REG - Critical Mineral - Conversion of Securities

Critical Mineral ResourcesAnnouncement

27/03/2025 07:15

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RNS Number : 3724C  Critical Mineral Resources PLC  27 March 2025

Critical Mineral Resources PLC

('CMR' or the 'Company')

Purchase of Loan Notes and Issue of Equity

Critical Mineral Resources PLC, the exploration 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

The Company confirms that it has entered into an arrangement with the holders
of convertible loan notes constituted on 16 July 2024. Under the terms of the
settlement deed Mr. Dominic Traynor, a director of the Company will purchase
from the loan note holders £237,482.52 (the balance due under the loan
notes) in consideration, the loan note holders will be paid £237,482.52 in
cash (the "Acquisition").

In accordance with the terms of the Convertible Loan Notes, Mr Dominic
Traynor, a director of the Company will convert the loan balance into
20,459,728 new ordinary shares of £0.01 each and the remaining 1,129,592
treasury shares (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 £237,482.52. Completion of the Conversion is conditional
on, inter alia, the Conversion Shares being admitted to trading on the London
Stock Exchange on or around 28 March 2025 ("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 on 28 March 2025. The
Conversion Shares will rank pari passu with the existing Ordinary Shares.

Following Admission, the enlarged issued share capital of the Company will be
135,391,499 ordinary shares of 1p each. Each ordinary share carries the right
to one vote. The Company no longer holds any shares in treasury.

The 135,391,499 number may be used by shareholders for determining if they are
required to notify their interest in, or a change to their interest in, the
Company, under the Disclosure and Transparency Rules.

 

 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 critical minerals 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.

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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