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. 

17 May 2024

Technology Minerals Plc

 ("Technology Minerals" or the "Company")

Drawdown of Convertible Bond Facility and Grant of Warrants

Technology Minerals Plc (LSE: TM1), the first listed UK company focused on creating a sustainable circular economy for battery metals, announces that further to its announcement of 21 March 2024, it has given notice to Atlas Capital Markets LLC ("ACM") of a draw down of £600k to be issued on 30 May 2024 ("Issue Date").

The total funds drawn under the £5.5 million facility with ACM are £2.1 million, of which £0.25m was converted into Ordinary shares as announced on 26 April 2024. 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 shares not held by the Company, as previously announced. Technology Minerals currently owns 48.35% of Recyclus Group Ltd.

Warrants amounting to 20% of the convertible bonds will be attached to each tranche plus a premium of twenty (20) percent of the principal amount of convertible bonds that are issued. The warrants will have a strike price fixed at a twenty (20) percent premium to the average Volume Weighted Average Price of the Shares for the 5 consecutive trading days immediately prior to the issue date of each warrant. The warrants will expire two years after issuance.

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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.