Reminder - 21 July 202530 Jul 2025 14:51
Metals One PLC (AIM:MET1) signed a binding term sheet to acquire Uranium and vanadium exploration projects in the United States from 1491434 B.C. Ltd. for $0.3 million on April 24, 2025. Metals One PLC (AIM:MET1) executed a share purchase agreement to acquire Uranium and vanadium exploration projects in the United States from 1491434 B.C. Ltd. on May 1, 2025. The consideration payable to 1491434 B.C. Ltd. on completion of the conditional acquisition is $0.1 million in cash and the issue of 1,000,000 new ordinary shares in Metals One at a value per share equivalent to a 5% discount to the five-day volume weighted average price per ordinary share in Metals One for the five days immediately preceding the entering into of this term sheet, conditional on the claims having converted into exploration leases. 1491434 B.C. Ltd. has agreed to a 30-day exclusivity period in respect of the Conditional Acquisition and will be subject to a one-month lock-in in respect of the consideration Shares. As of July 2, 2025, the acquisition of Uravan Uranium-Vanadium Project is completed. The total consideration for the acquisition is $0.05 in cash and the issuance of 500,000 new ordinary shares in Metals One, representing half of the aggregate consideration due for the acquisitions of both Uravan and the Squaw Creek Uranium Project, Wyoming, with the latter also expected to complete soon. As of July 21, 2025, the acquisition of Squaw Creek Claims is completed.
The Conditional Acquisition will also be subject to and conditional upon: Metals One having conducted, and being reasonably satisfied with, legal, technical and financial due diligence on the Claims, Metals One and 1491434 B.C entering into a sale and purchase agreement in respect of the Conditional Acquisition, the execution by 1491434 B.C of a one-month lock-in agreement in respect of the Consideration Shares and all and any applicable and necessary consents, authorities or approvals required from any applicable statutory or quasi statutory body regulating the mining industry in Wyoming and Colorado consenting to the change of control of the Claims.
James Biddle and Roland Cornish of Beaumont Cornish Limited acted as nominated advisor to Metals One in the transaction. Nick Emerson of SI Capital Limited, Jonathan Critchley of Capital Plus Partners Limited acted as joint broker to Metals One. Ben Simons, Kendall Hill and Anna Stacey of Vigo Consulting and Fairfax Partners Inc acted as UK investor relations and North America investor relations advisors to Metals One.
Metals One PLC (AIM:MET1) completed the acquisition of Uranium and vanadium exploration projects in the United States from 1491434 B.C. Ltd. July 21, 2025.
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