BCN.L Regulatory News (BCN)

(a) Full name of discloser:

Ganfeng International Trading (Shanghai) Limited ("Ganfeng")

(b) Owner or controller of interests and short positions disclosed, if different from 1(a):

The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.

N/A

(c) Name of offeror/offeree in relation to whose relevant securities this form relates:

Use a separate form for each offeror/offeree

Bacanora Lithium Plc

(d) Is the discloser the offeror or the offeree?

OFFEROR

(e) Date position held:

The latest practicable date prior to the disclosure

19 MAY 2021

(f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?

If it is a cash offer or possible cash offer, state "N/A"

N/A

Class of relevant security:

Ordinary shares of 10 pence each

Interests

Short positions

Number

%

Number

%

(1) Relevant securities owned and/or controlled:

57,600,364

17.41

Nil

-

(2) Cash-settled derivatives:

Nil

-

Nil

-

(3) Stock-settled derivatives (including options) and agreements to purchase/sell:

Nil

-

Nil

-

TOTAL:

57,600,364

17.41

Nil

-

Class of relevant security in relation to which subscription right exists:

Ordinary shares of 10 pence each

Details, including nature of the rights concerned and relevant percentages:

As announced on 5 February 2021, Ganfeng has agreed to exercise its pre-emptive right to subscribe for a total of 53,333,333 new ordinary shares in Bacanora Lithium Plc. Completion of this investment was conditional upon obtaining certain approvals and consents from authorities in the People's Republic of China which have now been received and the subscription is expected to complete shortly. On completion of its investment Ganfeng will hold 110,933,697 shares, representing 28.88% of the enlarged issued share capital.

Following the subscription, Ganfeng will retain its pre-emption right granted pursuant to its strategic investment in Bacanora on 14 October 2019. This pre-emption right gives Ganfeng the option to maintain its shareholding at its current level in the event of the issue of new shares by Bacanora.

Details of any interests, short positions and rights to subscribe (including directors' and other employee options) of any person acting in concert with the party to the offer making the disclosure:

N/A

Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the party to the offer making the disclosure or any person acting in concert with it:

Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state "none"

None

Details of any agreement, arrangement or understanding, formal or informal, between the party to the offer making the disclosure, or any person acting in concert with it, and any other person relating to:

(i) the voting rights of any relevant securities under any option; or

(ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:

If there are no such agreements, arrangements or understandings, state "none"

None

Supplemental Form 8 (Open Positions)

NO

Supplemental Form 8 (SBL)

NO

20 MAY 2021

Roy Zhang Tong

+86 02150809566 8004