REG - Fulcrum Metals PLC - Result of General Meeting

Fulcrum MetalsAnnouncement

28/08/2025 13:30

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RNS Number : 0976X  Fulcrum Metals PLC  28 August 2025

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

 

 

28 August 2025

 

 

Fulcrum Metals plc

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

 

Result of General Meeting

 

Fulcrum Metals plc (AIM: FMET), a technology led company focused on the
recovery of precious metals from mine tailings in Canada, is pleased to
announce that at its General Meeting held earlier today, all resolutions
proposed in connection with the amendment and conversion of the Company's
Convertible Loan Notes, as set out in the Company's announcement of 12 August
2025, were duly passed.

 

Votes cast were as follows:

 

 Resolutions             Votes for   %       Votes against  %      Votes total  Votes withheld*
 Resolution 1: Ordinary  46,931,752  99.73%  129,284        0.27%  47,061,036   6,749
 Resolution 2: Special   46,873,867  99.67%  155,809        0.33%  47,029,676   38,109

*A vote withheld is not a vote in law and is not counted in the calculation of
the proportion of votes "For" or "Against" any of the resolutions.

 

Accordingly, the Company will proceed with the CLN Amendment and Conversion
Agreement, resulting in the issue of: (i) 14,335,946 new ordinary shares of
0.1 pence each at 3 pence per share and; (ii) the grant of 7,167,973 warrants
exercisable at 5 pence per share, as previously announced. This transaction
replaces approximately £430,000 of debt with equity, thereby strengthening
the Company's balance sheet.

 

Application has been made for the admission of the new ordinary shares to
trading on AIM, with Admission expected to take place on or around 1 September
2025. Following Admission, the total issued share capital of the Company will
comprise 121,962,212 ordinary shares. This figure may be used by shareholders
as the denominator for the purposes of the FCA's Disclosure Guidance and
Transparency Rules.

 

Ryan Mee, Chief Executive Officer of Fulcrum Metals, commented: "I would like
to thank our shareholders for their strong support in approving the amendment
and conversion of the Company's CLNs and the CLN holders for converting into
equity. Importantly, this includes significant participation by the executive
team, underlining their long-term commitment to Fulcrum's strategy.

 

"By removing approximately £430,000 of debt and replacing it with equity, we
have strengthened the balance sheet and simplified the corporate structure.
This creates a more resilient platform from which to deliver our strategy of
turning waste into gold and creating long-term value for shareholders.

 

"Fulcrum will now press forward with advancing its Teck Hughes Mine tailings
project, including a comprehensive augur drilling programme, Phase 3
optimisation and scale up of the concept study, the completion of a NI 43-101
compliant Mineral Resource Estimate, and environmental baseline assessment
works.

 

I look forward to updating the market as we deliver on these key milestones."

 

Unless otherwise defined herein, capitalised terms used in this announcement
have the same meanings as in the Company's announcement dated 12 August 2025.

 

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 / Daniel 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 initial projects are at the
former Teck-Hughes and Sylvanite 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 has exclusive licenced use of Extrakt's proven 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 opportunity to develop into a significant
environmentally friendly gold producing entity in the near term.

 

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