REG - Fulcrum Metals PLC - Placing of Existing Shares

Fulcrum MetalsAnnouncement

08/04/2025 07:00

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RNS Number : 0072E  Fulcrum Metals PLC  08 April 2025

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.

 

Fulcrum Metals plc / EPIC: FMET / Market: AIM / Sector: Mining

 

 

8 April 2025

 

Fulcrum Metals plc

("Fulcrum" or the "Company" or the "Group")

 

Placing of 7,625,122 existing Ordinary Shares in the Company held by Panther
Metals plc

 

Fulcrum Metals plc (LON: FMET), a technology led company focused on the
recovery of precious metals from mine tailings in Canada, announces that
Panther Metals plc ("Panther") at their sole direction has sold a total of
7,625,122 ordinary shares of 1 pence each ("Ordinary Shares") in the capital
of Company (the "Existing Placing Shares" or "Panther Shares") on 7 April 2025
at a price of 3.5 pence per Ordinary Share (the "Transaction"). The Existing
Placing Shares have been placed with certain existing shareholders in the
Company.

The Transaction has enabled the sale of Panther's entire shareholding in
Fulcrum, equivalent to 12.33% of the issued share capital of the Company, and
Panther no longer hold any Ordinary Shares in Fulcrum following completion of
the Transaction but retain o  476,190 warrants exercisable at 26.25 pence
expiring on 14 February 2026.

Ryan Mee, CEO, commented:-

"The board are pleased with the support shown by existing shareholders in what
is an exciting time for Fulcrum as we focus on optimising a proof of concept
in recovering gold and improving environmental outcomes from mine waste at our
Teck Hughes project in Kirkland Lake, Ontario. The completion of this
transaction has strengthened our shareholder register and we look forward to
updating shareholders on our commercial and operational progress in due
course."

Further information

Clear Capital Markets Limited ("Clear Capital"), the Company's broker, acted
as sole bookrunner ("Bookrunner") in relation to the Transaction.

As announced on 12 March 2024, Panther entered into a new lock-in agreement
with Fulcrum, Allenby Capital Limited (the Company's nominated adviser) and
Clear Capital on 11 March 2024, thereby imposing a hard lock-in period on the
Panther Shares to 15 May 2025 and the orderly market provision on the Panther
Shares for a year thereafter through to 15 May 2026 (the "Lock-in
Undertaking").

The directors of the Company, Clear Capital and Allenby Capital have confirmed
the release of Panther from the Lock-In Undertaking such that they could
participate as the selling shareholder in the Transaction in order to satisfy
investor demand.

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

 

FULCRUM METALS - BACKGROUND

 

About Fulcrum Metals PLC

 

Fulcrum Metals PLC (AIM: FMET) is an AIM quoted technology led natural
resources company focused on recovery of precious metals from mine tailings
(previously milled and processed ore) in Canada using non-cyanide leaching
technology developed by Extrakt Process Solutions LLC and its associates
(together "Extrakt").  The Company's initial projects are the tailing sites
of the former Teck Hughes and Sylvanite mines which are the third and fifth
largest producing gold mines in Kirkland Lake, Ontario. The priority is to
deliver a total tailing management concept at the Teck Hughes site that is
capable of scaling across further mine waste sites. In addition, the Company
has interests in a portfolio of highly prospective mineral exploration and
development projects in both Ontario and Saskatchewan Canada.

 

Fulcrum is in advanced discussions with Extrakt to acquire exclusive licenced
use of their proven disruptive leaching technology on gold mine waste sites
over the mining districts of Timmins and Kirkland Lake. These are two of
Canada's biggest gold camps with a history of over 110Moz Au produced over the
past 100 years and more than 70 documented legacy mine waste sites. This
presents Fulcrum with the opportunity to develop into a significant
environmentally friendly gold producer.

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