to, statements with respect to: the delisting of the Cornish
Canada Shares and the listing of the Cornish UK Shares; the application by
Cornish Canada to cease to be a reporting issuer in applicable Canadian
jurisdictions; and early warning disclosure. All statements other than
statements of historical fact included in this news release, are
forward-looking statements that involve various risks and uncertainties and
there can be no assurance that such statements will prove to be accurate and
actual results and future events could differ materially from those
anticipated in such statements.

Forward-looking statements are based on current expectations and are subject
to known and unknown risks and uncertainties, many of which are beyond Cornish
Metals' ability to predict or control and could cause actual results to be
materially different from those expressed or implied by such forward-looking
statements, including but not limited to: risks related to receipt of
regulatory approvals; risks related to general economic and market conditions;
risks related to the availability of financing; the timing and content of
upcoming work programmes; actual results of proposed exploration activities;
possible variations in Mineral Resources or grade; projected dates to commence
mining operations; failure of plant, equipment or processes to operate as
anticipated; accidents, labour disputes, title disputes, claims and
limitations on insurance coverage and other risks of the mining industry;
changes in national and local government regulation of mining operations, tax
rules and regulations. The list is not exhaustive of the factors that may
affect Cornish Canada's forward-looking statements.

Cornish Metals' forward-looking statements are based on the opinions and
estimates of management and reflect their current expectations regarding
future events and operating performance and speak only as of the date such
statements are made. Although Cornish Metals has attempted to identify
important factors that could cause actual actions, events or results to differ
from those described in forward- looking statements, there may be other
factors that cause such actions, events or results to differ materially from
those anticipated. There can be no assurance that forward-looking statements
will prove to be accurate and accordingly readers are cautioned not to place
undue reliance on forward-looking statements. Cornish Metals does not assume
any obligation to update forward-looking statements if circumstances or
management's beliefs, expectations or opinions should change other than as
required by applicable law.

All forward-looking statements herein are qualified by this cautionary
statement. Accordingly, readers should not place undue reliance on
forward-looking statements. Cornish Metals undertakes no obligation to update
publicly or otherwise revise any forward-looking statements whether as a
result of new information or future events or otherwise, except as may be
required by law.

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