REG - Metals One PLC - Extension of Major Shareholder Lock-in Agreements

Metals OneAnnouncement

31/01/2024 07:30

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RNS Number : 5045B  Metals One PLC  31 January 2024

 

31 January 2024

Metals One Plc

("Metals One" or the "Company")

 

Extension of Major Shareholder Lock-in Agreements

 

Metals One (https://metals-one.com/) (AIM: MET1), which is advancing battery
metal projects at brownfield sites in Finland and Norway, is pleased to
announce that shareholders representing in aggregate over 30% of the Company's
issued share capital have agreed to extend their lock-in agreements through to
31 December 2025.

 

As set out in the Company's Admission Document dated 25 July 2023 ("Admission
Document"), Bluejay Mining Plc ("Bluejay"), which holds 62,500,000 shares, had
consented to a lock-in agreement for a period of one year following the
Company's admission to AIM on 31 July 2023 ("Admission"). Bluejay has now
agreed to extend the terms of its lock-in agreement until 31 December 2025.

 

As also set out in the Admission Document, 3 Mile Beach Limited ("3 Mile"),
which holds 17,500,000 shares, had consented to a lock-in agreement for a
period of six months following the Company's Admission. 3 Mile has also agreed
to extend the terms of its lock-in agreement until 31 December 2025.

 

In both cases, the extended lock-in supersedes the orderly market undertakings
given at the time of Admission.

 

Daniel Maling, Chief Financial Officer of Metals One, commented:

 

"This is a tremendous endorsement of two key shareholders ahead of maiden
drilling results anticipated from the Black Schist Project in Finland. We are
grateful for the continuing support of Bluejay and 3 Mile. They share our
excitement for the long term value creation opportunity that exists to develop
nickel resources in Europe to supply European EV manufacturers with high
quality, traceable raw materials. We look forward to updating the market on
drilling results and forward strategy soon."

 

Eric Sondergaard, Managing Director of Bluejay, added:

 

"Dan Maling and the Metals One team have done a great job in getting the
Company listed and work programmes funded in difficult market conditions which
have persisted in the months following Admission. We are impressed by the
exploration activity to date. We are committed to realising the full value
potential of the Black Schist Project via Metals One and this is reflected in
our agreement to remain locked-in for another couple of years."

 

Enquiries:

 

 Metals One Plc                                                     via Vigo Consulting

 Jonathan Owen, Chief Executive Officer                             +44 (0)20 7390 0234

 Daniel Maling, Chief Financial Officer

 Beaumont Cornish Limited (Nominated Adviser)                       +44 (0)20 7628 3396

 James Biddle / Roland Cornish

 www.beaumontcornish.com (http://www.beaumontcornish.com)

 Shard Capital Partners LLP (Joint Broker)                          +44 (0)20 7186 9952

 Damon Heath / Erik Woolgar

 SI Capital Limited (Joint Broker)                                  +44 (0)14 8341 3500

 Nick Emerson

 Fortified Securities (Joint Broker)                                +44 (0)20 3411 7773

 Guy Wheatley, CFA

 www.fortifiedsecurities.com (http://www.fortifiedsecurities.com)

 Vigo Consulting (Investor Relations)                               +44 (0)20 7390 0234

 Ben Simons / Kendall Hill

 metalsone@vigoconsulting.com

 

About Metals One

 

Metals One is developing brownfield battery metals projects in Finland (Black
Schist Project) and Norway (SRH Råna Project), with approximately £9 million
of exploration carry exposure through farm-in agreements. Metals One is aiming
to help meet the significant demand for battery metals by defining resources
on the doorstep of Europe's major electric vehicle OEMs and battery
manufacturers. Metals One's Black Schist Project in Finland, totalling 706
km(2) across three licence areas, has an Inferred Resource of 28.1 Mt
nickel-zinc-cobalt-copper and is located adjacent to Talvivaara, Europe's
largest operating nickel mine. Metals One's fully carried SRH Råna Project in
Norway covers 18.14 km² across three contiguous exploration licences, with
significant opportunity for brownfield exploration of the Råna intrusion, and
proven potential for massive sulphide nickel-cobalt-copper mineralisation.

 

Follow us on social media:

 

LinkedIn: https://www.linkedin.com/company/metals-one-plc/
(https://www.linkedin.com/company/metals-one-plc/)

Twitter: https://twitter.com/metals_one_PLC/
(https://twitter.com/metals_one_PLC/)

 

Subscribe to our news alert service on the Investors page of our website at:
www.metals-one.com (http://www.metals-one.com)

 

Nominated Adviser

 

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated
Adviser and is authorised and regulated by the FCA. Beaumont Cornish's
responsibilities as the Company's Nominated Adviser, including a
responsibility to advise and guide the Company on its responsibilities under
the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed
solely to the London Stock Exchange. Beaumont Cornish is not acting for and
will not be responsible to any other persons for providing protections
afforded to customers of Beaumont Cornish nor for advising them in relation to
the proposed arrangements described in this announcement or any matter
referred to in it.

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