REG - Fulcrum Metals PLC - Subscription to raise £550,000

Fulcrum MetalsAnnouncement

09/03/2026 07:00

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RNS Number : 8174V  Fulcrum Metals PLC  09 March 2026

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

 

 

9 March 2026

 

Fulcrum Metals plc

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

 

Subscription to raise £550,000

 

Fulcrum Metals PLC, the AIM-quoted company pioneering the use of innovative
technology to recover precious metals from mine waste, is pleased to announce
that it has raised gross proceeds of £550,000 through a direct subscription
with a single investor (the "Subscription") for 5,000,000 new ordinary shares
of 1 pence each in the Company (the "Subscription Shares") at a price of 11
pence per share (the "Issue Price").

 

The Issue Price represents a premium of approximately 4.8 per cent. to the
closing mid-market price of the Company's ordinary shares on 6 March 2026.

 

Use of Proceeds

The funds raised from the Subscription strengthens the Company's balance sheet
and supports ongoing work programmes across Fulcrum's tailings projects and
pilot plant strategy including:

·    the pilot scoping study

·    work towards Mineral Resource Estimates

·    evaluation of potential integrated production scenarios

 

Ryan Mee, Chief Executive Officer of Fulcrum Metals plc, commented:

"We are pleased to welcome a new investor who recognises the opportunity in
Fulcrum's innovative cyanide free strategy and approach to tailings and its
tailings portfolio.

 

The funds raised will provide additional flexibility to complete important
workstreams underway, in particular the pilot scoping study.

 

We look forward to updating shareholders as these work programmes advance."

 

Issue of Shares to Service Provider

The Company has also issued 227,273 new ordinary shares (the "Fee Shares") at
the Issue Price to a service provider in settlement of fees in connection with
the Subscription totalling £25,000.

Board incentive options

Currently there are no Board or management options in issue. Following
publication of the Company's audited results for the year ended 31 December
2025, the Company's remuneration committee intends to implement share option
plans and/or grant options to the executive directors and other staff members
of the Company as a means of incentivising growth and furthering alignment
with shareholders.

 

It is anticipated that any options granted will have an exercise price of 11p,
matching the issue price of the Subscription announced today, with a potential
option pool of up to 10% of the issued share capital of the Company at the
time of the grant. A further announcement will be made at the time of the
grants.

 

Admission and Total Voting Rights

Application has been made for the Subscription Shares and the Fee Shares
(together the "New Ordinary Shares") to be admitted to trading on the AIM
market of the London Stock Exchange ("Admission"). It is anticipated that
Admission of the 5,227,273 New Ordinary Shares will occur on or around 12
March 2026.

 

From Admission, the Company's issued ordinary share capital will comprise
147,358,025 ordinary shares of 1 pence each, with one voting right each. The
Company does not hold any ordinary shares in treasury. Therefore, the total
number of ordinary shares and voting rights in the Company is 147,358,025.

 

The above figure may be used by shareholders in the Company 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 share capital
of the Company under the FCA's Disclosure Guidance and Transparency Rules.

 

FOR FURTHER INFORMATION

Visit: www.fulcrummetals.com (http://www.fulcrummetals.com)

Follow on X: @FulcrumMetals

Contact:

 Fulcrum Metals PLC
 Ryan Mee (Chief Executive Officer)           Via St Brides Partners Limited
 Allenby Capital Limited (Nominated adviser)
 Nick Athanas / Ashur Joseph                  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"). Fulcrum's initial projects are the tailing
sites of the former Teck-Hughes and Sylvanite gold mines in the Kirkland Lake
mining camp of 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 an exclusive Master Licence Agreement ("MLA") for the rights to
Extrakt's proven cyanide free 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 historical gold production of over 110Moz
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, near term gold producer.

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