NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSE OF ARTICLE 7 OF REGULATION 2014/596/EU WHICH IS PART OF UNITED KINGDOM ("UK") DOMESTIC LAW PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) ("UK MAR"). MARKET SOUNDINGS WERE TAKEN FROM CERTAIN PERSONS IN RELATION TO THE PLACING AND THE SUBSCRIPTION. THIS INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION.

URA Holdings plc

("URA" or the "Company")

Instituational fundraise to raise £475,000 to fund working capital for operations at the Gravelotte Emerald Mine (the "Fundraise")

URA is delighted to announce that pursuant to the Fundraise it has raised £475,000, (before expenses from existing institutional investors) through a placing (the Placing"), issuing in aggregate 23,750,000 new ordinary shares in the capital of the Company ("New Ordinary Shares") at an issue price of 2p per New Ordinary Share. The Fundraise was conducted for the Company by Capital Plus Partners.

Highlights

·    £475,000, before expenses, raised through the Placing of 23,750,000 Ordinary shares with  existing institutional investors at a price of 2p per Ordinary Share

·    The 30 day moving average price of the Company's Ordinary Shares at the market close on 23 February 2024 (last practicable date before pricing) was 1.65p per Ordinary share and the mid-market price on that date was 2p per Ordinary share

·    The proceeds from the Fundraise from institutional investors will provide additional working capital for the Company's Gravelotte Emerald Mine (GEM) to continue production following the commencement of  mining

As a further component of the Fundraise, the Company executed a warrant instrument, issuing 1,425,000 warrants to Capital Plus Partners in accordance with their engagement letter at an exercise price of 2p per Ordinary Share for a period of three years.

Ed Nealon, Chairman of URA Holdings plc commented:

"We are delighted to announce this successful institutional placing. This significant increase in their investment by well-known UK institutions is a testimony tof the quality of our assets, our team and the progress we have made and will continue to make as we not only start production but focus on post production activities like sales, marketing and expansion. The proceeds will be used primarily to meet the working capital needs of our operations at the Gravelotte Emerald Mine once production has commenced and is expected to take us through to first revenue."

Additional information

Applications for Admission

Applications will be made for the 23,750,000 Ordinary Shares to be admitted to the standard segment of the Official List and to trading on the Main Market for listed securities of the London Stock Exchange plc. It is expected that admission will take place on or around 8.00 a.m. on 4 March 2024.

The 23,750,000 Ordinary Shares will, on admission, rank pari passu in all respects with the Ordinary Shares currently in issue and will rank in full for all dividends and other distributions hereafter declared, paid or made on the share capital of the Company.

Total Voting Rights

Following the issue of the Ordinary Shares, the Company will have 276,095,590 Ordinary Shares in issue, each share carrying the right to one vote.

This figure of 276,095,590 Ordinary Shares 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 in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

Enquiries:

About URA Holdings Plc

URA is focused on restarting the Gravelotte Emerald Mine. URA Holdings is committed to sustainable and efficient mining practices, utilising modern technology to revive one of the world's historically significant emerald mines.

For more information about URA Holdings Plc, including investor relations and corporate news, please visit our website at www.uraholdingsplc.co.uk or follow us through our social media channel:

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