Kodal Minerals Regulatory News (KOD)

30 December 2020

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

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 its 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 $150,809.59 (equivalent to £111,704.66), made up of a principal amount of $150,000.00 and accrued interest of $809.59, into 176,190,315 new ordinary shares of 0.03125p each in the Company ("Ordinary Shares"), at a price of 0.06340 pence per Ordinary Share.

Application will be made for the 176,190,315 new Ordinary Shares being issued to be admitted to trading on AIM and it is expected that admission will take place on or around 5 January 2021 ("Admission").

Total Voting Rights

Upon Admission, the issued share capital of the Company will consist of 11,844,082,836 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 11,844,082,836. 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: