Fundraise of £500,000

Technology Minerals PLC

06 July 2023

 

The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain. 

6 July 2023

Technology Minerals Plc 

("Technology Minerals" or the "Company") 

Fundraise of £500,000

Technology Minerals Plc (LSE: TM1), the first listed UK company focused on creating a sustainable circular economy for battery metals, is pleased to announce that it has raised £500,000 from a long-term shareholder through the issue of convertible loan notes (the "Convertible Loan Notes" or "CLNs").

The Convertible Loan Notes carry a coupon of 6% for a term of six months from issue and are convertible into Ordinary Shares at 1.8 pence per Ordinary Share. 

The CLNs will provide further support as the Company continues its twin-track growth strategy to create a circular economy for battery metals through the scale up of operations at Recyclus' lithium-ion battery recycling plant in Wolverhampton, UK, and the development of its battery metals exploration assets.

Alex Stanbury, CEO of Technology Minerals, said: "We are pleased to secure funding from a long-term shareholder, as Recyclus' industrial-scale lithium-ion battery recycling plant enters the commissioning phase, and we progress our exploration assets."

Enquiries

Technology Minerals Plc
Robin Brundle, Executive Chairman Alexander Stanbury, Chief Executive Officer	c/o [phone]
Oberon Investments Limited
Nick Lovering, Adam Pollock	[phone]
Gracechurch Group
Harry Chathli, Alexis Gore, Rebecca Scott	[phone]

Technology Minerals Plc 

Technology Minerals is developing the UK's first listed, sustainable circular economy for battery metals, using cutting-edge technology to recycle, recover, and re-use battery technologies for a renewable energy future. Technology Minerals is focused on extracting raw materials required for Li-ion batteries, whilst solving the ecological issue of spent Li-ion batteries, by recycling them for re-use by battery manufacturers. With the increasing global demand for battery metals to supply electrification, the group will explore, mine, and recycle metals from spent batteries. Further information on Technology Minerals is available at www.technologyminerals.co.uk  

 

END