REG - Critical Metals PLC - £350,000 Investment

Critical MetalsAnnouncement

11/09/2024 16:00

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RNS Number : 8308D  Critical Metals PLC  11 September 2024

Critical Metals plc / EPIC: CRTM / Market: Main Market

 

 

11 September 2024

Critical Metals plc

("Critical Metals" or the "Company")

 

£350,000 Investment

 

Critical Metals plc, developer and operator of the Molulu Copper/Cobalt
Project ("Molulu" or the "Project") in the Democratic Republic of Congo
("DRC"), announces a further investment of £350,000 by NIU Invest SE ("NIU"),
with whom the Company has entered into a term sheet agreement for the
injection of up to £2.5 million ("NIU Investment").

 

NIU is a German company that invested £1 million in convertible loan notes
("CLNs") in the Company issued in April 2024, and a subsequent investment of
£105,000 by way of bridge financing via CLNs that the Company issued on 23
August 2024 (announced on 27 August 2024). NIU has agreed to invest the
additional £350,000 via the same convertible loan instrument.

 

The CLNs are convertible at a price of 2p per ordinary share of 0.5p each in
the capital of the Company ("Ordinary Shares") upon the Company publishing an
FCA approved prospectus. In consideration for this, the Company has (i) issued
to NIU warrants over  1.9m new Ordinary Shares exercisable at 0.5p per
Ordinary Share; and (ii) agreed to issue 12.1m warrants to NIU conditional
upon the completion of the NIU Investment and allotment authority being
received by the shareholders of the Company in a future general meeting. The
Company is in the process of finalising the terms of the NIU Investment and
the Company will update the market when definitive legal agreements are
entered into.

 

Commenting on the additional investment, Russell Fryer, CEO of Critical Metals
said:

 

"We are pleased with the support provided by NIU and its continued investment
in Critical Metals. As we get closer to restarting production at Molulu and
selling ore to O.M. Metals, our offtake partner, we remain bullish about the
short and long term value proposition of the Company and look forward to
updating investors on our progress in due course".

 

 

**ENDS**

 

For further information on the Company please
visit www.criticalmetals.co.uk or contact: 

 

 Critical Metals plc

 CEO

 Russell Fryer                  critical@stbridespartners.co.uk

 Fox-Davies Capital Limited

 Corporate Broker

 Daniel Fox-Davies              Tel: +44 (0)20 3884 8450

 St Brides Partners Ltd

 Financial PR

 Ana Ribeiro / Charlotte Page   critical@stbridespartners.co.uk

 

 

About Critical Metals

London listed Critical Metals plc is focused on identifying low CAPEX and OPEX
brown-field projects with near-term production and cash-flow, concentrating on
minerals that have strategic importance to future global economic growth.  In
line with this, and with an off-take partner already in place, the Company is
currently focused on recommencing production at the formerly producing Molulu
Copper/Cobalt Project in the Katangan Copperbelt in Democratic Republic of
Congo ('DRC').

 

 

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