Pricing of Upsized U.S. Initial Public Offering
Summary by AI BETAClose X
March 20, 2026
Guardian Metal Resources plc
("Guardian Metal" or the "Company")
Guardian Metal Announces Pricing of Upsized U.S. Initial Public Offering
Guardian Metal Resources plc (LON:GMET OTCQX:GMTLF), a U.S.-focused exploration-stage company focused on tungsten in Nevada, United States, is pleased to announce the pricing of its initial public offering in the United States of 4,444,400 American Depositary Shares ("ADSs"), representing 22,222,000 new ordinary shares ("ADS Shares"), at an initial public offering price of $13.50 per ADS for gross proceeds of approximately $60 million, before underwriting discounts and commissions and offering expenses. All ADSs sold in the initial public offering were offered by Guardian Metal.
Guardian Metal has granted the underwriters a 45-day option to purchase up to an additional 666,660 ADSs. The offering is expected to close on March 24, 2026, subject to customary closing conditions.
The ADSs are expected to begin trading on the NYSE American on March 20, 2026 under the ticker symbol "GMTL".
BMO Capital Markets Corp. is acting as lead book-running manager; Cantor Fitzgerald & Co. is acting as bookrunning manager; and D.A. Davidson & Co. and Berenberg Capital Markets LLC are each acting as co-managers for the offering.
Tamesis Partners LLP is acting as capital markets advisor to Guardian Metal.
A registration statement relating to these securities became effective on March 19, 2026. The offering is being made only by means of a prospectus. When available, copies of the final prospectus related to the offering can be obtained from: BMO Capital Markets Corp., Attn: Equity Syndicate Department, 151 W 42nd Street, 32nd Floor, New York, NY 10036, or by email at bmoprospectus@bmo.com.
ADMISSION AND TOTAL VOTING RIGHTS
Application will be made for the ADS Shares to be admitted to trading on AIM, which is expected to occur on or around March 24, 2026 ("Admission"). The ADS Shares will rank pari passu in all respects with the ordinary shares of the Company currently traded on AIM.
Following Admission, the Company's issued share capital will comprise 190,950,216 ordinary shares of £0.01 each. This number will represent the total voting rights in the Company and may be used by shareholders as the denominator for the calculation by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
For the avoidance of doubt, such prospectus will not constitute a "prospectus" for the purposes of (i) Regulation (EU) 2017/1129 (the "EU Prospectus Regulation") and will not have been reviewed by any competent authority in any EU member state or (ii) the UK's Public Offers and Admissions to Trading Regulations 2024 (the "POATRs") and will not have been reviewed by the Financial Conduct Authority. A registration statement relating to the ADSs has been filed with, and declared effective by, the U.S. Securities and Exchange Commission (the "SEC"). Copies of the registration statement can be accessed through the SEC's website at www.sec.gov. This announcement does not constitute or form part of an offer to sell or issue, or a solicitation of an offer to subscribe for or buy securities. Neither this announcement nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer, solicitation, sale or commitment whatsoever in any jurisdiction in which such offer, solicitation, sale or commitment would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.
In any member state of the European Economic Area (the "EEA") this announcement and any offering are only addressed to and directed at persons who are "qualified investors" ("EU Qualified Investors") within the meaning of the EU Prospectus Regulation. In the United Kingdom, this announcement and any offering are only addressed to and directed at persons who are qualified investors within the meaning of paragraph 15 of Schedule 1 of the POATRs ("UK Qualified Investors") and who are investment professionals as specified in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Financial Promotion Order") or high net worth companies, unincorporated associations etc. as defined in Article 49(2) of the Financial Promotion Order, or to other persons to which it may otherwise lawfully be communicated or caused to be communicated (all such persons being referred to as "relevant persons").
This announcement must not be acted on or relied on (i) in the United Kingdom, by persons who are not relevant persons, and (ii) in any member state of the EEA, by persons who are not EU Qualified Investors. Any investment or investment activity to which this announcement relates is available only to and will only be engaged with (i) in the United Kingdom, relevant persons, and (ii) in any member state of the EEA, EU Qualified Investors.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018).
Forward Looking Statements
This announcement contains forward-looking statements relating to expected or anticipated future events and anticipated results that are forward-looking in nature, including statements with regard to Guardian Metal's expectation regarding the commencement of trading of ADSs on the NYSE American and the completion of the securities offering, and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, competition for qualified staff, the regulatory process and actions, technical issues, new legislation, uncertainties resulting from potential delays or changes in plans, uncertainties resulting from working in a new political jurisdiction, uncertainties regarding the results of exploration, uncertainties regarding the timing and granting of prospecting rights, uncertainties regarding the timing and granting of regulatory and other third party consents and approvals, uncertainties regarding Guardian Metal's or any third party's ability to execute and implement future plans, and the occurrence of unexpected events. Completion of the offering and the terms thereof are subject to numerous factors, many of which are beyond the control of Guardian Metal, including, without limitation, market conditions, failure of customary closing conditions and the risk factors and other matters set forth in Guardian Metal's filings with the SEC. Guardian Metal undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.
The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may or should be placed by any person for any purpose on the information contained in this announcement or its accuracy, fairness or completeness. The information in this announcement is subject to change.
For further information in the United States contact the following:
|
Edelman Smithfield Financial PR in the United States
|
guardianmetal@edelmansmithfield.com |
For further information in the United Kingdom contact the following:
|
Guardian Metal Resources plc Oliver Friesen (CEO) |
Tel: +44 (0) 20 7078 8496 |
|
Cairn Financial Advisers LLP Nominated Adviser Sandy Jamieson/Jo Turner/Louise O'Driscoll |
Tel: +44 (0) 20 7213 0880 |
|
Berenberg Joint Broker and Financial Adviser Jennifer Lee/Ivan Briechle |
Tel: +44 (0) 20 3207 7800 |
|
Tamesis Partners LLP Joint Broker Charlie Bendon/Richard Greenfield |
Tel: +44 (0) 20 3882 2868 |
|
Tavistock Financial PR in the UK Emily Moss/Josephine Clerkin |
Tel: +44 (0) 7920 3150 / +44 (0) 7788 554035 |
About Guardian Metal Resources
Guardian Metal Resources PLC (LON: GMET, OTCQX: GMTLF) is a U.S.-focused exploration-stage company focused on tungsten in Nevada, United States. Its principal tungsten asset is the Pilot Mountain project, followed by the Tempiute project, which are both situated in historic tungsten districts with well-known occurrences of mineralization that have seen prior tungsten mining activity by third parties.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
Latest directors dealings
- 1 day ago Savannah Energy
- 1 day ago Buccaneer Energy PLC
- 1 day ago Savannah Energy
- 1 day ago Carclo
- 1 day ago Schroder Japan Growth Fund