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. 

16 December 2022

Technology Minerals Plc 

("Technology Minerals" or the "Company") 

First Tranche of Facility Drawdown

Technology Minerals Plc (LSE: TM1), the first listed UK company focused on creating a sustainable circular economy for battery metals, announces that it has drawn down a £500,000 tranche from the £4.0 million convertible bond facility (the "Facility") with Macquarie Bank Limited ("MBL") and Atlas Capital Markets LLC ("ACM") as detailed in the Company's announcement of 9 December 2022.

This convertible bond tranche has a coupon of 5% per annum over the SONIA rate, payable quarterly in cash or in shares at the Company's discretion. As part of the agreement, MBL and ACM can convert the convertible bonds to Technology Minerals shares ("Shares") by issuing a conversion notice with the price set at 90% of the 3-day Volume Weighted Average Price of the Shares, where the three days may be consecutive or not and are selected by MBL or ACM (as applicable) from the 20 days prior to the issue of a conversion notice by MBL or ACM. The convertible bonds shall have a maturity of two years from issuance.

Enquiries

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 extracting raw materials required for Li-ion batteries, whilst solving the ecological issue of spent Li-ion batteries, by recycling them for re-use by battery manufacturers. With the increasing global demand for battery metals to supply electrification, the group will explore, mine, and recycle metals from spent batteries. Further information on Technology Minerals is available at www.technologyminerals.co.uk