26
June 2024
CLN Conversion and Issue of
new shares
Aterian Plc
("Aterian" or the
"Company")
Aterian Plc
(LSE: ATN), the critical metal-focused
exploration and development company, announces that it has received
notices to convert £500,000 or the full amount of outstanding
convertible loan notes, issued and announced on 3 May 2024.
Additionally, following requests from three suppliers seeking an
increased shareholding in Aterian, the Company has agreed to
convert £42,197 of creditor balances. The Company will therefore
convert an aggregate of £542,197 at 70 pence per share in exchange
for the issue of 774,566 new ordinary shares of 10p each in the
Company ("Ordinary Shares").
Highlights:
· The Company on
the 3rd of May announced the issue of £500,000 of CLNs to two
existing shareholders, Altus Exploration Management Ltd.,
a subsidiary of Elemental Altus Royalties Corp., a substantial
shareholder in the Company, and Mr. Simon Rollason, the Company's
CEO.
· The CLNs contain
an option, which both holders have exercised, for the CLN holder to
convert prior to publication of a Prospectus.
· Conversion at
this time means that no interest was paid to the CLN
holders.
· The funds have
been allocated for expanded Moroccan exploration, including an
initial Agdz drill programme, as well as for general corporate
use.
Admission and
Total Voting Rights
Applications will be made to the FCA and the LSE
for Admission of the 774,566 New Ordinary Shares, which is expected
to be on or around 1 July 2024. These shares rank pari passu with
the existing ordinary shares of the Company.
Following the issue of the New Ordinary Shares,
the Company's issued share capital will comprise 11,666,276
Ordinary Shares, with each Ordinary Share carrying the right to one
vote. Accordingly, the total number of voting rights in the Company
will be 11,666,276 and this figure may be used by shareholders 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 Company under the FCA's Disclosure Guidance
and Transparency Rules.
- ENDS -
This announcement contains information which,
prior to its disclosure, was inside information as stipulated under
Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations
2019/310 (as amended).
For further information, please visit the
Company's website: www.aterianplc.com or
contact:
Aterian Plc:
Charles Bray, Executive Chairman - charles.bray@aterianplc.com
Simon Rollason, Director - simon.rollason@aterianplc.com
Financial Adviser and Joint
Broker:
Novum Securities Limited
David Coffman / George Duxberry
Colin Rowbury
Tel: +44 (0)207 399 9400
Joint Broker:
SP Angel Corporate Finance LLP
Ewan Leggat / Kasia Brzozowska
Tel: +44 20 3470 0470
Financial PR:
Bold Voodoo
- ben@baldvoodoo.com
Ben Kilbey
Tel: +44 (0)7811 209 344
Notes to Editors:
About Aterian plc
www.aterianplc.com
Aterian plc is an LSE-listed exploration
and development company with a diversified African portfolio of
critical metals projects.
Aterian plc is actively seeking to acquire and develop new
critical metal resources to strengthen its existing asset base
whilst supporting ethical and sustainable supply chains as the
world transitions to a sustainable, renewable future. The
supply of these metals is vital for the development of the
renewable energy, automotive and electronic manufacturing sectors
that are playing an increasing role in reducing carbon emissions
and meeting climate ambitions globally.
The Company has entered into a joint venture
agreement with Rio Tinto Mining and Exploration
Limited for Rio Tinto to earn into the HCK project in
southern Rwanda and holds two further partnerships
in Rwanda exploring and developing
lithium-tantalum-niobium-tin mining operations. Aterian currently
holds a portfolio of multiple copper-silver and base metal projects
in the Kingdom of Morocco, with a total area of 897
km2. In January 2024, the Company announced the
acquisition of a 90% interest in Atlantis Metals. This private
Botswana registered company holds seven mineral prospecting
licences for copper-silver in the Kalahari Copperbelt and three for
lithium brine exploration in the Makgadikgadi Pans region. The
total licence area in Botswana is 4,486 km2.
The Company's strategy is to seek new
exploration and production opportunities across the African
continent and to develop new sources of critical mineral assets for
exploration, development, and trading.