Kodal Minerals Regulatory News (KOD)

Kodal Minerals plc ("Kodal Minerals" or the "Company")

Final loan conversion and change to total voting rights

Kodal Minerals, the mineral exploration and development company, announces that it has received a conversion notice in relation to the final US$200,000 of the US$1.5 million unsecured convertible loan agreement (the 'Loan Agreement') with Riverfort Global Opportunities PCC Limited and YA II PN Ltd (the 'Investors'), details of which were announced on 15 July 2020.

The Investors have elected to convert a total amount of US$200,000 (equivalent to £144,160), made up of a principal amount of US$200,000 and no accrued interest, into 168,489,949 new ordinary shares of 0.03125p each in the Company ("Ordinary Shares"), at a price of 0.08556 pence per Ordinary Share. This notice represents the final conversion and following this there will be no further amounts outstanding to the Investors from the US$1.5 million agreement.

Application will be made for the 168,489,949 new Ordinary Shares being issued to be admitted to trading on AIM and it is expected that admission will take place on or around 22 March 2021 ("Admission").

AIM Rule 17

Pursuant to AIM Rule 17, the Company announces that the shareholding of Suay Chin International Pte remains as 2,290,471,568 Ordinary Shares but from Admission will represent 17.82% of the then issued share capital.

Total Voting Rights

Upon Admission, the issued share capital of the Company will consist of 12,852,007,847 Ordinary Shares. The Company does not hold any shares in treasury. Therefore, the total number of voting rights in the Company from Admission will be 12,852,007,847. This figure may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in or a change to their interest in the Company under the FCA's Disclosure Guidance and Transparency Rules.

For further information, please visit www.kodalminerals.com or contact the following: