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#FCM First Class Metals PLC – Share Placing & Total Voting Rights
First Class Metals PLC (“First Class Metals”, “FCM” or the “Company”) the UK listed company focused on the discovery of economic metal deposits across its exploration properties in Ontario, Canada, announces that it has raised gross proceeds of £1,000,000 before related costs through a placing (the “Placing“) of 26,315,790 new ordinary shares (“Shares“) at a price of 3.8 pence per Share (the “Placing Price“), . The Company’s Broker, Axis Capital Markets, acted as the Company’s sole placing agent in respect of the Placing, introducing new institutional investment to the Company’s share register
The Placing Price represents a 9.5% discount to the bid closing price of the Company’s shares on 8 June 2026, being the last trading day prior to completion of the Placing. The proceeds from the Placing, are intended to be used to continue the Company’s activities across its portfolio aimed at enhancing value, including:
- expansion of the company’s exploration activities on the Sunbeam Project. Work on which, subject to obtaining the necessary government approvals, will include:
o An exploratory drill programme at the Pettigrew Prospect in H2 2026, with possible expansion or follow up programme;
o follow up drilling at the Roy prospect;
o intensive exploration and structural study around the Sunbeam mine;
o Exploration on the extension of the three main lineaments to the north-east at the Sunbeam Property.
- exploration activities on FCM’s other core and non-core projects in Northern Ontario; and
- for general working capital purposes.
Reflecting the Company’s increasing confidence in the prospectivity of the Sunbeam Project, a revised three-year Exploration Permit Application covering the whole property has now been submitted to the Ontario Ministry of Mines. The application is designed to support a substantially expanded exploration programme and provide operational flexibility as the Company advances the project.
James Knowles, CEO of First Class Metals, commented:
“We are pleased to have secured £1 million of new funding through Axis Capital Markets. While the Company is already funded for the foreseeable future, this additional capital further strengthens the balance sheet and provides the flexibility to expand exploration activity across our Ontario portfolio.
Whilst completed at a modest discount to the prevailing market price, the Placing represents a premium of approximately 150% to our March 2026 fundraising price of 1.52 pence per share. We believe this reflects the progress made by the Company and the growing recognition of the value within our assets.
The current funding enables the Company to advance it’s key exploration initiatives without delay, ensuring we are well positioned to deliver meaningful news flow throughout the remainder of 2026 while continuing to pursue opportunities that enhance shareholder value.”
Broker Warrants
In connection with the Placing, the Company has agreed to grant warrants over 909,090 new ordinary shares to Axis Capital Markets. The warrants are exercisable at a price of 5.5 pence per warrant for a period of 36 months from the placing date.
Total Voting Rights
Application will be made to the London Stock Exchange for the 26,315,790 Shares to be admitted to trading on the Main Market for listed securities (“Admission“) and it is expected that Admission will take place at 8.00 a.m. on or around on 23 June 2026.
In accordance with the provision of the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority, the Company confirms that, following the issue of the Shares, the Company’s issued ordinary share capital will comprise 416,276,349 Ordinary Shares. All the Ordinary Shares have equal voting rights and none of the Ordinary Shares are held in Treasury. The total number of voting rights in the Company will therefore be 416,276,349. The above figure may be used by shareholders as the denominator for the calculations to determine if they are required to notify their interests in, or a change to their interest in, the Company.
Please visit our InvestorHub for more information
https://firstclassmetalsplc.com/link/P2KZwy
For further information, please contact:
James Knowles, Executive Chair
Email: JamesK@Firstclassmetalsplc.com
Tel: 07488 362641
Marc J Sale, CEO
Email: MarcS@Firstclassmetalsplc.com
Tel: 07711 093532
AlbR Capital Limited
David Coffman / Dan Harris
Website: www.albrcapital.com
Tel: (0)20 7469 0930
Axis Capital Markets (Broker)
Richard Hutchinson
Website: Axcap247.com
Tel: (0)203 026 0449
#GRX GreenX Metals LTD – A$13.6 Million Placement of Shares
GreenX Metals Limited (ASX:GRX, LSE:GRX, GPW:GRX, Germany-FSE:A3C9JR) (GreenX or Company) is pleased to announce that it has successfully completed a bookbuild and secured firm commitments for a placement of 16,000,000 new ordinary shares at a price of A$0.85 (£0.43) per share (New Shares) to raise gross proceeds of approximately A$13.6 million (Placement).
SCP Resource Finance LP assisted in the Placement, which was supported by existing investors, alongside new institutional investors.
The net proceeds from the Placement will be used for exploration and development activities at the Company’s Tannenberg Copper Project in Germany (Tannenberg) and the Eleonore North Gold and Antimony Project in Greenland (ELN), and general working capital, including costs in relation to the Company’s ongoing arbitration proceedings against Poland.
Together with the Company’s existing cash resources, the proceeds of the Placement will strengthen that GreenX balance sheet allowing it to initiate and progress with explorational and development activities at Tannenberg and ELN.
The Placement is expected to settle on 4 February 2026, and Company will issue the New Shares on or about 5 February 2026 under its capacity pursuant to ASX Listing Rule 7.1A.
GreenX’s Chief Executive Officer, Mr Ben Stoikovich, commented: We are delighted with the continued support shown by existing shareholders and new institutional shareholders for the Placement, including strong participation from North America and Europe, particularly Germany and Switzerland. The strengthened balance sheet places the Company in a strong position for 2026, as it looks to undertake a more targeted exploration program at Tannenberg designed to delineate the project’s true scale and potential through systematic data integration, target refinement and drill-ready prioritisation.
ENQUIRIES
Ben Stoikovich
Chief Executive Officer
Kazimierz Chojna
Investor Relations – Poland
+44 207 478 3900
ir@greenxmetals.com
Kim Eckhof
Investor Relations – UK / Germany
#SVML Sovereign Metals LTD – Sovereign Completes A$40 Million Placement
SOVEREIGN COMPLETES A$40 MILLION PLACEMENT
Sovereign Metals Limited (ASX:SVM; AIM:SVML; OTCQX: SVMLF) (Sovereign or the Company) is pleased to announce that it has received firm commitments for a placement of 47,058,824 new fully paid ordinary shares at an issue price of A$0.85 per share (New Shares) to raise gross proceeds of A$40,000,000 before costs (Placement).
The Placement was strongly supported by new and existing shareholders, including large global institutional investors.
Proceeds from the Placement will be used for development activities at the Company’s Kasiya Rutile-Graphite Project (Kasiya or the Project), located in Malawi, including permitting, studies, general working capital, and other corporate purposes.
The issue price of A$0.85 per New Share represents a 12.8% discount to the last close of A$0.975 and an 8.1% discount to the 15-day volume weighted average price of A$0.925.
Petra Capital Pty Ltd acted as Sole Lead Manager and Sole Bookrunner. Clients of Stifel Nicolaus Europe Limited, SCP Resource Finance LP and Acova Capital Pty Ltd also participated in the Placement.
The Placement is expected to settle on 1 April 2025, and Company will issue the New Shares on or about 2 April 2025.
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Enquiries |
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Frank Eagar, Managing Director & CEO South Africa / Malawi +27 21 140 3190
Sapan Ghai, CCO London +44 207 478 3900 |
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Nominated Adviser on AIM and Joint Broker |
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SP Angel Corporate Finance LLP |
+44 20 3470 0470 |
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Ewan Leggat Charlie Bouverat |
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Joint Brokers |
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Stifel |
+44 20 7710 7600 |
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Varun Talwar |
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Ashton Clanfield |
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Berenberg |
+44 20 3207 7800 |
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Matthew Armitt |
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Jennifer Lee |
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Buchanan |
+ 44 20 7466 5000 |
AIM Admission
Application to AIM will be made for the 47,058,824 New Shares to be admitted to trading on AIM (AIM Admission). It is expected that AIM Admission will take place and dealings will commence on AIM on or around 8.00 a.m. on 2 April 2025.
Total Voting Rights
Immediately following the AIM Admission, the Company’s issued share capital will be 646,938,703 shares, with each share carrying the right to one vote. The Company does not hold any Ordinary Shares in treasury. The total voting rights figure immediately following the AIM Admission of 646,938,703 may be used by shareholders (and others with notification obligations) as the denominator for the calculations by which they will determine whether they are required to notify their interest in, or a change to their interest in, the Company under the Disclosure Guidance and Transparency Rules.
Following the issue of Shares, the Company will have the following securities on issue:
· 646,938,703 fully paid ordinary shares (of no par value);
· 10,977,500 unlisted performance rights subject to the “Definitive Feasibility Study Milestone” expiring on or before 31 October 2025;
· 4,992,500 unlisted performance rights subject to the “Grant of Mining Licence Milestone” expiring on or before 31 March 2026; and
· 6,190,000 unlisted performance rights subject to the “Final Investment Decision Milestone” expiring on or before 30 June 2026.
Not an offer in the United States
This announcement has been prepared for publication in Australia and may not be released to US wire services or distributed in the United States. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction. Any securities described in this announcement have not been, and will not be, registered under the US Securities Act of 1933 and may not be offered or sold in the United States except in transactions exempt from, or not subject to, the registration requirements of the US Securities Act and applicable US state securities laws.
Forward Looking Statements
This release may include forward-looking statements, which may be identified by words such as “expects”, “anticipates”, “believes”, “projects”, “plans”, and similar expressions. These forward-looking statements are based on Sovereign’s expectations and beliefs concerning future events. Forward looking statements are necessarily subject to risks, uncertainties and other factors, many of which are outside the control of Sovereign, which could cause actual results to differ materially from such statements. There can be no assurance that forward-looking statements will prove to be correct. Sovereign makes no undertaking to subsequently update or revise the forward-looking statements made in this release, to reflect the circumstances or events after the date of that release.
The information contained within this announcement is deemed by Sovereign to constitute inside information as stipulated under the Regulation 2014/596/EU which is part of domestic law pursuant to the Market Abuse (Amendment) (EU Exit) Regulations (SI 2019/310) (“UK MAR”). By the publication of this announcement via a Regulatory Information Service, this inside information (as defined in UK MAR) is now considered to be in the public domain.