31 January 2024
Metals One Plc
("Metals One" or the
"Company")
Extension of Major Shareholder Lock-in
Agreements
Metals
One (AIM: MET1), which is advancing battery metal
projects at brownfield sites in Finland and Norway, is pleased to
announce that shareholders representing in aggregate over 30% of
the Company's issued share capital have agreed to extend their
lock-in agreements through to 31 December 2025.
As set out in the Company's Admission Document
dated 25 July 2023 ("Admission Document"), Bluejay Mining Plc
("Bluejay"), which holds 62,500,000 shares, had consented to a
lock-in agreement for a period of one year following the Company's
admission to AIM on 31 July 2023 ("Admission"). Bluejay has now
agreed to extend the terms of its lock-in agreement until 31
December 2025.
As also set out in the Admission Document, 3
Mile Beach Limited ("3 Mile"), which holds 17,500,000 shares, had
consented to a lock-in agreement for a period of six months
following the Company's Admission. 3 Mile has also agreed to extend
the terms of its lock-in agreement until 31 December
2025.
In both cases, the extended lock-in supersedes
the orderly market undertakings given at the time of
Admission.
Daniel Maling,
Chief Financial Officer of Metals One, commented:
"This is a tremendous endorsement of two key
shareholders ahead of maiden drilling results anticipated from the
Black Schist Project in Finland. We are grateful for the continuing
support of Bluejay and 3 Mile. They share our excitement for the
long term value creation opportunity that exists to develop nickel
resources in Europe to supply European EV manufacturers with high
quality, traceable raw materials. We look forward to updating the
market on drilling results and forward strategy soon."
Eric
Sondergaard, Managing Director of Bluejay, added:
"Dan Maling and the Metals One team have done a
great job in getting the Company listed and work programmes funded
in difficult market conditions which have persisted in the months
following Admission. We are impressed by the exploration activity
to date. We are committed to realising the full value potential of
the Black Schist Project via Metals One and this is reflected in
our agreement to remain locked-in for another couple of
years."
Enquiries:
Metals One
Plc
Jonathan Owen, Chief Executive
Officer
Daniel Maling, Chief Financial
Officer
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via Vigo Consulting
+44 (0)20 7390 0234
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Beaumont
Cornish Limited (Nominated Adviser)
James Biddle / Roland Cornish
www.beaumontcornish.com
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+44 (0)20 7628 3396
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Shard Capital
Partners LLP (Joint Broker)
Damon Heath / Erik Woolgar
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+44 (0)20 7186 9952
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SI Capital
Limited (Joint Broker)
Nick Emerson
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+44 (0)14 8341 3500
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Fortified
Securities (Joint Broker)
Guy Wheatley, CFA
www.fortifiedsecurities.com
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+44 (0)20 3411 7773
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Vigo
Consulting (Investor Relations)
Ben Simons / Kendall Hill
metalsone@vigoconsulting.com
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+44 (0)20 7390 0234
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About Metals
One
Metals One is developing brownfield battery
metals projects in Finland (Black Schist Project) and Norway (SRH
Råna Project), with approximately £9 million of exploration carry
exposure through farm-in agreements. Metals One is aiming to help
meet the significant demand for battery metals by defining
resources on the doorstep of Europe's major electric vehicle OEMs
and battery manufacturers. Metals One's Black Schist Project in
Finland, totalling 706 km2 across three licence areas,
has an Inferred Resource of 28.1 Mt nickel-zinc-cobalt-copper and
is located adjacent to Talvivaara, Europe's largest operating
nickel mine. Metals One's fully carried SRH Råna Project in Norway
covers 18.14 km² across three contiguous exploration licences, with
significant opportunity for brownfield exploration of the Råna
intrusion, and proven potential for massive sulphide
nickel-cobalt-copper mineralisation.
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Nominated Adviser
Beaumont Cornish Limited ("Beaumont Cornish")
is the Company's Nominated Adviser and is authorised and regulated
by the FCA. Beaumont Cornish's responsibilities as the Company's
Nominated Adviser, including a responsibility to advise and guide
the Company on its responsibilities under the AIM Rules for
Companies and AIM Rules for Nominated Advisers, are owed solely to
the London Stock Exchange. Beaumont Cornish is not acting for and
will not be responsible to any other persons for providing
protections afforded to customers of Beaumont Cornish nor for
advising them in relation to the proposed arrangements described in
this announcement or any matter referred to in it.