Metalnrg Plc Regulatory News (MNRG)

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC UK LAW PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) ("UK MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 28 September 2023

MetalNRG plc

(the "Company" or "MetalNRG")

Strategic Business Review Update

MetalNRG plc (LON:MNRG), the natural resources and energy investment company, is pleased to announce the completion of its strategic business review which it announced on 4 September2023. With the Board's support behind the review, MetalNRG now moves into implementation.

The Company's executive team is anticipating a potential bull-market cycle in the metals & mining sector and MetalNRG is eager to position itself to benefit from the predicted uptick. The Board has confirmed its decision to concentrate growth and value creation efforts on the mining sector.

MetalNRG is driven to build a global natural resources business, delivering industry leading returns and sustainable dividends to shareholders.

The Company will create shareholder value through indirect and direct investments targeting outright acquisitions, and majority or minority interests, in three types of projects:

1. Late-stage development projects, that will be in production within 12 to 18 months and offer additional upside post-production

2. Projects that are currently in production and offer substantial exploration and development upside

3. Projects that offer blue sky growth opportunities that could become company-making mines of the future.

MetalNRG will concentrate on gold and copper projects, alongside other precious and strategic metals, which face high demand due to global macroeconomic, energy transition, and technology trends. The Company's Executive team has reviewed more than 100 projects globally and has now reduced this extensive list to a short-list of around 10 projects which MetalNRG plans to progress. These projects include a number of potential reverse takeover targets which are being evaluated.

To support our strategic intent and provide the Company with access to two of the most important markets in natural resources, MetalNRG has appointed Oak Hill Financial Inc in Canada to assess the option of dual listing MetalNRG on the Toronto Stock Exchange.

Since its beginnings in 2014, Oak Hill Financial has consistently anticipated and responded to the changing needs of Canadian markets. Through their history of asset management distribution, corporate advisory, and investor relations, they have provided asset managers and companies with a comprehensive and innovative selection of services.

The strategic review recognised the value of a main board London Stock Exchange listing. More importantly, the Board believes that the Company is currently undervalued and that existing shareholders will be protected when a reverse takeover is implemented. In fact the Board anticipates current shareholders to be offered a premium to current share price upon RTO.

As a result of the Company's strategic review, our partnership with EQTEC and our investment in EQTEC Italia is considered non-core and the Company will be seeking the most suitable exit from this investment and we will inform the market of our progress on this. The Company's Gold Ridge project is currently under review as we await the final results from the Geo Sampling to be completed before the summer. These results, which should be delivered by Mid-October, will form the basis of our decision on Gold Ridge.

Rolf Gerritsen commented: "Working with Chris Chadwick and the Executive team has been extremely exciting and I am now looking forward to driving the implementation plan forward. I am working to secure the Company's future, deliver value to existing and future shareholders and build a strong sustainable business".

Chris Chadwick commented: "This update demonstrates the progress made by the combined team since we joined Rolf and the MetalNRG Board. We believe we have a strong value proposition that could be strongly enhanced with a potential dual listed structure. We are now entering the next phase where we will focus on executing the new strategy."

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