TM1 Technology Minerals Plc

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. 

26 June 2024

Technology Minerals Plc

 ("Technology Minerals" or the "Company")

Facility Drawdown, Conversion Notice and TVR

Facility Drawdown and Conversion

Technology Minerals Plc (LSE: TM1) ("the Company"), the first listed UK company focused on creating a sustainable circular economy for battery metals, announces that further to its announcement of 17 May 2024, it has given notice to Atlas Capital Markets LLC ("ACM") of a drawdown of £400,000 to be issued on 28 June 2024 ("Issue Date").

In addition, the Company received a Conversion Notice from Atlas Capital Markets LLC ("ACM") on 24 June 2024 for £90,000 of Convertible Bonds from the convertible bond facility announced on 21 March 2024. The Company will issue 27,328,958 Ordinary shares of £0.001 per share ("Ordinary Shares") at a conversion price of 0.329321 pence per Ordinary Share. ACM have agreed to abide by orderly market provisions in respect of the sale of shares.

Following completion of both this drawdown and the conversion, the total funds drawn under the £5.5 million facility with ACM will amount to £2.5 million, of which £0.51m will have been converted into Ordinary shares as previously announced. Use of the new funds drawn will include continued support of the scale up in operations at Recyclus' lithium-ion plant in Wolverhampton, ahead of the proposed acquisition of the Recyclus shares not held by the Company, as previously announced. In addition, the funds will facilitate the building of a discharge and dismantle unit that will allow the facility to dissemble EV batteries on site before processing. This capability enhances Recyclus' offering and enables the company to provide OEMs and major industry players with a complete solution without the need for third party processing.  Technology Minerals currently owns 48.35% of Recyclus Group Ltd.

Admission and Total Voting Rights

Application will be made for the 27,328,958 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 1 July 2024 ("Admission"). Upon Admission, the total number of issued shares and the total number of voting rights in the Company will be 1,637,052,503.

The above figure of 1,637,052,503 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.

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 raw material exploration required for Li-ion batteries, whilst solving the ecological issue of spent Li-ion batteries, by recycling them for re-use by battery manufacturers. Further information on Technology Minerals is available at  www.technologyminerals.co.uk.