This announcement contains certain inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

MINERAL AND FINANCIAL INVESTMENTS LIMITED

 Placing to raise £250,000

Camana Bay, Cayman Islands - 24 May 2023 - Mineral and Financial Investments Limited (LSE-AIM: MAFL) ("M&F" "MAFL" or the "Company") is pleased to announce that the Company has raised £250,000, before expenses, by way of a placing with private and institutional investors of 1,190,476 new ordinary shares of 1.0p each ("Placing Shares") at a placing price of 21.0p per share ("Placing Price") (together the "Placing")

In addition, the Company has issued 250,000 new ordinary shares to Novum Securities Limited in settlement of historic broking retainer fees.

The total number of new ordinary shares to be issued is therefore 1,440,476 Ordinary Shares (the "New Issue Shares").

The Company will issue 47,619 warrants ("Broker Placing Warrants") to Novum Securities Limited, with each warrant giving the right to subscribe for one ordinary shares in the Company,  at a price 25.0p per ordinary share at any time in whole or in part until 24 May 2025. 

The net funds raised by way of issue of the Placing Shares will be used for investment opportunities that the Company is actively reviewing. 

The Placing Price of 21.0p represents a 1.03p discount to the Company's last announced net asset value per share (NAVPS) of 22.03p for the period ending 31 December 2022 and a 4.5p discount to the closing share mid-price of 25.5p of 23 May 2023, being the previous business day.

Application will be made for the New Issue Shares to be admitted to trading on AIM and dealings are expected to commence on 1 June 2023 ("Admission").

Following the issue of the 1,440,476 New Ordinary Shares, the total number of shares in issue is 36,905,871 Ordinary Shares. There are no shares held in treasury. Therefore, the total number of voting rights in the Company is 36,905,871. This figure may be used by shareholders in the Company 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 under the Disclosure and Transparency Rules.

The Placing is subject only to Admission and the terms of a customary placing agreement between the Company and Novum Securities Limited.

Jacques Vaillancourt, President, CEO and Director of the Company stated - "We are pleased to have raised additional funds at such a narrow discount to reported NAVPS providing us with new shareholders that have recognised our ability to continue to build NAVPS regardless of market / resource industry conditions and sentiment. We seek value in all the investments we make and the funds provided will strengthen our balance sheet further as we advance discussions on new investments".

FOR MORE INFORMATION:

Jacques Vaillancourt, Mineral & Financial Investments Ltd.           +44 780 226 8247

Katy Mitchell and Sarah Mather, WH Ireland Limited                    +44 207 220 1666

Jon Belliss, Novum Securities Limited                                          +44 207 382 8300

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (MAR) as in force in the United Kingdom pursuant to the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via Regulatory Information Service (RIS), this inside information is now considered to be in the public domain.