REG - Critical Mineral - Conversion of Securities

Critical Mineral ResourcesAnnouncement

20/12/2024 15:15

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RNS Number : 9919Q  Critical Mineral Resources PLC  20 December 2024

Critical Mineral Resources PLC

('CMR' or the 'Company')

Purchase of Loan Notes and Issue of Equity

 

Critical Mineral Resources PLC ('CMR' or the 'Company'), the exploration,
metals trading and development company focused on critical metals and minerals
in Morocco is pleased to announce the capitalisation of loan notes and the
issue of capital. The details are set out below.

 

Purchase of Loan Notes and Issue of Equity

Further to the Company's RNS dated 17 July 2024 setting out the details of
the Convertible Loan Notes, the Company confirms that it has entered into an
arrangement with the loan note holders. Under the terms of the settlement deed
Mr. Dominic Traynor, a director of the Company will purchase from the loan
note holders £325,619.17 of the balance due under the loan notes, in
consideration, the loan note holders will be paid £325,619.17 in cash (the
"Acquisition").

In accordance with the terms of the Covertible Loan Notes, Mr Dominic Traynor,
a director of the Company will convert the balance into 29,601,743 new
ordinary shares of £0.01 each (the "Conversion Shares") at a conversion price
of 1.1p per share (the "Conversion").

Following admission of the Conversion Shares, Mr. Traynor has agreed to sell
the Conversion Shares to investors arranged by the Company, at the same price
per share as the Conversion, being 1.1p (the "Placing"), for a gross
consideration of £325,619.17.

Completion of the Conversion is conditional on, inter alia, the Conversion
Shares being admitted to trading on the London Stock Exchange on or
around 23 December 2024 ("Admission").

Admission

Application has been made for the Conversion Shares to be admitted to trading
on the main market for listed securities of the London Stock Exchange, and
admission of the Conversion Shares is expected to occur at 8.00am on or around
23 December 2024. The Conversion Shares will rank pari passu with the existing
Ordinary Shares.

Following Admission, the enlarged issued share capital of the Company will
comprise 114,931,771 ordinary shares of which the Company holds 1,129,592 in
treasury and is not permitted to exercise the attached voting rights.
Therefore, Total Voting Rights calculations should be based on 113,802,179 to
determine if shareholders are required to notify their interest, or a change
to their interest, under the Disclosure and Transparency Rules.

 

CONTACT:

 

 Critical Mineral Resources PLC           info@cmrplc.com

 Charles Long, Chief Executive Officer
 Novum Securities                         +44 (0) 20 7399 9425

 Jon Belliss

 

Notes To Editors

Critical Mineral Resources (CMR) PLC is an exploration and development company
focused on developing assets that produce key commodities for the global
economy including those essential for electrification and the clean energy
revolution. Many of these commodities are widely recognised as being at the
start of a supply and demand supercycle.

CMR is building a diversified portfolio of high-quality metals exploration and
development projects in Morocco, focusing on copper, manganese and potentially
other critical minerals and metals. CMR identified Morocco as an ideal
mining-friendly jurisdiction that meets its acquisition and operational
criteria. The country is perfectly located to supply raw materials to Europe
and possesses excellent prospective geology, good infrastructure and
attractive permitting, tax and royalty conditions. In 2023, the Company
acquired an 80% stake in leading Moroccan exploration and geological services
company Atlantic Research Minerals SARL.

Since taking over the CMR in 2022, the current management has completed a
comprehensive strategic review and restructuring of the business and
implemented its clear strategy to maximise exploration and resource
development opportunities for the benefit of all stakeholders. The Company is
listed on the London Stock Exchange (CMRS.L). More information regarding the
Company can be found at www.cmrplc.com (http://www.cmrplc.com)

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