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#SVML Sovereign Metals LTD – Rio Tinto Shareholding and Issue of Shares

13th September 2024 / Leave a comment

ISSUE OF SHARES

Sovereign Metals Limited (ASX: SVM, AIM: SVML, OTCQX: SVMLF) (Sovereign or the Company) advises that it has issued 2,326,880 fully paid ordinary shares (Shares) in the capital of the Company, comprising of 1,290,392 Shares issued to Rio Tinto Mining and Exploration Limited (Rio Tinto) and 1,036,488 Shares issued to SCP Resource Finance, as an advisory fee of 3% on the amount of Rio Tinto’s option investment in July 2024 (refer to Company announcement on 3 July 2024).

An application will be made for the Shares to be admitted to trading on AIM (Admission) and it is expected that Admission will become effective on or around 19 September 2024.

RIO TINTO INCREASES ITS SHAREHOLDING TO 19.9%

Following the exercise of its unlisted options on 3 July 2024, Rio Tinto has made an additional investment of A$690,360 in Sovereign through the issue of 1,290,392 Shares (Additional Shares) pursuant to Rio Tinto’s first right of refusal on equity issues. This is in accordance with the Investment Agreement between Rio Tinto and the Company dated 16 July 2023. Following the issue of Additional Shares today, Rio Tinto has increased its shareholding in Sovereign to 19.9%.

Total Voting Rights

For the purposes of the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules (DTRs), following Admission of the Shares, Sovereign will have 599,879,879 Ordinary Shares in issue with voting rights attached. The figure of 599,879,879 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 Company, under the ASX Listing Rules or the DTRs.

Following the issue of Shares, Sovereign has the following securities on issue:

· 599,879,879 fully paid ordinary shares;

· 9,460,000 unlisted performance rights subject to the “Definitive Feasibility Study Milestone” expiring on or before 31 October 2025;

· 3,600,000 unlisted performance rights subject to the “Grant of a Mining Licence Milestone” expiring on or before 31 March 2026; and

· 4,800,000 unlisted performance rights subject to the “Final Investment Decision Milestone” expiring on or before 30 June 2026.

Classification: 2.5 Total number of voting rights and capital

ENQUIRIES

Dylan Browne
Company Secretary

+61(8) 9322 6322

Nominated Adviser on AIM and Joint Broker
SP Angel Corporate Finance LLP	+44 20 3470 0470
Ewan Leggat Charlie Bouverat

Joint Brokers
Stifel	+44 20 7710 7600
Varun Talwar
Ashton Clanfield

Berenberg	+44 20 3207 7800
Matthew Armitt
Jennifer Lee

Buchanan	+ 44 20 7466 5000

#FCM First Class Metals PLC – Repayment of Loan and Share Placing

2nd August 2024 / Leave a comment

First Class Metals PLC (“First Class Metals” “FCM” or the “Company”) is a UK metals exploration company focused on the discovery of economic metal deposits across its extensive Canadian – northern Ontario land holding, is pleased to announce that it has completed the repayment of the shares loaned to the Company by James Knowles, a director of FCM.

Mr Knowles previously loaned the Company two tranches of shares totalling 5,912,059 ordinary shares of £0.001 par value (“Shares”), as announced on 17 July 2024, and consequently 5,912,059 new Shares (“Loan Shares”) have been issued to him today to settle this outstanding position.

Admission and Total Voting Rights

Applications will be made to the FCA and the LSE for admission (“Admission”) of the 5,912,059 Loan Shares, which is expected to be on or around 7 August 2024. These shares rank pari passu with the existing ordinary shares of the Company.

Following Admission, the Company has 97,653,420 Shares in issue, each with one vote per share (and none of which are held in treasury). The total number of voting rights in the Company is therefore 97,653,420. This figure of 97,653,420 may be used by shareholders in the Company as the denominator for calculations to determine if they have a notifiable interest in the share capital of the Company under the Disclosure Guidance and Transparency Rules, or if such interest has changed.

Share Placing

The Company is also pleased to announce that it has completed a private placing of 9,500,000 Shares at a price of 2.7 pence per Share (the “Placing Price”), raising gross proceeds of £256,500 (the “Placing”). Axis Capital Markets, acted as the Company’s sole placing agent in respect of the Placing. The company are pleased to appoint Axis Capital Markets as its new broker following the completion of the fundraising.

The Placing Price represents a 16% discount to the mid-market closing price of the Company’s shares on 1 August 2024, the last trading date prior to the completion of the placing.

The proceeds from the Placing, are intended to be used to continue the Company’s activities across the portfolio aimed at enhancing value, including:

– Expansion and development of the company’s exploration activities on the Dead Otter Trend North, Hemlo.

– Work will include the expansion and potential addition of further stripping and channel sampling sites accelerating exploration further across the 3.7km long Dead Otter Trend.

– Exploration activities on FCM’s other core projects in Northern Ontario.

– For general working capital purposes.

James Knowles, Executive Chairman, Commented:

“In light of the recent announcements regarding the high priority status of the Dead Otter Trend, it was considered wise to take advantage of the crews and equipment already mobilised at the site to increase both the number and scope of stripping sites.

We believe that the Dead Otter project holds transformative potential for FCM’s future, and completing this capital raise promptly will allow significant additional work this summer, thus enhancing our understanding of the geology and the target’s true potential.

Marc Sale, our CEO, is currently onsite overseeing operations and will collaborate closely with the Emerald Geological Team to formulate an expanded operational plan.

I am also pleased to announce the appointment of Axis Capital Markets to be the Company’s new broker”

Director’s-Stock Lending Agreement(s)

The Company does not presently have sufficient headroom to enable the Shares subject to the Placing to be admitted to trading without the publication of an FCA approved prospectus. The Company is therefore proposing that following Admission, James Knowles, a director of the Company, loans 9,500,000 Shares to the Company by means of a share loan agreement (the “Share Lending Agreement”), to facilitate the Placing by the Company. This loan involves no consideration being paid or security granted to James Knowles or a chargeable fee.

The Placing is expected to be completed on or around 21 August 2024.

The Share Lending Agreements provide for the allotment of an aggregate of 9,500,000 new Shares in the Company to James Knowles by 30 December 2024 to replace the Shares loaned in terms of the Share Lending Agreement.

James Knowles has elected not to charge a fee for the loan of these shares.

Following the Share Lending Agreement, James Knowles will have a total of 9,500,000 Shares loaned to the Company.

Material Related Party Transaction

As James Knowles is a director of the Company, the Share Lending Agreement is a material related party transaction (“MRPT”) under the Disclosure Transparency & Guidance Rules.

Marc Sale, Marc Bamber and Andrew Williamson, being the independent directors for the purpose of this MRPT, have approved the MRPT as being fair and reasonable from the perspective of FCM and its shareholders.

For further information, please contact:

James Knowles, Executive Chairman	JamesK@Firstclassmetalsplc.com	07488 362641
Marc J Sale, CEO	MarcS@Firstclassmetalsplc.com	07711 093532

Novum Securities Limited (Financial Adviser)

David Coffman/ George Duxberry

www.novumsecurities.com

(0)20 7399 9400

Axis Capital Markets (Broker)

Lewis Jones/ Ben Tadd

Axcap247.com

(0) 203 026 0449

#GRX GreenX Metals LTD – Issue of Shares on Conversion of Convertible Note

22nd May 2024 / Leave a comment

GreenX Metals Limited (ASX:GRX, LSE:GRX) (GreenX or the Company) advises that it has issued 5,711,805 ordinary fully paid shares (Shares) upon the conversion of a convertible loan note that had a principal amount of A$2,627,430 (Convertible Note).

An application will be made for admission of the Shares to the standard listing segment of the Official List of the FCA (Official List) and to trading on the main market of the London Stock Exchange for listed securities (LSE Admission). LSE Admission is expected to take place on or before 31 May 2024.

For the purposes of the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules (DTRs), following LSE Admission, the Company’s issued ordinary share capital will be 278,901,032 ordinary shares. The above figure of 278,901,032 may be used by shareholders as the denominator for the calculations by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company following LSE Admission

Following the issue of Shares, GreenX has the following securities on issue:

· 278,901,032 ordinary fully paid shares;

· 4,775,000 unlisted options exercisable at A$0.45 each on or before 30 November 2025;

· 5,525,000 unlisted options exercisable at A$0.55 each on or before 30 November 2026; and

· 11,000,000 performance rights that have an expiry date 8 October 2026;

Classification: 2.2 Inside Information

2.5 Total number of voting rights and capital

Enquiries:

GreenX Metals Limited	Tel: +61 8 9322 6322
Dylan Browne, Company Secretary	Email: info@greenxmetals.com

#VVV Resources LTD – Total Voting Rights

1st May 2024 / Leave a comment

In accordance with the Financial Conduct Authority’s Disclosure and Transparency Rules, the Company hereby announces that it has 7,760,504 ordinary shares of no par value each in issue (“Ordinary Shares”), each share carrying the right to one vote. The Company does not hold any Ordinary Shares in Treasury.

The above figure of 7,760,504 Ordinary Shares 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 Financial Conduct Authority’s Disclosure and Transparency Rules.

The Directors of the Company accept responsibility for the content of this announcement.