Critical
Mineral Resources PLC
('CMR' or
the 'Company')
Conversion of Loan Notes
Critical Mineral Resources PLC, the
exploration and development company focused on critical metals and
minerals in Morocco announces that it has
received notice to convert the principal amount of a Convertible
Loan Note, together with accrued and unpaid interest thereon
("CLNs") amounting to a total of £33,750.68. As a result the
Company has issued 3,068,243 new ordinary shares of £0.01 each in
the Company ("Ordinary Shares") (the "CLN
Shares").
Admission
Application has been made for the
CLN Shares to be admitted to trading on the main market for listed
securities of the London Stock Exchange, and admission of the CLN
Shares is expected to occur on 28 October 2024 ("Admission"). The
CLN Shares will rank pari passu with the existing
Ordinary Shares.
Following Admission, the enlarged
issued share capital of the Company will comprise 83,867,102
ordinary shares of which the Company holds 2,666,666 in treasury
and is not permitted to exercise the attached voting rights.
Therefore, Total Voting Rights calculations should be based on the
figure 81,200,436 to determine if shareholders are required to
notify their interest, or a change to their interest, under the
Disclosure and Transparency Rules.
CONTACT:
|
Critical Mineral Resources PLC
Charles Long, Chief Executive
Officer
|
info@cmrplc.com
|
|
Novum Securities
Jon Belliss
|
+44 (0) 20 7399 9425
|
Notes To Editors
Critical Mineral Resources (CMR) PLC
is an exploration and development company focused on developing
assets that produce key commodities for the global economy
including those essential for electrification and the clean energy
revolution. Many of these commodities are widely recognised as
being at the start of a supply and demand supercycle.
CMR is building a diversified
portfolio of high-quality metals exploration and development
projects in Morocco, focusing on copper, manganese and potentially
other critical minerals and metals. CMR identified Morocco as an
ideal mining-friendly jurisdiction that meets its acquisition and
operational criteria. The country is perfectly located to supply
raw materials to Europe and possesses excellent prospective
geology, good infrastructure and attractive permitting, tax and
royalty conditions. In 2023, the Company acquired an 80% stake in
leading Moroccan exploration and geological services company
Atlantic Research Minerals SARL.
Since taking over the CMR in 2022,
the current management has completed a comprehensive strategic
review and restructuring of the business and implemented its clear
strategy to maximise exploration and resource development
opportunities for the benefit of all stakeholders. The Company is
listed on the London Stock Exchange (CMRS.L). More information
regarding the Company can be found
at www.cmrplc.com
