REG - First Class Metals - Publication of Prospectus and Issue of Equity

FIRST CLASS METALSAnnouncement

25/02/2025 12:30

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250225:nRSY4079Ya&default-theme=true

RNS Number : 4079Y  First Class Metals PLC  25 February 2025

 

First Class Metals Plc

("First Class Metals", "FCM" or the "Company")

Publication of Prospectus and Issue of Equity

First Class Metals Plc (LSE: FCM), the Canada-focused precious and base metal
explorer, with extensive land holdings in northern Ontario, is pleased to
announce that, further to the announcement on 18 December 2024, it has today
published a Prospectus ("Prospectus"). The Prospectus, which has been approved
by the Financial Conduct Authority ("FCA"), has been published on the
Company's website at https://firstclassmetalsplc.com/prospectus-and-reports
and will also be available at the FCA's Document Storage Mechanism at:
https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

The Prospectus has been published to enable the issue and admission to the
Official List (Equity Shares (transition) category) and to trading on the Main
Market of the London Stock Exchange ("Admission") of 90,922,121 new ordinary
shares of £0.001 each ("Shares"),  of which 78,552,084 are being issued to
The 79th GRP Limited by way of a subscription at a price of 1.7 pence per
share.  The balance of the Shares are being issued to fulfil certain
contractual obligations.

Application will be made for the Admission of 90,922,121 Shares. It is
expected that Admission will become effective on or around 28 February 2025.
The Shares will rank pari passu with the existing ordinary shares of the
Company.

On Admission, the Company's issued ordinary share capital shall consist of
ordinary shares with each ordinary share carrying the right to one vote.
Following the issue of the Shares the total issued share capital of the
Company will comprise 191,741,361 Ordinary Shares. The Company has no Ordinary
Shares held in treasury. Accordingly, the figure of 191,741,361 represents the
total voting rights in the Company and should be the figure used by
shareholders as the denominator for the calculation by which they can
determine if they are required to notify their interest in, or a change to
their interest in, the Company under the FCA's Disclosure Guidance &
Transparency Rules.

This announcement contains information which, prior to its disclosure, was
inside information as stipulated under Regulation 11 of the Market Abuse
(Amendment) (EU Exit) Regulations 2019/310 (as amended).

 

Ends

 

For Further Information:

Engage with us by asking questions, watching video summaries, and seeing what
other shareholders have to say. Navigate to our Interactive Investor hub here:

https://firstclassmetalsplc.com/auth/signup
(https://firstclassmetalsplc.com/auth/signup)

For further information, please contact:

James Knowles, Executive Chair

Email: JamesK@Firstclassmetalsplc.com (mailto:JamesK@Firstclassmetalsplc.com)

Tel: 07488 362641

Marc J Sale, CEO

Email: MarcS@Firstclassmetalsplc.com (mailto:MarcS@Firstclassmetalsplc.com)

Tel: 07711 093532

Novum Securities Limited (Financial Adviser)

David Coffman / Daniel Harris

Website: www.novumsecurities.com (http://www.novumsecurities.com)

Tel: (0)20 7399 9400

Axis Capital Markets (Broker)

Lewis Jones / Ben Tadd

Website: Axcap247.com (http://www.axcap247.com)

Tel: (0)203 026 0449

NOTES TO EDITORS

 

First Class Metals PLC - Background

First Class Metals listed on the LSE in July 2022 and is focused on metals
exploration in Ontario, Canada which has a robust and thriving junior mineral
exploration sector. In particular, the Hemlo 'camp' near Marathon, Ontario is
a proven world class address for gold exploration, featuring the Hemlo gold
deposit operated by Barrick Gold (>23M oz gold produced), with the past
producing Geco and Winston Lake base metal deposits also situated in the
region.

FCM currently holds 100% ownership of seven claim blocks covering over 180km²
along a 150km strike of the Hemlo-Schreiber-Dayohessarah greenstone belt,
exploring for gold, base metals, and rare earth element mineralization. In
addition, FCM is carrying out a joint venture with Palladium One on the West
Pickle Lake Property in the region, a drill-proven ultra-high-grade Ni-Cu
project.

The flagship property North Hemlo had a high-definition low level magnetic
Heli-borne survey flown in April 2022, this was followed with ground
prospecting which ultimately defined the 'Dead Otter Trend' which is a
discontinuous 4.5km gold anomalous trend with a 19.6g/t Au peak grab sample.
This sampling being the highest known assay ever recorded on the North Limb of
Hemlo.

In October 2022 FCM completed the option to purchase the historical high-grade
past-producing Sunbeam gold mine near Atikokan, Ontario, ~15 km southeast of
Agnico Eagle's Hammond Reef gold deposit (3.3 Moz of open pit probable gold
reserves).

FCM acquired the Zigzag Project near Armstrong, Ontario in March 2023. The
property features Li-Ta-bearing pegmatites in the same belt as Green
Technology Metals' Seymour Lake Project, which contains a Mineral Resource
estimate of 9.9 Mt @ 1.04% Li2O. Zigzag was drilled prior to Christmas 2023
and results have now been released.

The significant potential of the properties for precious, base and battery
metals relates to 'nearology', since all properties lie in the same districts
as known deposits (Hemlo, Hammond Reef, Seymour Lake), and either contain
known showings, geochemical or geophysical anomalies, or favourable structures
along strike from known showings (e.g. the Esa project, with an inferred
Hemlo-style shear along strike from known gold occurrences).

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  PDISELFEIEISEFE