RNS Number : 5045B
Metals One PLC
31 January 2024
 

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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

via Vigo Consulting

+44 (0)20 7390 0234



Beaumont Cornish Limited (Nominated Adviser)

James Biddle / Roland Cornish

www.beaumontcornish.com

+44 (0)20 7628 3396

 


Shard Capital Partners LLP (Joint Broker)

Damon Heath / Erik Woolgar

+44 (0)20 7186 9952

 



SI Capital Limited (Joint Broker)

Nick Emerson

+44 (0)14 8341 3500

 


Fortified Securities (Joint Broker)

Guy Wheatley, CFA

www.fortifiedsecurities.com

+44 (0)20 3411 7773



Vigo Consulting (Investor Relations)

Ben Simons / Kendall Hill

metalsone@vigoconsulting.com

+44 (0)20 7390 0234

 

 

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.

 

Follow us on social media:

 

LinkedIn: https://www.linkedin.com/company/metals-one-plc/

Twitter: https://twitter.com/metals_one_PLC/

 

Subscribe to our news alert service on the Investors page of our website at: www.metals-one.com

 

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.

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