December 02, 2022

Exercise of Warrants & Extension of Warrants

Critical Minerals & Rare Earths

September 26, 2022 (Source) – Critical Metals plc, a mining company established to acquire mining opportunities in the critical and strategic metals sector, currently developing an ex-producing copper cobalt mine in the Democratic Republic of Congo (“DRC”), is pleased to announce that it has received warrant exercise notices to subscribe for a total of 550,000 new ordinary shares of £0.005 each in the Company (“Ordinary Shares”) (the “Warrant Shares”).

The Warrant Shares are being issued pursuant to the exercise of 550,000 warrants over Ordinary Shares at an exercise price of 10 pence per Ordinary Share for total gross proceeds of £55,000.

In addition, the Company has agreed to issue 37,500 Ordinary Shares in the Company at a price of 20 pence per share in lieu of professional services provided (“Fee Shares”).

Admission and Total Voting Rights

Application has been made for the 550,000 Warrant Shares and the 37,500 Fee Shares to be admitted to the standard segment of the Official List and to trading on the main market for listed securities of the London Stock Exchange, and admission of the Warrant Shares and the Fee Shares is expected to occur on or around 29 September 2022 (“Admission”). The Warrant Shares and the Fee Shares will rank pari passu with the existing Ordinary Shares.

For the purpose of the Disclosure and Transparency Rules, following Admission the enlarged issued share capital of the Company will comprise 53,247,235 Ordinary Shares. The Company does not hold any shares in treasury. The above figure 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 a change to their interest in, the Company, under the Disclosure and Transparency Rules.

Extension of Warrants granted in September 2020

The Company has the following number of warrants outstanding, which are exercisable on or before 28 September 2022: (i) 3,140,000 warrants exercisable at 10 pence per share (“10p Warrants”); and (ii) 3,550,714 warrants exercisable at 5 pence per share (“5p Warrants”) (together the “IPO Warrants”). These IPO Warrants were granted at the time of the admission of the Company’s Ordinary Shares to the standard segment of the Official List and to trading on the main market for listed securities of the London Stock Exchange plc on 29 September 2020.

The Board of the Company has decided to extend the date by which the IPO Warrants are to be exercised to 31 March 2023.  All other terms and conditions of the IPO Warrants remain the same.

The Directors of the Company hold certain of the IPO Warrants, as follows:

Director IPO Warrants Exercise Price Date of Grant
Russell Fryer 571,428 5p 29/9/20
Russell Fryer 400,000 10p 29/9/20
Anthony Eastman* 1,000,000 5p 29/9/20
Marcus Edwards-Jones 200,000 5p 29/9/20

*Held by Orana Corporate LLP, of which Anthony Eastman is a partner

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

**ENDS**

For further information on the Company please visit www.criticalmetals.co.uk or contact:

Russell Fryer Critical Metals plc Tel: +44 (0)20 7236 1177
Rory Murphy / James Bellman Strand Hanson Limited
Financial Adviser
Tel: +44 (0)20 7409 3494
Lucy Williams / Heena Karani Peterhouse Capital Limited, Corporate Broker Tel: +44 (0)20 7469 0936
Tel: +44 (0)20 7469 0933
Catherine Leftley/Isabelle Morris St Brides Partners Ltd, Financial PR Tel: +44 (0)20 7236 1177

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