REG - Harena Rare Earths - Conditional Subscription to raise £2,000,000

Harena Rare EarthsAnnouncement

18/02/2026 07:00

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RNS Number : 4064T  Harena Rare Earths PLC  18 February 2026

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE UK
MARKET ABUSE REGULATION (EU NO. 596/2014 AS IT FORMS PART OF DOMESTIC LAW BY
VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018). UPON THE PUBLICATION OF
THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE
INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

18 February 2026

Harena Rare Earths Plc

("Harena" or the "Company")

 

Conditional Subscription to raise £2,000,000

 

Harena Rare Earths Plc (LSE: HREE, OTCQB: CRMNF), the rare earths company
focused on the Ampasindava ionic clay rare earth project in Madagascar (the
"Ampasindava Project"), is pleased to announce that it has raised gross
proceeds of £2.0 million through a direct subscription for 90,909,090 new
ordinary shares of 0.5 pence each in the Company (the "Subscription Shares")
by a prominent international investor (the "Subscription"). The Subscription
Shares will be issued at a price of 2.20 pence per new Subscription Share (the
"Subscription Price").

 

The Subscription Shares will be issued pursuant to the Company's existing authorities to allot shares. The Subscription is conditional upon Admission (as defined below).
 
Use of Proceeds
 
The net proceeds of the Subscription will be used for the continuation of development work on the Ampasindava Project, engagement with the U.S. International Development Finance Corporation ("DFC") and for ongoing working capital requirements.
 
Admission
 

Application will be made for the Subscription Shares to be admitted to trading
on the Main Market of the London Stock Exchange ("Admission"). Admission is
expected to take place at 8.00 a.m. on or around 23 February 2026.

 

Ivan Murphy, Executive Chairman of Harena, said:

 

"I am delighted to welcome this new globally recognised international
investor, whose investment is another endorsement of our world-class rare
earth project and our strategy for its development."

 

For further information please contact:

 

 Harena Rare Earths Plc

 Ivan Murphy, Executive Chairman                                +44 (0)20 7770 6424

 Allan Mulligan, Executive Technical Director

 SP Angel - Joint Broker                                        +44 (0)20 3470 0470

 Ewan Leggat / Josh Ray (Corporate Finance)

 Marex Financial - Corporate Advisor                            +44 (0)20 7655 6000

 Angelo Sofocleous / Keith Swann / Matt Bailey (Broking)        corporate@marex.com

 Allenby Capital - Financial Adviser & Joint Broker             +44 (0)20 3328 5656 info@allenbycapital.com

 Jeremy Porter / Vivek Bhardwaj (Corporate Finance)

 Amrit Nahal / Kelly Gardiner (Sales & Corporate Broking)

 Muriel Siebert & Co. - US Financial Adviser & Broker           +1 (917) 902 7823 aasija@siebert.com

 Ajay Asija, Co-Head of Investment Banking

 Celicourt Communications - Public Relations                    +44 (0)20 7770 6424

 Mark Antelme / Charles Denley-Myerson                          harena@celicourt.uk

 

 

Notes to editors

 

Harena (www.harenaresources.com (http://www.harenaresources.com.au) ) is a
rare earths exploration and development company focused on the Ampasindava
Ionic Clay Rare Earth Project in Madagascar (Harena's interest is 100%). The
project hosts one of the largest ionic clay rare earth deposits outside of
China, with significant concentrations of high-value magnet metals,
specifically heavy rare earths, including neodymium (Nd), dysprosium (Dy), and
praseodymium (Pr), which are critical for the composition of neodymium magnets
(NdFeB). Harena is committed to low-impact, high recovery mining, providing a
sustainable supply of critical minerals for the global energy transition and
military defence industries as well as meeting the ever-growing demand for
NdFeB from the robotics sector.

 

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