£3.5 Million Strategic Investment

Stranger Holdings Plc

('Stranger' or the 'Company')

£3.5 Million Strategic Investment Underwrites Re-Listing

Stranger Holdings Plc (LSE: STHP) is pleased to confirm that it has secured committed equity funding of £3.5 million from Q Global Commodities Group ('QGC'), one of South Africa's leading independent commodity, mining, logistics and investment funds.

The £3.5 million of equity funding was the minimum required to complete the reverse-take-over ('RTO') of the Company by Mayflower Energy Metals Ltd ('MEML') and its acquisition of the advanced Henkries Uranium Project ('Henkries' or 'the Project') located in the Northern Cape in South Africa.

With this funding now secured, the final steps in obtaining approval of the Prospectus relating to the transaction is underway with the FCA and re-admission to the London Stock Exchange is likely to now take place in early Q3 2023 under the Company's new name, Neo Energy Metals (ticker: NEO). 

Highlights

·    QGC, through Dubai based AUO Commercial Brokerage LLC ('AUO'), has executed a share subscription agreement and committed £3.5 million of pre-RTO equity funding to the Company

·    The funding meets the minimum required by the Company to complete the RTO transaction of MEML and the acquisition of the high-grade and advanced Henkries Uranium Project

·    Funding allows the Company to now finalise the Prospectus for the RTO transaction and seek re-admission of its shares to trading on the Standard List of the London Stock Exchange

·    QGC, with this major investment in the Company, will become the single largest shareholder in the Company with an approximate 29% interest on completion of the RTO transaction

·    Mr Quinton van der Burgh, CEO of QGC and one of South Africa's leading mining entrepreneurs, will join the Board of Directors of the Company on completion of the RTO transaction

·    Given the strong level of interest in the acquisition of Henkries and RTO transaction with MEML, the Company has agreed to raise up to a further £1.5 million of equity funding through its UK based broker and advisors in the UK and Kenya

·    The £3.5 million of funds committed by QGC and additional £1.5 million of funding will be used by the Company to complete an updated Feasibility Study on Henkries and accelerate the planned development of a new uranium mine

QGC Investment Underwrites RTO Transaction and Re-Admission

QGC has an exemplary record in South Africa's mining sector and a firm commitment to advancing green technologies and renewable energies, by the ethical, sustainable, and responsible mining of critical metals. The £3.5 million committed equity investment in the Company to support the development of Henkries is QGC's first investment in the uranium sector and builds on its significant position in South Africa's energy sector.

The £3.5 million investment by QGC ensures the Company has sufficient working capital to complete its planned expansion resource drilling at Henkries and additional mining and metallurgical technical work required to update the previously completed positive Feasibility Study completed by Anglo American and to allow an accelerated development timetable and decision to mine.

With this funding secured from QGC, the Company has elected to raise up to a further £1.5 million through its UK broker and through clients of East Africa based mining investment group Gathoni Muchai Investments Limited ('GMI').

Together this aggregate £5 million of equity funding will allow the Company to accelerate its development and production plans at Henkries and target the acquisition of other complementary and strategic uranium projects in Africa.

Board of Directors With Capability to Deliver Value

Mr Quinton van der Burgh will join the Board of Directors on completion of the RTO and the re-admission of the Company's shares to trading on the Standard List of the London Stock Exchange. Mr Quinton is the CEO and founder of QGC and has almost 20 years of mining experience and has developed over 47 projects to mining stage, including two large-scale mining companies.

Mr van der Burgh will work alongside Mr Jason Brewer, Mr Sean Heathcote, Mr Bongani Raziya, Ms Jackline Muchai and current directors Mr James Longley and Mr Charles Tatnall in advancing the Company's uranium development and production strategy at both Henkries and throughout Southern and East Africa.

Quinton van der Burgh, Q Global Commodities CEO said: "We are excited to commit to this significant equity investment into Stranger - to be renamed Neo Energy Metals - and to strike up this partnership with what will be London's most advanced uranium development company.

"With this strategic £3.5 million investment, we are reaffirming our dedication to exploring and developing uranium reserves in South Africa and in continuing to expand QGC's critical metals and green technologies portfolio.

"My team has completed a thorough technical analyses and review and we are confident in the promising prospects of Henkries. We are particular confident in the outlook for the uranium sector and believe that Henkries is well placed to deliver into that market in the short term.

"Our intention is to support the Board in achieving its growth objectives and initiating both off-site and on-site operations. I look forward to joining the Board of Directors on the re-listing of the Company on the London Stock Exchange, and to collectively grow this company and generate substantial value within the metals and uranium industry in South Africa."

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For further information visit www.strangerholdingsplc.co.uk or contact the following: