Tech Minerals Regulatory News (TM1)

The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain. 

27 March 2023

Technology Minerals Plc 

("Technology Minerals" or the "Company") 

£2.5 million fundraise

Technology Minerals Plc (LSE: TM1), the first listed UK company focused on creating a sustainable circular economy for battery metals, is pleased to announce that it has raised £2.5 million (before expenses) from a new high net worth investor (the "Fundraising").

The Fundraising consists of :

· a subscription for 80,000,000 new ordinary shares of £0.001 each ("Ordinary Shares") at a price of 1p per Ordinary Share, for a total amount of £800,000; and

· the issue by the Company of convertible unsecured loan notes ("Convertible Loan Notes ") to a value of £1.7 million. The Convertible Loan Notes carry a coupon of 12% per annum for a term of two years from issue and are convertible into Ordinary Shares at 3.5 pence per Ordinary Share. 

· the Convertible Loan Notes issued under this Fundraising are unconnected to those available through the convertible bond facility with Macquarie Bank Limited and Atlas Capital Markets LLC, announced on 9 December 2022.

Use of Funds

The funds strengthen the Company's position, supporting further work to enhance the value of its battery metals mining assets, capital requirements and operating costs as the Company continues to develop its twin-track strategy to create a circular economy for battery metals. The funds will also be used to facilitate the scale up of operations at Recyclus' lithium-ion battery recycling plant, now in the final stages of obtaining the Environmental Agency ("EA") licence to commence industrial-scale processing. At the lead-acid recycling plant at Tipton, Recyclus will be increasing manual processing until the EA permit arrives to commence the automated process.

Admission and Total Voting Rights

Application will be made for the 80,000,000 new ordinary shares, which will rank pari passu in all respects with the existing ordinary shares of the Company, to be admitted to the Standard List segment of Official List and to trading on the main market of the London Stock Exchange plc, which is expected to occur on or around 8.00 a.m. on 31 March 2023 ("Admission"). Upon Admission, the total number of issued shares and the total number of voting rights in the Company will be 1,431,330,997.

The above figure of 1,431,330,997 should be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Alex Stanbury, CEO of Technology Minerals, said: "We are pleased to secure funding from a new long-term shareholder, which provides us with sufficient runway to progress our projects currently underway. It comes at an exciting time with our mining assets progressing well and Recyclus in the final stages of securing EA approval to begin automated industrial-scale operations at the lithium-ion battery recycling plant. The funds strengthen our foundations as we pursue our twin-track strategy to create a circular economy for battery metals essential to the global transition to electrification."

Enquiries

Technology Minerals Plc 

Technology Minerals is developing the UK's first listed, sustainable circular economy for battery metals, using cutting-edge technology to recycle, recover, and re-use battery technologies for a renewable energy future. Technology Minerals is focused on extracting raw materials required for Li-ion batteries, whilst solving the ecological issue of spent Li-ion batteries, by recycling them for re-use by battery manufacturers. With the increasing global demand for battery metals to supply electrification, the group will explore, mine, and recycle metals from spent batteries. Further information on Technology Minerals is available at www.technologyminerals.co.uk