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Loan Facility Agreement

25 Sep 2025 07:00

RNS Number : 7170A
Bradda Head Lithium Ltd
25 September 2025
 

25 September 2025

Bradda Head Lithium Limited

(the "Company")

 Loan Facility Agreement

 

Bradda Head Lithium Limited (AIM:BHL), the North America-focused lithium development group, announces that it has entered into a short-term loan facility agreement ("Galloway Facility") with Galloway Limited, a related party. The funding is provided in connection with the undertaking made by Galloway Limited as noted in the statutory accounts for the year ending 28 February 2025 to provide support for the Company to maintain its good standing and will be used for general working capital purposes.

A summary of the terms of the Galloway Facility is set out below:

· US$ 500,000 facility made available (no fees or set-off or contribution to costs);

· Drawn down at the request of the Company (subject to agreed use of proceeds with Galloway Limited);

· One year availability and repayment term;

· Unsecured;

· Interest at 12% per annum;

· Accelerated repayment if Company completes an equity fundraising during the term of the loan; and

· Standard events of default and warranties from both parties.

AIM Rule 13

As Jim Mellon and Denham Eke are both directors of the Company, and Jim Mellon is the 100% beneficial owner of Galloway Limited and Denham Eke its Managing Director, the provision of the Galloway Facility is a Related Party Transactions under the AIM Rules. Accordingly, the independent directors, being Ian Stalker, Alex Borrelli and Euan Jenkins, having consulted with the Group's Nominated Adviser, consider that the terms of the Galloway Facility are fair and reasonable insofar as the Company's shareholders are concerned.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014, as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

For further information, please contact:

 

Bradda Head Lithium Limited

 

Beaumont Cornish

 

Panmure Liberum

Shard Capital

 

Tavistock

 

Company

Nomad

Joint Broker

Joint Broker

Investor Relations

Ian Stalker, Executive Chair

Denham Eke, Finance Director

James Biddle /

Roland Cornish

Rauf Munir

Damon Heath / Isabella Pierre

Nick Elwes /

Josephine Clerkin 

+44 1624 639 396

+44 20 7628 3396

+44 20 7886 2500

+44 207 186 9927

+ 44 20 7920 3150

braddahead@tavistock.co.uk

 

 

About Bradda Head Lithium Ltd.

Bradda Head Lithium Ltd. is a North America-focused lithium development group. The Company currently has interests in a variety of projects, the most advanced of which are in Central and Western Arizona: The Basin Project (Basin East Project and Basin West Project) and the San Domingo Project.

The Basin East Project has a Measured Mineral Resource of 20 Mt at an average grade of 929 ppm Li for a total of 99 kt LCE and an Indicated Mineral Resource of 122 Mt at an average grade of 860 ppm Li and an Inferred Mineral Resource of 499 Mt at an average grade of 810 ppm Li for a total of 2.81 Mt LCE. The Group intends to continue to develop its three phase one projects in Arizona, whilst endeavouring to unlock value at its other prospective pegmatite and brine assets in Arizona, Nevada, and Pennsylvania. All of Bradda Head's licences are held on a 100% equity basis and are in close proximity to the required infrastructure. Bradda Head is quoted on the AIM of the London Stock Exchange with the ticker of BHL.

Nominated Advisor

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.

 

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