Director Subscription to raise £140,000
27/05/2025 07:00
RNS Number : 0926K
Fulcrum Metals PLC
27 May 2025
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014 WHICH HAS BEEN INCORPORATED INTO UK LAW BY THE EUROPEAN UNION (WITHDRAWAL) ACT 2018. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
27 May 2025
Fulcrum Metals plc
("Fulcrum" or the "Company" or the "Group")
Director Subscription to raise £140,000
and
Total Voting Rights
Fulcrum Metals plc (AIM: FMET), a technology led company focused on the recovery of precious metals from mine tailings in Canada, announces that certain members of the Board have subscribed for a total of £140,000 of new Ordinary Shares (the "Director Subscription"). The Director Subscription will result in the issue and allotment of a total of 2,800,000 new Ordinary Shares at the Issue Price of 5 pence (the "Director Subscription Shares").
The funds will be utilised by the Company as follows:
(i) towards the development of the Company's tailings projects, Teck-Hughes and Sylvanite;
(ii) to support the development of the master licence agreement entered into with Extrakt Process Solutions, details of which were announced by the Company on 22 May 2025, including to provide funding for the initial annual licencing fee; and
(iii) to provide additional working capital.
This funding, together with the previously announced monetisation of certain of the Company's exploration assets - including the signing of a binding letter of intent with TSX Venture Exchange listed Loyalist Exploration Limited for the sale of the Company's Tully Gold Project (announced on 9 April 2025)- and any future cash generated from the optioned-out Saskatchewan uranium projects (announced on 3 July 2024) will contribute towards the wider funding requirements of Fulcrum as a group over the coming 12 months.
Commenting on the Director Subscription Ryan Mee, CEO of Fulcrum Metals, said:
"The subscription at a premium to the prevailing market price reflects the Directors' confidence in Fulcrum's growth prospects. Significant progress has been made in transforming the Company - from the monetisation of exploration assets and acquisition of tailings projects to successful technology testing initiatives. Most notably, the recently announced exclusive Master Licence Agreement for Extrakt's cyanide free technology marks a pivotal step forward, enabling Fulcrum to unlock the substantial mineral potential of its Kirkland Lake tailings projects and assets across Canada's two most prolific gold camps."
Directors' Subscription
The following Directors have conditionally subscribed for Ordinary Shares in the Company in the amounts set out in the table below:
| Director | Current number of Ordinary Shares held | Director Subscription | Director Subscriptionshares | Number of Ordinary Shares following the Fundraise | % of enlarged share capitalfollowing the Fundraise |
| Ryan Mee (Chief Executive Officer)* | 7,673,910 | £115,000 | 2,300,000 | 9,973,910 | 15.43% |
| John Hamilton (Chief Financial Officer) | 156,353 | £12,500 | 250,000 | 406,353 | 0.63% |
| Alan Mooney (Non-Executive Director) | 81,520 | £12,500 | 250,000 | 331,250 | 0.51% |
| Fulcrum Metals PLC | |
| Ryan Mee (Chief Executive Officer) | Via St Brides Partners Limited |
| Allenby Capital Limited (Nominated adviser) | |
| Nick Athanas / Dan Dearden-Williams | Tel: +44 (0) 203 328 5656 |
| Clear Capital Markets Limited (Broker) | |
| Bob Roberts | Tel: +44 (0) 203 869 6081 |
| St Brides Partners Ltd (Financial PR) | |
| Ana Ribeiro / Paul Dulieu | Tel: +44 (0) 20 7236 1177 |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||||||
| a) | Name | PDMRs:
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| 2 | Reason for the notification | |||||||||
| a) | Position/status | See 1a) above | ||||||||
| b) | Initial notification /Amendment | Initial notification | ||||||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||
| a) | Name | Fulcrum Metals Plc | ||||||||
| b) | LEI | 21380058R5JN7ZOLZK12 | ||||||||
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||||||
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary Shares of nominal value 1 pence each GB00BPCPPZ79 | ||||||||
| b) | Nature of the transaction | Subscription for Ordinary Shares | ||||||||
| c) | Price(s) and volume(s) | Price: 5p per Ordinary Share Volumes:
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| d) | Aggregated information - Aggregated volume - Price | N/A | ||||||||
| e) | Date of the transaction | 23 May 2025 | ||||||||
| f) | Place of the transaction | Outside a trading venue | ||||||||