Issue of Equity - convertible loan notes

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

24 February 2021

MetalNRG plc

("MetalNRG" or the "Company")

Conversion and repayment of convertible loan notes and Issue of Equity

MetalNRG (LON:MNRG), the natural resource investing and exploration company, announces the conversion and repayment of convertible loan notes ("CLNs") and the issue of new MetalNRG ordinary Shares.

Conversion of CLNs

£240,000 of CLNs have been converted into MetalNRG ordinary shares ("New Shares") at a conversion price of 0.6 pence per share and 40,000,000 New Shares have been issued to investors as a result of this conversion.

Repayment of CLNs

£100,000 of CLNs together with accrued interest have been repaid to investors. 

Admission of New Shares to trading on the Main Market of the London Stock Exchange

Application will be made for the New Shares to be admitted to listing on the Standard segment of the Official List and trading on the London Stock Exchange's Main Market for listed securities ("Admission"). Admission of the New Shares is expected to occur on or around 2 March 2021.

The New Shares will rank pari passu with the existing ordinary shares of the Company.

Total Voting Rights

For the purposes of the Financial Conduct Authority's Disclosure and Transparency Rules ("DTRs"), following the issue of the New Shares referred to above, the issued ordinary share capital of MetalNRG will consist of 485,653,488 ordinary shares with voting rights attached (one vote per share). There are no shares held in treasury.  This total voting rights figure may be used by shareholders as the denominator for the calculation by which they will determine whether they are required to notify their interest in, or a change to their interest in, MetalNRG under the DTRs.

The information set out below is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014:

The release of this information was arranged by Rolf Gerritsen, Chief Executive Officer.

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