Bezant Resources PLC Regulatory News (BZT)

27 February 2025

Bezant Resources Plc

("Bezant" or the "Company")

Funding Facility Repayment Extension

Bezant (AIM: BZT), the copper-gold exploration and development company, further to its announcements of 23 November 2021, 30 June 2022, 15 June 2023 and 5 March 2024 confirms that it has by an agreement dated 26 February 2025 agreed with Sanderson Capital Partners Limited ("Sanderson Capital" or the "Lender") a long-term shareholder in the Company to extend the repayment date for the £700,000 drawn down under the unsecured convertible loan funding facility entered into with Sanderson Capital on 22 November 2021 (the "Facility") (the "Agreement"). The £700,000 drawdown is now repayable by 31 July 2026 and convertible by the Lender at the fixed price of 0.025 pence per share (the "New Conversion Price"). No further amounts can be drawn down under the Facility.

The Company and the Lender have also agreed that:

i) the expiry date of the 437,500,000 warrants exercisable at 0.12 pence and expiring on 14 June 2025 shall be extended by one year to 14 June 2026;

ii) the Company has an option to convert all or part of the £700,000 drawdown if the Company's share price exceeds 0.05 pence for 10 or more business days and

iii) the Company may at its sole election prepay the whole or part of the Loan on any day prior to its maturity date upon giving not less than 20 days' prior written notice to the Lender ("Prepayment Notice") and paying the Lender a cash premium equal to X where X = 25% multiplied by ((the number of days from date of receipt of the Loan to the repayment date) divided by 360). The Company may issue more than one Prepayment Notice. Once a Prepayment Notice has been given the Lender cannot convert that portion of the Loan that the Prepayment Notice relates to.

The New Conversion Price is at a 13 % premium to the closing price of 0.022 pence per share on 26 February 2025 the last practical date before the issue of this announcement and a 25% premium to the fundraising price of 0.02 pence in relation to the Company's £560,000 fundraising announced on 24 December 2024.

Further AIM Disclosures

Sanderson Capital Partners Ltd have confirmed that they and associates are interested in 761,469,231 shares in the Company representing 4.83% of the Company's current issued share capital.

For further information, please contact:

or visit http://www.bezantresources.com

For further information, please contact:

or visit http://www.bezantresources.com

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law pursuant to the Market Abuse (Amendment) (EU Exit) regulations (SI 2019/310).

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.