08
November 2024
Variation of Warrants and Issue of New
Shares
Aterian Plc
("Aterian" or the
"Company")
Aterian Plc (LSE: ATN),
("Aterian" or the "Company") announces a
variation to the terms of certain warrants and an issue of new
shares.
The Company has in issue
1,295,718 warrants to subscribe for new ordinary shares of 10 pence
each ("Shares") at an exercise price of 150 pence, exercisable at
any time until 30 December 2025 ("Warrants"). Holders of the
Warrants were given the opportunity to voluntarily accept a change
to these terms such that the exercise price was lowered to 50 pence
and the expiration date amended to 14 November 2024. The
holders of 270,834 Warrants elected to accept these amended terms
with the remainder choosing to remain on the original
terms.
Consequently, the Company
has issued a total of 270,834 Shares at a price of 50 pence per
share from the exercise of warrants and issued an additional 86,400
ordinary Shares at 50 pence per share to certain suppliers in lieu
of outstanding fees. The proceeds of the warrant exercise will be
used for general corporate and financial expenses.
Those warrant holders not taking up the offer
retain their warrant positions which remain as they were prior to
the the offer.
Application is being made
for the 357,234 new Shares to be admitted to the Official List and
to trading on the Main Market of the London Stock Exchange which is
expected to be on or around 14 November 2024. These shares rank
pari passu with the existing Shares of the Company. Following
the issue of the 357,234 new Shares, the Company's issued ordinary
share capital shall consist of 12,037,044
Shares.
This figure of
12,037,044 represents the total voting rights in the Company
and should 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
& Transparency Rules.
- ENDS -
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).
For further information, please visit the
Company's website: www.aterianplc.com or
contact:
Aterian Plc:
Charles Bray, Executive Chairman - charles.bray@aterianplc.com
Simon Rollason, Director - simon.rollason@aterianplc.com
Financial Adviser and Joint
Broker:
Novum Securities Limited
David Coffman / George Duxberry
Colin Rowbury
Tel: +44 (0)207 399 9400
Joint Broker:
SP Angel Corporate Finance LLP
Ewan Leggat / Adam Cowl
Tel: +44 20 3470 0470
Financial PR:
Bold Voodoo
- ben@baldvoodoo.com
Ben Kilbey
Tel: +44 (0)7811 209 344
Notes to Editors:
About Aterian plc
www.aterianplc.com
Aterian plc is an LSE-listed exploration
and development company with a diversified African portfolio of
critical metals projects.
Aterian plc is actively seeking to acquire and develop new
critical metal resources to strengthen its existing asset base
whilst supporting ethical and sustainable supply chains as the
world transitions to a sustainable, renewable future. The
supply of these metals is vital for the development of the
renewable energy, automotive and electronic manufacturing sectors
that are playing an increasing role in reducing carbon emissions
and meeting climate ambitions globally.
The Company has entered into a joint venture
agreement with Rio Tinto Mining and Exploration
Limited for Rio Tinto to earn into the HCK project in
southern Rwanda and holds two further partnerships
in Rwanda exploring and developing
lithium-tantalum-niobium-tin mining operations. Aterian currently
holds a portfolio of multiple copper-silver and base metal projects
in the Kingdom of Morocco, with a total area of 897
km2. In January 2024, the Company announced the
acquisition of a 90% interest in Atlantis Metals. This private
Botswana registered company holds seven mineral prospecting
licences for copper-silver in the Kalahari Copperbelt and three for
lithium brine exploration in the Makgadikgadi Pans region. The
total licence area in Botswana is 4,486 km2.
The Company's strategy is to seek new
exploration and production opportunities across the African
continent and to develop new sources of critical mineral assets for
exploration, development, and trading.