Term Sheet Agreed for £1.25m Loan Facility

Unicorn Mineral Resources plc

03 July 2026

 

Unicorn Mineral Resources Plc

("Unicorn", or "the Company")

3 July 2026

Term Sheet Agreed for £1.25m Loan Facility

Unicorn Mineral Resources Plc, (LSE: UMR), a mineral exploration and development company exploring for Zinc, Lead, Copper and Silver, announces that it has agreed the principal terms of a one year, £1,250,000 unsecured loan facility with its Chairman, Mr Paddy Doherty (the "Loan Facility").

The Loan Facility remains subject to completion of formal loan documentation, signing of the formal sale and purchase agreements for the proposed Klein Aub Copper Mine acquisition, and receipt of any applicable regulatory approvals.  These are all expected to be completed shortly in July 2026.  The Company will provide further announcements on these in due course.

The Loan Facility is to be used by the Company to fund the proposed acquisition of the Klein Aub Copper Mine, associated transaction costs, working capital requirements and operational expenditure across the Company's activities in Namibia and Ireland.

Related Party Transaction

Mr Paddy Doherty, Chairman of the Company and a significant shareholder, is a related party of the Company for the purposes of the UK Listing Rules.  Accordingly, entry into the facility agreement constitutes a material related party transaction.  The independent Directors consider that the terms of the facility are fair and reasonable as far as shareholders of the Company are concerned.

Loan Facility Overview

·      Facility amount: £1,250,000

·      Term: one year from first drawdown

·      Conversion Rights: None

·      Interest rate: 10% per annum, payable at maturity

·      Establishment fee: 3% (£37,500), payable at maturity

·      Drawdown: single drawdown, subject to satisfaction of the conditions precedent

·      Security: unsecured facility

Drawdown under the facility is subject to satisfaction of the following conditions precedent:

·      completion of formal legal loan documentation;

·      receipt of any required regulatory approvals; and

·      execution of acquisition documentation for the Klein Aub Copper Mine in Namibia.

The Loan Facility agreement includes other standard terms and conditions that are customary for a loan facility of this nature.

This announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended).

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For further information, please visit www.unicornmineralresources.com or contact:

Unicorn Mineral Resources Plc John O'Connor, CFO Tel: [phone] Email: [e-mail]	AlbR Capital Limited Financial Adviser and Broker David Coffman / Daniel Harris Colin Rowbury Tel: [phone]
focusIR Katrina Perez / Paul Cornelius Tel: [phone] Email: [e-mail]

 

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