REG - Metals One PLC - Increased Holding - Uranium Vntre; Issue of Equity

Metals OneAnnouncement

Tue 07:00

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RNS Number : 8864S  Metals One PLC  29 July 2025

29 July 2025

 

Metals One Plc

("Metals One" or the "Company")

 

Increased Shareholding in Uranium Venture, USA

Issue of Equity

&

TVR

 

Metals One Exercises Right to Increase Shareholding in New Mexico Uranium
Venture to 30%

 

Further to the 18 July 2025 announcement, Metals One (AIM: MET1), a minerals
exploration and development company with key interests in uranium and gold
projects, is pleased to announce it has exercised Warrant Tranche 1 and
Warrant Tranche 2 (as detailed in the 18 July 2025 announcement) to increase
its ownership of NovaCore Exploration Inc. ("NovaCore") from 10% to 30%.
NovaCore is a private U.S.-based company advancing the large-scale Red Basin
Uranium Project in Catron County, New Mexico.

 

Accordingly, Metals One has subscribed for an aggregate additional 1,461,653
shares in NovaCore at a price of US$0.587 per share for an aggregate
consideration of US$856,000. The consideration payable by Metals One will be
settled through the issue of 3,873,959 new ordinary shares of £0.001 each
("Shares") in Metals One at a price of 16.487p per Share, being the
volume-weighted average price of the Company's Shares in the 30 days prior to
the exercise of the warrants (the "Consideration Shares").

 

Project Overview

 

As previously announced, NovaCore holds approximately 15,000 acres in the Red
Basin Uranium District of New Mexico, where historical U.S. Department of
Energy assessments and recent radiometric surveys suggest there is potential
for 40 million pounds of U₃O₈. Recently, NovaCore's gamma spectrometry
surveys have identified multiple uranium-rich zones. The area has road access,
a known permitting regime, and favourable geology with structural and
geophysical targets that remain largely undrilled below 400 feet.

 

NovaCore has completed land staking, radiometric and geophysical surveys, and
is advancing permitting and environmental studies to support drilling by
year-end 2025.

 

NovaCore's board of directors includes Neil Herbert (Founder and Chairman) and
Douglas Christopherson (Founder and Technical Advisor) both of whom played key
roles in the management of AIM and TSX listed Uramin Inc. which was sold for
US$2.5 billion.

 

Warrant Exercise

 

The Company announces it has received notice of the exercise of Cash Warrants,
issued pursuant to the Equity Fundraise announced on 31 January 2025, over a
total of 31,600,000 Shares  at 2 pence per Share ("Cash Warrant Shares").
Metals One has also received notice of the exercise of Prepaid Warrants,
issued pursuant to the Equity Fundraise announced on 31 January 2025, over a
total of 50,000 Shares ("Prepaid Warrant Shares"). There are now no further
Prepaid Warrants outstanding.

 

Admission and Total Voting Rights

 

Application will be made for the admission of 35,523,959 new Shares comprising
the Consideration Shares, the Cash Warrant Shares and the Prepaid Warrant
Shares to trading on AIM ("Admission"). The new Shares will rank pari passu
with the existing Shares and it is expected that Admission will become
effective at 8.00 a.m. on 4 August 2025.

 

Following Admission, the Company's issued share capital will consist of
518,341,709 ordinary shares of £0.001 each with voting rights. Metals One
does not hold any Shares in treasury. This figure of 518,341,709 may be used
by shareholders in the Company as the denominator for the calculations by
which they will determine if they require to notify their interest in, or a
change to their interest in, the share capital of the Company under the UK
Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

 

Enquiries:

 

 Metals One Plc                                           info@metals-one.com (mailto:info@metals-one.com)

 Jonathan Owen, Chief Executive Officer                   +44 (0)20 7981 2576

 Craig Moulton, Chairman

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

 James Biddle / Roland Cornish

 Capital Plus Partners Limited (Joint Broker)             +44 (0)207 432 0501

 Jonathan Critchley

 Vigo Consulting (UK Investor Relations)                  IR.MetalsOne@vigoconsulting.com +44 (0)20 7390 0230

 Ben Simons / Kendall Hill / Anna Stacey

 Fairfax Partners Inc (North America Investor Relations)  connect@fairfaxpartners.ca (mailto:connect@fairfaxpartners.ca)

                                                          +1 604 366 6277

 

About Metals One

 

Metals One is pursuing a strategic portfolio of critical and precious metals
projects(*) in low-risk jurisdictions, underpinned by the Western World's
urgent need for reliably and responsibly sourced raw materials, and record
high gold prices.

 

Our commodity exposure(*) includes gold, uranium, vanadium, copper, nickel,
cobalt, zinc, and platinum group metals.

 

Our most advanced project is the Black Schist Project in Finland with a 57.1
Mt nickel-copper-cobalt-zinc JORC Inferred Resource adjacent to one of
Europe's largest nickel producers.

 

Our project portfolio(*) spans the USA, Finland and Norway.

 

Metals One's shares are listed on the London Stock Exchange's AIM Market
(MET1).

 

(*)Includes projects for which acquisition terms have been agreed pending
completion.

 

Follow us on social media:

 

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

X: https://x.com/metals_one_PLC (https://x.com/metals_one_PLC)

 

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

 

Market Abuse Regulation (MAR) Disclosure

 

The information set out below is provided in accordance with the requirements
of Article 19(3) of the Market Abuse Regulations (EU) No. 596/2014 which forms
part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018
('MAR').

 

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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