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. 

28 February 2023

Technology Minerals Plc 

("Technology Minerals" or the "Company") 

Facility Drawdown, Conversion Notice and Total Voting Rights

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 further £560,000 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 on 9 December 2022. Following this, a total of £1,060,000 of the Facility has been drawn down.

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.

Conversion Notice and Total Voting Rights

In addition, Technology Minerals announces that it has received further Conversion Notices from Macquarie Bank Limited ("MBL") for a total of £210,000 of Convertible Bonds of the first £500,000 tranche drawn from the £4.0 million convertible bond facility (the "Facility").

Technology Minerals will issue 21,144,841 ordinary shares of £0.001 per share ("Ordinary Shares") at a conversion price of 0.993150p per Ordinary Share. 

Admission and Total Voting Rights

Application will be made for the 21,144,841 new ordinary shares, which will rank pari passu in all respects with the existing ordinary shares of the Company, to be admitted to the Standard List segment of Official List and to trading on the main market of the London Stock Exchange plc, which is expected to occur on or around 8.00 a.m. on 3 March 2023 ("Admission"). Upon Admission, the total number of issued shares and the total number of voting rights in the Company will be 1,333,482,275.

The above figure of 1,333,482,275 should 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 in, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

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