REG - Alien Metals Limited - Placing, Joint Broker Appointment & Project Update

Alien MetalsAnnouncement

04/06/2024 14:00

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RNS Number : 0864R  Alien Metals Limited  04 June 2024

 

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR PUBLICATION,
RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR
INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA
OR NEW ZEALAND OR IN OR INTO ANY OTHER JURISDICTION WHERE TO DO SO WOULD
CONSTITUTE A BREACH OF ANY APPLICABLE LAW OR REGULATION.

 

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT ITSELF
CONSTITUTE A PROSPECTUS OR OFFERING MEMORANDUM OR AN OFFER FOR SALE OR
SUBSCRIPTION IN RESPECT OF ANY SECURITIES IN THE COMPANY. THIS ANNOUNCEMENT
DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION,
OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE
OF ANY SECURITIES OF ALIEN METALS LTD IN ANY JURISDICTION WHERE TO DO SO WOULD
BREACH ANY APPLICABLE LAW OR REGULATION.

 

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO
CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION
(EU) NO. 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW PURSUANT TO THE EUROPEAN
UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE PUBLICATION OF THIS
ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS
CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

4 June 2024
ALIEN METALS LIMITED

 

("Alien Metals" or the "Company")

 

Placing to raise £630,000, Appointment of Joint Broker and West Australian
Project Update

Alien Metals Ltd (AIM: UFO), a global minerals exploration and development
company, is pleased to announce that the Company has raised gross proceeds of
£630,000 (before expenses) though a placing ("the Placing") of 466,666,667
new common shares of no par value in the Company ("Common Shares") at a price
of 0.135 pence per share (the "Placing Shares"). The Placing Shares equate to
approximately 6.7% of the Company's issued share capital as enlarged by the
Placing.

 

The net proceeds of the Placing will be principally used to advance the
Company's iron ore project, silver and precious metals project in Western
Australia and for general working capital purposes.

Appointment of Joint Broker

 

CMC Markets UK Plc ("CMC Markets"), trading as CapX, acted as the Company's
sole placing agent in respect of the Placing and has been appointed as joint
broker to the Company.

 

Hancock Iron Ore Update

 

·    Work continues by the management team to advance the Hancock Iron Ore
Project towards obtaining all mining approvals necessary to secure funding and
ultimately moving towards development and construction

·    Further in-country heritage surveys are planned for H2 2024

·    Company is advancing engineering and transport logistics for mining,
crushing, road haulage and port loading

·    Actively progressing strategic project funding options including
possible funding by way of joint venture and or debt funding

 

 

Pinderi Hills - Silver, Base & Precious Metals Update

 

·    Field work has commenced on site including soil sampling with
approximately 1,000 samples expected to be taken.

·    Further geochemical surveys are planned to commence over the main
Ni-Cu target areas

·    Rock chip sampling being undertaken over the Pinderi Hills project
area, together with on ground surface mapping and determination of locations
for future geophysical and drilling programmes

·    Exploration work underway to target larger silver ore bodies at depth
and along strike from the known silver deposit/mine zone at Elizabeth Hill

 

 

Updates on the exploration and field work at Pinderi Hills and Elizabeth Hill
 will be announced as appropriate.

 

Figure 1: Geology and location of PGM Reef locations and Ni/Cu target areas
Munni Munni, Pinderi Hills, WA

Figure 2: Sampling Program plan at Pinderi Hills

 

Admission and Total Voting Rights

 

The Placing has been conducted utilising the Company's existing share
authorities. The Placing Shares will rank pari passuin all respects with the
Company's existing Common Shares. The Placing Agreement includes customary
terms and conditions. The Placing is conditional, inter alia, on there being
no breach of the obligations under the Placing Agreement entered into between
CMC Markets and the Company prior to admission of the Placing Shares to
trading on AIM becoming effective ("Admission").

 

Application will be made to the London Stock Exchange for Admission of the
466,666,667 Placing Shares to trading on AIM. It is expected that Admission
will become effective and that dealings in the Placing Shares on AIM will
commence at 8.00 a.m. on or around 10 June 2024, (or such later date as may be
agreed between the Company and CMC Markets, but no later than 12 July 2024).

 

On Admission, the Company's issued share capital will consist of 6,958,460,841
Common Shares, each with voting rights. Therefore, the Company's total number
of Common Shares and voting rights will be 6,958,460,841. This figure may be
used by shareholders 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 Company's issued share capital following Admission
under the FCA's Disclosure Guidance and Transparency Rules.

 

 

 

Guy Robertson Chairman, commented:

 

"This is an exciting time for Alien metals. With the new project team in place
we are expediting development and the approvals work at the Hancock Iron Ore
Project.

 

Hancock has direct shipping ore at 60% plus iron ore grade close to existing
infrastructure surrounded by all the major iron ore producers in the Pilbara.

 

It is encouraging to see that the iron ore price continues to remain strong.
We have seen many iron ore junior companies successfully move into
production  in Western Australia and this gives us a lot of encouragement for
our project.

 

We look forward to actively progressing our financing discussions on the
Hancock Project and to driving forward  exploration work across our
portfolio".

 

For further information on the Company, please visit the Company's website at
www.alienmetals.uk (http://www.alienmetals.uk/) or contact:

 
 

Alien Metals Limited

Guy Robertson

T: +44 (0)20 7983 521488 (c/o Yellow Jersey)

 

Strand Hanson Limited (Financial and Nominated Adviser)

James Harris / James Dance / Robert Collins

T: +44 (0)20 7409 3494

 

WH Ireland Limited (Joint Broker)

Harry Ansell / Katy Mitchell

T: +44 (0)20 7220 1666

 

CMC Markets (Joint Broker)

Douglas Crippen

T: +44 (0)20 3003 8632

 

Yellow Jersey (Financial PR)

Charles Goodwin / Shivantha Thambirajah / Zara McKinlay

Tel: +44 (0)20 3004 9512

 

 

 

 

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