Warrant Extension and Revised Exercise Price

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

28 March 2024

Critical Metals Plc

("Critical Metals" or the "Company") 

Warrant Extension and Revised Exercise Price

Critical Metals plc, a mining investment company established to acquire mining opportunities in the critical and strategic metals sector, announces that the Company intends to extend the exercise period of a total of 15,571,428 warrants and reprice the £0.40 warrants.

Rational

The Board has made the strategic decision to reprice and extend the maturity the 40 pence warrants in order to have greater confidence in the timing of the conversion of the warrants. Furthermore, the dilution effect is already known to the market, resulting in no additional change to the fully diluted shares outstanding.

Extension of Warrants

The Company announces its intention to extend the exercise period of all outstanding warrants along with the exercise repricing of certain warrants as follows:

-      a total of 9,000,000 warrants, which are exercisable on or before the 31 March 2024 at 40 pence per share ("RTO Warrants") to be extended to 31 March 2025 and exercise price adjusted to 10 pence per share, noting director Russell Fryer holds 25,000 of these warrants;

-      a total of 400,000 warrants which are exercisable on or before 31 March 2023 at 10 pence per share ("10p Warrants") to be extended to 31 March 2025, noting director Russell Fryer holds 400,000 of these warrants;

-      a total of 1,771,428 warrants which are exercisable on or before 31 March 2023 at 5 pence per share ("5p Warrants") to be extended to 31 March 2025, noting director Russell Fryer holds 571,428 of these warrants and director Marcus Edwards-Jones holds 200,000 of these warrants and former director Anthony Eastman holds 1,000,000 of these warrants

-      A total of 2,400,000 warrants exercisable on or before 31 May 2024 at 40 pence per share ("May 2023 Warrants") to be extended to 31 March 2025 and exercise price adjusted to 10 pence per share noting director Russell Fryer holds 40,000 of these warrants; and

-      A total of 2,000,000 warrants exercisable on or before 15 September 2024 at 40 pence per share ("Loan Funding Warrants") to be extended to 31 March 2025 and exercise price adjusted to 10 pence per share.

These RTO Warrants were granted at the time of re-admission of the Company's Ordinary Shares to the standard segment of the Official List and to trading on the main market for listed securities of the London Stock Exchange plc on 12 September 2022 and extended in September 2023, whilst the 10p Warrants and 5p Warrants were granted at the time of re-admission of the Company's Ordinary Shares to the standard segment of the Official List and to trading on the main market for listed securities of the London Stock Exchange plc on 29 September 2020 and extended in March 2023, September 2023 and January 2024. The May 2023 Warrants were issued as part of the May 2023 fundraise whilst the Loan Funding Warrants were issued as part of the loan funding received in September 2023.

All other terms and conditions of the Warrants remain unchanged.  The extensions of the RTO Warrants, 10p Warrants, 5p Warrants and May 2023 Warrants are related party transactions for the purposes of DTR 7.3.3 as one or more directors is interested in each of these classes of warrants.

**ENDS**

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

About Critical Metals

Critical Metals PLC has acquired a controlling 100% stake in Madini Occidental Limited, which holds an indirect 70% interest in the Molulu copper/cobalt project, an asset in the Katangan Copperbelt in the Democratic Republic of Congo.

The Company will continue to identify future assets that are in line with its stated acquisition objective of low CAPEX and OPEX brown-field projects with near-term production and cash-flow, whilst concentrating on minerals that have strategic importance to future economic growth thereby generating significant value for shareholders.