RMM.L Regulatory News (RMM)

14 March 2023

Materials publicly filed in the CCAA Proceedings

London, England - Baie Verte, Newfoundland and Labrador, Canada - Rambler Metals and Mining plc (AIM: RMM) ("Rambler" or the "Company") wishes to notify the shareholders of the documents filed at Court for the sales or investment solicitation plan (the "SISP", or the "Strategic Process") hearing scheduled for 15 March as announced initially on 28 February 2023 and again on 8 March 2023.

If approved by the Court, the Strategic Process will be conducted by the Monitor under the Court's supervision and will be designed to achieve the highest value available or otherwise best offer for the Company, its subsidiaries, and its stakeholders.

Further materials publicly filed in the CCAA Proceedings, including the Monitor's Second Report, Application for SISP and Further Amended and Restated Initial Order, and additional information with respect to the Strategic Process, will be available shortly on the Monitor's website at www.GrantThornton.ca/Rambler.

The materials published on the website are as follows ("Materials"):

1) Monitor's Second Report, dated 13 March 2023;

http://www.rns-pdf.londonstockexchange.com/rns/8940S_1-2023-3-14.pdf

2) Application for SISP and Further Amended and Restated Initial Order, dated 13 March 2023;

http://www.rns-pdf.londonstockexchange.com/rns/8940S_2-2023-3-14.pdf

3) Memorandum of Fact and Law re SISP Application, dated 13 March 2023;

http://www.rns-pdf.londonstockexchange.com/rns/8940S_3-2023-3-14.pdf

4) Draft Further Amended and Restated Initial Order, dated 13 March 2023;

http://www.rns-pdf.londonstockexchange.com/rns/8940S_4-2023-3-14.pdf

5) Draft SISP Order, dated 13 March 2023.

http://www.rns-pdf.londonstockexchange.com/rns/8940S_5-2023-3-14.pdf

Shareholders should know that within the Materials, item one above contains actual cash flow for the period from the commencement of the CCAA Proceedings to 10 March 2023, breakdown of secured creditors, breakdown of royalty claims, breakdown of administration charge and directors' charge, the revised 13-week cash flow projection under CCAA, and therefore Shareholders should not place undue reliance on such information.

Further announcements will be made, as appropriate.

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 ('MAR') which has been incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.

Terms and definitions in this notification are as defined in the notification of 27 February 2023.

ABOUT RAMBLER METALS AND MINING

Rambler is a mining and development company that in November 2012 brought its first mine into commercial production. Rambler has a 100 per cent ownership in the Ming Copper-Gold Mine, a fully operational base and precious metals processing facility and year-round bulk storage and shipping facility; all located on the Baie Verte peninsula, Newfoundland and Labrador, Canada.

The Company has targeted a production profile to meet current mill capacity of 1,350 metric tonnes per day with a target grade of 2% Cu and is evaluating growth opportunities from that base.  

Along with the Ming Mine, Rambler also owns 100 per cent of the former producing Little Deer Complex.

Caution Regarding Forward Looking Statements:

This press release may include forward-looking statements, which reflects the Company's current expectations regarding future events. Forward-looking statements include, but are not limited to, statements regarding the development and implementation of the Strategic Process and its potential impact and outcomes; the process for developing the Strategic Process and seeking Court approval thereof; the ability to identify and implement any sale or restructuring transaction in connection with the Strategic Process and the CCAA Proceedings; the Company's intended actions during the CCAA Proceedings; and the effect of the CCAA Proceedings. Such statements are based on current expectations of the Company's management and inherently involve numerous risks and uncertainties, known and unknown, and there can be no assurance as to the outcome of the Strategic Process and the CCAA Proceedings. In particular and without limitation, there can be no assurances as to: the ability of the Company to obtain all necessary approvals in order to complete any sale or restructuring transaction identified in connection with the Strategic Process and the CCAA Proceedings; the stay of proceedings having the effect contemplated by the Company in providing it with additional time to pursue the Strategic Process; the ability of the Company to operate in the ordinary course during the CCAA Proceedings, including with respect to satisfying obligations to service providers, suppliers, contractors and employees; the ability of the Company to continue as a going concern; the Company's future liquidity position, and access to capital, to fund ongoing operations and obligations; the ability of the Company to stabilize its business and financial condition; the ability of the Company to implement and successfully achieve its business priorities; the ability of the Company to comply with its contractual obligations, including, without limitation, its obligations under debt arrangements; the ability of the Company to generate sufficient cash flow from operations; the impact of competition; the ability of the Company to obtain and retain qualified staff, equipment and services in a timely and efficient manner (including in light of the Company's restructuring efforts); and the ability of the Company to retain members of the senior management team, including but not limited to, the officers of the Company.

Rambler is listed in London under AIM:RMM.

Media Contact:

Tim Sanford, P. Eng.

VP & Corporate Secretary

Email: tsanford@ramblermines.com

Tel No: +1 (709) 532 5736

For further information, please contact:

Website: www.ramblermines.com