Metalnrg Plc Regulatory News (MNRG)

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

26 June 2020

MetalNRG plc

("MetalNRG" or the "Company")

Issue of a Convertible Loan Note

MetalNRG (LON:MNRG), the natural resource investing and exploration company, today announces that, it has entered into an agreement, via SI Capital and Peterhouse Capital, the Company's brokers, with a number of shareholders in relation to the issue of up to £375,000 of Convertible Loan Notes ("CLNs"). All MetalNRG Directors have participated in the issue.

In summary the CLNs carry the following conditions; up to £375,000 of the CLNs will be issued; the CLNs are fixed rate, unsecured loan notes carrying a simple, non-compounding interest rate of 10% per annum (accruing on a daily basis) with an expiry date of 31 January 2021.

The CLNs are repayable, if not previously converted, on 31 January 2021.

Holders of the CLNs may convert them into new MetalNRG plc Ordinary Shares ("New Shares") at a price of 0.6 pence or at 85% of the average published volume weighted average share price over the 10 trading days prior to conversion ("VWAP") at any time prior to or on 31 January 2021.

Conversion is subject to the Company maintaining sufficient headroom within the Company's share authorities or the Company filing a prospectus which will enable the admission to listing and trading of New Shares to be issued on conversion.

A copy of the CLN Instrument will be posted on the Company's web site.

The information set out below is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014:

The release of this information was arranged by Rolf Gerritsen, Chief Executive Officer.

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