Conditional Subscription to raise £2,000,000

Harena Rare Earths PLC

18 February 2026

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE UK MARKET ABUSE REGULATION (EU NO. 596/2014 AS IT FORMS PART OF DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

18 February 2026

Harena Rare Earths Plc

("Harena" or the "Company")

Conditional Subscription to raise £2,000,000

 

Harena Rare Earths Plc (LSE: HREE, OTCQB: CRMNF), the rare earths company focused on the Ampasindava ionic clay rare earth project in Madagascar (the "Ampasindava Project"), is pleased to announce that it has raised gross proceeds of £2.0 million through a direct subscription for 90,909,090 new ordinary shares of 0.5 pence each in the Company (the "Subscription Shares") by a prominent international investor (the "Subscription"). The Subscription Shares will be issued at a price of 2.20 pence per new Subscription Share (the "Subscription Price").

The Subscription Shares will be issued pursuant to the Company's existing authorities to allot shares. The Subscription is conditional upon Admission (as defined below).

 

Use of Proceeds

 

The net proceeds of the Subscription will be used for the continuation of development work on the Ampasindava Project, engagement with the U.S. International Development Finance Corporation ("DFC") and for ongoing working capital requirements.

 

Admission

 

Application will be made for the Subscription Shares to be admitted to trading on the Main Market of the London Stock Exchange ("Admission"). Admission is expected to take place at 8.00 a.m. on or around 23 February 2026.

Ivan Murphy, Executive Chairman of Harena, said:

"I am delighted to welcome this new globally recognised international investor, whose investment is another endorsement of our world-class rare earth project and our strategy for its development."

For further information please contact:

Harena Rare Earths Plc Ivan Murphy, Executive Chairman Allan Mulligan, Executive Technical Director	[phone]
SP Angel - Joint Broker Ewan Leggat / Josh Ray (Corporate Finance)	[phone]
Marex Financial - Corporate Advisor Angelo Sofocleous / Keith Swann / Matt Bailey (Broking)	[phone] [e-mail]
Allenby Capital - Financial Adviser & Joint Broker Jeremy Porter / Vivek Bhardwaj (Corporate Finance) Amrit Nahal / Kelly Gardiner (Sales & Corporate Broking)	[phone] [e-mail]
Muriel Siebert & Co. - US Financial Adviser & Broker Ajay Asija, Co-Head of Investment Banking	[phone] [e-mail]
Celicourt Communications - Public Relations Mark Antelme / Charles Denley-Myerson	[phone] [e-mail]

Notes to editors

Harena (www.harenaresources.com) is a rare earths exploration and development company focused on the Ampasindava Ionic Clay Rare Earth Project in Madagascar (Harena's interest is 100%). The project hosts one of the largest ionic clay rare earth deposits outside of China, with significant concentrations of high-value magnet metals, specifically heavy rare earths, including neodymium (Nd), dysprosium (Dy), and praseodymium (Pr), which are critical for the composition of neodymium magnets (NdFeB). Harena is committed to low-impact, high recovery mining, providing a sustainable supply of critical minerals for the global energy transition and military defence industries as well as meeting the ever-growing demand for NdFeB from the robotics sector.

 

END