REG - URU Metals Limited - URU CLOSES OVERSUBSCRIBED PLACING

URU MetalsAnnouncement

04/11/2025 07:05

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RNS Number : 0138G  URU Metals Limited  04 November 2025

4 November 2025

URU Metals Limited
("URU" or the "Company")

URU CLOSES OVERSUBSCRIBED PLACING

 

Fundraising

URU Metals Limited is pleased to announce that following the successful
granting of the mining licence by the South African Department of Minerals and
Petroleum Resources (DMPR), the Company has raised £1.1 million, before
expenses, through a placing of 15,714,285 new ordinary shares of no nominal
value each in the capital of the Company (the 'Placing Shares') at a price of
7p per share. The Placing was arranged by the Company's broker, Axis Capital
Markets Limited.

The funds raised will allow URU to begin critical, on the groundwork, such as
ground geophysics, which will give a clearer picture of the geological site
and form a crucial part of the preparation for a drilling programme that will
commence on completion of the geophysics. Following receipt of the placing
proceeds, the Company will begin a tender process to find a drilling
contractor for work that is expected to start in Q1 2026.

Admission and Dealing of the Shares

The Placing Shares will be issued as fully paid and rank pari passu in all
respects with the existing ordinary shares of the Company, including the right
to receive dividends and other distributions declared on or after the date on
which they are issued.

Application will be made to the London Stock Exchange for the Placing Shares
to be admitted to trading at 8:00 a.m. on or around 7 November 2025.

Total Voting Rights

Following admission of the Placing Shares, the Company's issued share capital
will be 96,963,703 Ordinary Shares. This figure of 96,963,703 may be used by
shareholders as the denominator for the calculations by which they will
determine if they are required to notify their interest in, or change to their
interest in, the share capital of the Company.

John Zorbas, Chief Executive Officer commenting: "After the successful
granting of the long awaited mining licence by the DMPR, we are pleased to
have secured the funding requirements for the immediate future of the on the
ground operations at our flagship Zeb Nickel Project. The amount available to
the Company is significantly above what the Company has previously raised,
reflecting increased investor interest at this critical time in URU's
development.

About the Company

URU Metals is a mineral exploration and development company focused on
advancing its high-potential critical metals project in South Africa. The
Company is committed to creating sustainable value through responsible mining
practices, regulatory compliance and engagement with stakeholders. For more
information, visit www.urumetals.com (http://www.urumetals.com)

Market Abuse Regulation (MAR) Disclosure

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of European Union (Withdrawal) Act 2018 (MAR), and is disclosed in
accordance with the Company's obligations under Article 17 of MAR.

For further information, please contact:

URU Metals Limited

John Zorbas

(Chief Executive Officer)

+1 416 504 3978

 

SP Angel Corporate Finance LLP

(Nominated Adviser and Broker)

 

Ewan Leggat / Jen Clarke  + 44 (0) 203 470 0470

 Axis Capital Markets Limited    +44 (0) 203 026 0320

 (Joint Broker)

 Lewis Jones

 

 

 

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