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.
4 February 2025
Technology Minerals Plc
("Technology Minerals" or the "Company")
Update on Sale of LRH
Resources to European
Lithium
Technology Minerals Plc (LSE: TM1),
the UK's pioneering firm in establishing a circular economy for
battery metals, is pleased to provide an update to the announcement
of 26 November 2024 for the sale of its interest in exploration
licences in Leinster, Republic of Ireland, to European Lithium
Limited (ASX: EUR, FRA: PF8, OTC: EULIF) ("European
Lithium") (the "Transaction").
A Settlement Agreement between
Technology Minerals and its joint venture
partner, Global Battery Metals Ltd ("GBML"), to terminate
the Leinster Project joint venture, has now
been approved by both the TSX-V and GBML shareholders, such
approvals being required under the terms of the Transaction which
is now in the final stages, with only minor procedural steps left
to complete.
The Transaction is effected by the
sale of 100% of the issued share capital of LRH Resources Limited
("LRH") held by the Company to European Lithium. Technology
Minerals will receive 1,371,742 shares held by European Lithium in
Critical Metals Corp (Nasdaq: CRML) ("CRML"), valued at US$10 million as of 22 April 2024, based on 90% of
the closing market price of the shares on the day before the
signing of the Heads of Agreement (the "Consideration Shares").
Technology Minerals will transfer 284,362 of the Consideration
Shares to GBML as part of the Settlement Agreement. The
Consideration Shares will be locked in and held in escrow until 28
February 2025.
Enquiries
|
Technology Minerals Plc
|
|
|
Robin Brundle, Executive
Chairman
Alexander Stanbury, Chief Executive
Officer
|
c/o +44 (0)20 4582 3500
|
|
|
|
|
Oberon Investments Limited (Brokers)
|
|
|
Nick Lovering, Adam
Pollock
|
+44 (0)20 3179 5300
|
|
|
|
|
Gracechurch Group (Financial PR)
|
|
|
Harry Chathli, Alexis Gore, Rebecca
Scott
|
+44 (0)20
4582 3500
|
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.
