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Critical Metals plc / EPIC: CRTM / Market: Main Market

12 September 2022

Critical Metals plc

("Critical Metals" or the "Company")

Admission to the Official List & First Day of Dealings

Critical Metals plc, a company established to acquire mining opportunities in the critical and strategic metals sector, is pleased to announce the readmission of its ordinary shares of £0.005 ("Ordinary Shares") to trading on the Standard Segment of the Official List and to trading on the Main Market of the London Stock Exchange (together "Admission") following the completion of the acquisition of a 57 per cent. interest in Madini Occidental Limited ("Madini Occidental"), which holds an indirect 70 per cent. interest in the Molulu copper/cobalt project (the "Molulu Project") located within Small Scale Mining License ("SMEP") 14784 (the "Mining Licence") in the Democratic Republic of Congo ("DRC") (the "Acquisition"). The Acquisition constituted a reverse takeover under the FCA's Listing Rules.

In conjunction with the Acquisition, the Company has successfully raised £1,800,000 through a Placing of 9,000,000 new Ordinary Shares at 20 pence per share (the "Placing").

On Admission, the Company will have 52,659,735  Ordinary Shares in issue and the market capitalisation of the Company will be approximately £10,531,947, based on the price of the Placing.

Admission of the Company's Ordinary Shares to trading will take place and dealings will recommence at 8:00 a.m. today under the ticker 'CRTM' and ISIN GB00BJVR6M63.

Overview of the Molulu Project

·    Acquired a controlling stake of 57 per cent. in Madini Occidental, which holds an indirect 70 per cent. interest in the Molulu Project for a total consideration of US$750,000 less approximately US$129,000 and EUR 33,400, being costs of the target group paid by the Company prior to Admission

·    The Molulu Project is an ex-producing medium-scale copper/cobalt asset in the Katangan Copperbelt, DRC, with four pits previously mined by artisanal miners

·    The DRC is the world's fourth largest producer copper producing 1.6 million metric tonnes in 2020 and supplies approximately 60 per cent. of the world's cobalt 

·    Critical Metals intends on bringing the Molulu Project into production in Q4 2022, following  generating near-term free cashflow

·    Proximity to copper smelters in Lubumbashi and Likasi provide processing and/or selling channels for copper and cobalt production

·    The Directors believe the Molulu Project has the potential to become an efficient copper and cobalt producing operation and intend to complete various exploration work and technical studies required to assess its technical and economic viability in conjunction with bringing the Molulu Project into production at the earliest opportunity

·    Copper is a key commodity required for the global transition to Net Zero, used in wind turbines, electric vehicles, telecommunications and construction sectors

·    Copper price has increased from US$2.21/lb to $3.58/lb between August 2016 and August 2022, driven by global economic growth, increasing infrastructure investment and global supply-side deficit

Russell S. Fryer, Chief Executive Officer of Critical Metals, commented:

"We have reached a milestone with the readmission of the Company to trading following the completion of our acquisition of our interest in the Molulu Project. I believe the Molulu Project presents a fantastic opportunity to gain near-term exposure to these critical minerals, the global need for which remains clear.

"With mineralisation evident at the surface and at shallow depths and with proximity to copper smelters, we expect to bring this ex-producing copper/cobalt asset, in a highly prospective region, into production in Q4 2022, which is intended to generate the cash flow required to fund future operations.

"I would like to take this opportunity to thank shareholders and prospective shareholders for their patience due to certain time-consuming complexities. This is a very exciting time for Critical Metals and I look forward to sharing regular updates on our progress at the Molulu Project."

Placing Highlights

The Company has successfully raised £1,800,000 (before expenses) via a placing of 9,000,000 new Ordinary Shares ("Placing Shares") at an issue price of 20 pence per share. The net proceeds of the Placing, in conjunction with the Company's existing cash resources, will be used primarily in connection with the consideration for the Acquisition, with the balance used for drilling, mine site upgrades and general working capital purposes.

In addition, the Company has agreed to issue, on Admission, one warrant for every one Placing Share issued (the "Warrants"). The Warrants will vest on Admission and will be exercisable for 12 months for a cash price of 40 pence per Ordinary Share.

Strand Hanson Limited is acting as Financial Adviser and Peterhouse Capital Limited is acting as broker in relation to Admission.

Total Voting Rights

The number of shares in issue immediately after Admission is  52,659,735, giving the Company a market capitalisation of approximately £10.5 million at the issue price of 20 pence per Ordinary Share.

For the purpose of the Disclosure and Transparency Rules, following Admission the enlarged issued share capital of the Company will comprise 52,659,735 Ordinary Shares. The Company does not hold any shares in treasury. The above 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, under the Disclosure and Transparency Rules.

**ENDS**

For further information on the Company please visit www.criticalmetals.co.uk or contact: