REG - First Class Metals - Share Placing & Total Voting Rights

FIRST CLASS METALSAnnouncement

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RNS Number : 4753H  First Class Metals PLC  09 June 2026

The information contained within this announcement is deemed to constitute
inside information as stipulated under the retained EU law version of the
Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK
law by virtue of the European Union (Withdrawal) Act 2018. The information is
disclosed in accordance with the Company's obligations under Article 17 of the
UK MAR. Upon the publication of this announcement, this inside information is
now considered to be in the public domain.

 

 

FIRST CLASS METALS PLC

 Share Placing & Total Voting Rights

 

First Class Metals PLC ("First Class Metals", "FCM" or the "Company") the UK
listed company focused on the discovery of economic metal deposits across its
exploration properties in Ontario, Canada, announces that it has raised gross
proceeds of £1,000,000 before related costs  through a placing (the
"Placing") of 26,315,790 new ordinary shares ("Shares") at a price of 3.8
pence per Share (the "Placing Price"), . The Company's Broker, Axis Capital
Markets, acted as the Company's sole placing agent in respect of the Placing,
introducing new institutional investment to the Company's share register

The Placing Price represents a 9.5% discount to the bid closing price of the
Company's shares on 8 June 2026, being the last trading day prior to
completion of the Placing. The proceeds from the Placing, are intended to be
used to continue the Company's activities across its portfolio aimed at
enhancing value, including:

1.   expansion of the company's exploration activities on the Sunbeam
Project. Work on which, subject to obtaining the necessary government
approvals, will include:

o An exploratory drill programme at the Pettigrew Prospect in H2 2026, with
possible expansion or follow up programme;

o follow up drilling at the Roy prospect;

o intensive exploration and structural study around the Sunbeam mine;

o Exploration on the extension of the three main lineaments to the north-east
at the Sunbeam Property.

2.   exploration activities on FCM's other core and non-core projects in
Northern Ontario; and

3.   for general working capital purposes.

 

Reflecting the Company's increasing confidence in the prospectivity of the
Sunbeam Project, a revised three-year Exploration Permit Application covering
the whole property has now been submitted to the Ontario Ministry of Mines.
The application is designed to support a substantially expanded exploration
programme and provide operational flexibility as the Company advances the
project.

 

James Knowles, CEO of First Class Metals, commented:

"We are pleased to have secured £1 million of new funding through Axis
Capital Markets. While the Company is already funded for the foreseeable
future, this additional capital further strengthens the balance sheet and
provides the flexibility to expand exploration activity across our Ontario
portfolio.

Whilst completed at a modest discount to the prevailing market price, the
Placing represents a premium of approximately 150% to our March 2026
fundraising price of 1.52 pence per share. We believe this reflects the
progress made by the Company and the growing recognition of the value within
our assets.

The current funding enables the Company to advance it's key exploration
initiatives without delay, ensuring we are well positioned to deliver
meaningful news flow throughout the remainder of 2026 while continuing to
pursue opportunities that enhance shareholder value."

 

Broker Warrants

In connection with the Placing, the Company has agreed to grant warrants over
909,090 new ordinary shares to Axis Capital Markets. The warrants are
exercisable at a price of 5.5 pence per warrant for a period of 36 months from
the placing date.

 

 Total Voting Rights

Application will be made to the London Stock Exchange for the 26,315,790
Shares to be admitted to trading on the Main Market for listed securities
("Admission") and it is expected that Admission will take place at 8.00 a.m.
on or around on 23 June 2026.

 

In accordance with the provision of the Disclosure Guidance and Transparency
Rules of the Financial Conduct Authority, the Company confirms that, following
the issue of the Shares, the Company's issued ordinary share capital will
comprise 416,276,349 Ordinary Shares. All the Ordinary Shares have equal
voting rights and none of the Ordinary Shares are held in Treasury. The total
number of voting rights in the Company will therefore be 416,276,349. The
above figure may be used by shareholders as the denominator for the
calculations to determine if they are required to notify their interests in,
or a change to their interest in, the Company.

Please visit our InvestorHub for more information

https://firstclassmetalsplc.com/link/P2KZwy
(https://firstclassmetalsplc.com/link/P2KZwy)

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

AlbR Capital Limited

David Coffman / Dan Harris

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

Tel: (0)20 7469 0930

Axis Capital Markets (Broker)

Richard Hutchinson

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

Tel: (0)203 026 0449

 

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