REG - Fulcrum Metals PLC - Director Subscription to raise £140,000

Fulcrum MetalsAnnouncement

27/05/2025 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250527:nRSa0926Ka&default-theme=true

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 Subscription shares  Number of Ordinary Shares following the Fundraise  % of enlarged share capital following 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%

 

*In addition to the shareholdings set out in the table above, OnGold Invest
Corp. ("OnGold"), a company owned equally by Ryan Mee, Aidan O'Hara and
Mitchell Smith, owns 312,500 Ordinary Shares in the Company.

 

The Director Subscription is conditional upon Admission (as defined below)
only.

 

The FCA notifications in relation to the above and made in accordance with the
requirements of the UK Market Abuse Regulation are appended further below.

 

Related party transaction

The participations in the Director Subscription constitute related party
transactions under the AIM Rules for Companies. Mitchell Smith (Non-Executive
Chairman) and Aidan O'Hara (Corporate Development Director are considered
independent in relation to the consideration of these related party
transactions under AIM Rule 13.

The Independent Directors (being Mitchell Smith and Aidan O'Hara) consider,
having consulted with the Company's nominated adviser, Allenby Capital
Limited, that the terms of the subscriptions for the Director Subscription
Shares are fair and reasonable insofar as the Company's shareholders are
concerned.

Admission and Total Voting Rights

 

Application will be made for the 2,800,000 Director Subscription Shares to be
admitted to trading on the AIM Market of the London Stock Exchange
("Admission").  It is expected that the issue of the 2,800,000 Director
Subscription Shares will take place, Admission will become effective and that
dealings in the Director Subscription Shares on the AIM market of the London
Stock Exchange will commence on or around 2 June 2025.

 

On Admission, the Company will have 64,625,943 Ordinary Shares in issue, each
with one voting right.  There are no shares held in treasury.  Therefore,
the Company's total number of Ordinary Shares and voting rights will be
64,625,943 and this figure may be used by shareholders from Admission as the
denominator for the calculations by which they will 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 and Transparency Rules.

 

For further information please visit https://fulcrummetals.com/
(https://fulcrummetals.com/) or contact:

 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

 

 

 

Notes to Editors

 

About Fulcrum Metals PLC

 

Fulcrum Metals PLC (AIM: FMET) is an AIM listed technology led natural
resources company focused on recovery of precious metals from mine tailings
(previously milled and processed ore) in Canada using environmentally friendly
leaching technology developed by Extrakt Process Solutions LLC and its
associates (together "Extrakt").  The Company's projects are the tailing
sites of the former Teck-Hughes and Sylvanite gold mines, located at the
Kirkland Lake region in Ontario. In addition, the Company has interests in a
portfolio of highly prospective mineral exploration and development projects
in both Ontario and Saskatchewan Canada.

 

Fulcrum have entered into a Master Licence Agreement (MLA) with Extrakt for
the exclusive licence rights using their proven technology on legacy gold mine
waste sites over the mining districts of Timmins and Kirkland Lake which
includes Fulcrum's Teck Hughes and Sylvanite projects. Fulcrum are developing
the Teck Hughes and Sylvanite tailing sites to unlock the significant mineral
wealth and delivering a scalable concept across two of Canada's biggest gold
camps with a history of over 110 million ounces of gold production and more
than 70 mine waste sites.

This notification is made in accordance with the requirements of the UK Market
Abuse Regulation

Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them

 

 1    Details of the person discharging managerial responsibilities / person closely
      associated
 a)   Name                                                         PDMRs:

Ryan Mee       Chief Executive Officer
                                                                   John Hamilton  Chief Financial Officer
                                                                   Alan Mooney    Non-Executive Director

 
 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  Ordinary Shares of nominal value 1 pence each

      Identification code                                          GB00BPCPPZ79
 b)   Nature of the transaction                                    Subscription for Ordinary Shares

 c)   Price(s) and volume(s)                                       Price: 5p per Ordinary Share

                                                                   Volumes:

        Ordinary Shares subscribed for:
                                                                   Ryan Mee       2,300,000
                                                                   John Hamilton  250,000
                                                                   Alan Mooney    250,000

 

 d)   Aggregated information                                       N/A

      - Aggregated volume

      - Price
 e)   Date of the transaction                                      23 May 2025
 f)   Place of the transaction                                     Outside a trading venue

 

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:

 

                Ordinary Shares subscribed for:
 Ryan Mee       2,300,000
 John Hamilton  250,000
 Alan Mooney    250,000

 

 

 

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

 

 

 

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  DSHPPUBGAUPAGBQ