£1.66 million Amended Funding Package

Hamak Strategy Limited

02 July 2026

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN OR INTO AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, THE UNITED STATES, ANY TERRITORY OR POSSESSION THEREOF OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.

2 July 2026

Hamak Strategy Limited

("Hamak" or the "Company")

£1.66 million Amended Funding Package Removes Convertible Debt and Strengthens Funding Flexibility

Hamak Strategy Limited (LSE: HAMA / OTCQB: HASTF), a company combining advanced gold exploration in West Africa with a disciplined Digital Asset Treasury Management strategy, is pleased to announce that it has entered into an amendment and restatement of its existing funding arrangements with YA II PN Ltd (the "Lender"), an institutional investor managed by Yorkville Advisors Global, LP.

The amended package restates the outstanding balance of the previous £2.5 million convertible loan note announced on 4 December 2025 into a non-convertible loan of £1,657,671.23. The Board believes the revised structure materially improves funding visibility, removes the conversion rights attached to the previous CLN and provides a clearer repayment pathway while allowing the Company to retain working capital flexibility for its operational and strategic objectives.

Highlights

• Outstanding CLN balance restated into a non-convertible loan of £1,657,671.23.

• No penalties and no restructuring fees, other than £20,000 of legal fees in connection with the required documentation.

• Interest rate remains at 4% per annum.

• Amortisation commences 60 days after entry into the new loan agreement and then follows an agreed repayment schedule over the subsequent ten months.

• Hamak may retain the first £110,000 of cash raised through its existing At The Market Facility ("ATM"), with 50% of ATM proceeds thereafter applied to reduce the outstanding loan balance.

• Warrants are exercisable at 1p per share, a 54% premium to the offer price of the Company's shares on 1 July 2026 and are exercisable on a cash basis only.

New Loan Agreement

The new funding package represents an amendment and restatement, without penalties, of the previous £2.5 million Convertible Loan Note announced on 4 December 2025 (the "CLN"). The new loan amount is £1,657,671.23, representing the outstanding balance of the previous CLN.

Importantly, the new loan has no conversion rights attached to it. The interest rate remains at 4% per annum and there are no fees attached to the restatement save for £20,000 of legal fees in drafting the required documents.

Amortisation of the loan will commence 60 days from entering into the new loan agreement and will follow an agreed repayment schedule between the Company and the Lender over the subsequent ten months. If the Company utilises its existing ATM to raise funds from the issue of new shares, it will be entitled to retain the first £110,000 in cash raised and, thereafter, use 50% of ATM proceeds towards reducing the outstanding balance of the loan.

Warrants

The Company will issue the Lender 165,767,123 warrants over new ordinary shares, each exercisable at £0.01 per share, being a 54% premium to the offer price of the Company's shares on 1 July 2026. The warrants shall be exercisable for three years and shall be exercised on a cash basis.

If exercised in full, the warrants would generate approximately £1.66 million of gross cash proceeds for the Company, further aligning the Lender with the future equity performance of Hamak.

Mike Murphy, Chief Strategy Officer and Executive Director of Hamak, commented:

"This is an important step forward for Hamak. By restructuring the existing convertible loan into a non-convertible facility, while preserving a 4% coupon and agreeing a sensible repayment profile, we have reduced a key area of uncertainty for shareholders and strengthened the Company's funding position.

"The structure gives Hamak greater flexibility to focus capital on advancing Akoko, progressing our West African gold portfolio and continuing to develop our disciplined Bitcoin treasury strategy. We are pleased that Yorkville has remained supportive and that its potential upside is now aligned through cash-exercise warrants at a premium to the 30 June offer price. In our view, this package gives Hamak a cleaner platform from which to execute its strategy at an important stage in the Company's development."

For the purposes of UK MAR, the person responsible for arranging release of this announcement on behalf of Hamak is Karl Smithson, CEO and Executive Director.

For further information on Hamak you are invited to view the Company's website at https://hamakstrategy.com/ or please contact:

Hamak Strategy Limited Karl Smithson, CEO and Executive Director Mike Murphy, CSO and Executive Director	[e-mail] [e-mail]
AlbR Capital Limited (Corporate Broker)	[phone]
Yellow Jersey PR Annabelle Wills	[phone]

About Hamak Strategy Limited

Hamak Strategy Limited (LSE: HAMA / OTCQB: HASTF) is a UK listed company focused on gold exploration in Africa and a Digital Asset Treasury Management strategy focused on Bitcoin.

About Yorkville

Yorkville Advisors Global, LP is an investment manager providing flexible financing solutions to businesses worldwide. Since its inception, Yorkville has structured and executed transactions totalling approximately $7.5 billion with more than 750 companies in 22 countries.

Important Notice

The Company maintains some of its treasury reserves and surplus cash in Bitcoin, a form of cryptocurrency. The Company is not authorised or regulated by the Financial Conduct Authority (FCA) and Bitcoin investments are generally not subject to regulation by the FCA or otherwise in the United Kingdom. Neither the Company nor investors in the Company's shares are protected by the UK's Financial Ombudsman Service or the Financial Services Compensation Scheme.

However, the FCA considers Bitcoin investments to be high-risk. The value of Bitcoin can go up as well as down, leading to fluctuations in the value of the Company's Bitcoin holdings, and the Company may not be able to realise its Bitcoin holdings for the same amount it paid to acquire them, or even for the value the Company currently attributes to its Bitcoin positions.

The Company's Board of Directors has identified the following risks in relation to the holding of Bitcoin, which are not exhaustive:

• The value of Bitcoin can be highly volatile, with its value falling as quickly as it rises. Investors in Bitcoin must be prepared to lose all money invested.

• The Bitcoin market is largely unregulated. There is a risk of losing money due to factors such as cyber-attacks, financial crime and counterparty failure.

• The Company may not be able to sell its Bitcoin at will. The ability to sell Bitcoin depends on various factors, including supply and demand in the market at the relevant time. Operational failings such as technology outages, cyber-attacks and commingling of funds could cause unwanted delays.

• Cryptoassets carry a perception of fraud, money laundering and financial crime.

An investment in the Company is not an investment in Bitcoin itself, but prospective investors in the Company are encouraged to conduct their own research before investing and should be aware that they will have indirect exposure to the high-risk nature of cryptoassets, including their volatility, and could therefore sustain large or total losses of their investment.

 

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