Business
Placing to raise £1.8 million
Alien Metals Limited announced a placing to raise £1.8 million through the issuance of 2,000,000,000 new shares at 0.09 pence each, with an additional £250,000 of convertible notes being converted into shares. The company also plans to appoint Michael Carter as a new independent non-executive director and has extended the repayment date of its funding facility to June 30, 2026. The net proceeds will be used for iron ore project advancement, working capital, and partial repayment of the funding facility. The placing price represents a discount to the previous day's closing price, and subscribers will receive warrants. Disclaimer*
About this update from Alien Metals Ltd
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (596/2014/EU) AS THE SAME HAS BEEN RETAINED IN UK LAW AS AMENDED BY THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.\n \n11 December 2025\nAlien Metals Ltd\n(\"Alien Metals\", the \"Company\" or the \"Group\")\n \nPlacing to raise £1.8 million\n Proposed appointment of new director\n \n \nAlien Metals Ltd (AIM:UFO), a minerals exploration and development company, is pleased to announce a placing of 2,000,000,000 new common shares of no par value each in the Company (\"Common Shares\") (the \"Fundraise Shares\") at an issue price of 0.09 pence (the \"Placing Price\") to raise gross proceeds of £1.8 million from investors (the \"Placing\").\n \nThe Company is also delighted to announce that subject to completion of the customary appointment process including due diligence by the Company's Nominated Adviser, Mr Michael Carter will be appointed as a new independent non-executive director of the Company. Further information on Mr Carter is set out below.\n \nAlongside the Placing, Bennelong Resource Capital Pty Ltd (\"Bennelong\") has agreed that £250,000 (\"Conversion Amount\") of the convertible notes held by it pursuant to the existing funding facility in place (as previously announced on 15 March 2024) (\"Funding Facility\") will be converted into 277,777,777 Common Shares (\"Conversion Shares\") at the Placing Price (the \"Conversion\") with the repayment date of the balance of the Funding Facility outstanding to be repaid or converted being extended from 31 December 2025 to 30 June 2026 (the \"Extension\").\n \n \n \nBelinda Murray, Executive Director, commented:\n \n\"We are pleased to have secured £1.8 million in new funding, supported by investors who we believe recognise the strength of Alien's diversified portfolio spanning silver, platinum group metals, copper, nickel and iron ore. I am confide...