Business
Further Extension of Ambeon Option Period
Capital Metals PLC (AIM: CMET) announced a two-week extension to the Ambeon Option period, until September 2nd, 2025. Ambeon Capital PLC may invest up to an additional US$2 million at £0.0275 per share. To date, US$825,000 has been subscribed. The board expects the full balance to be exercised. This is considered a related party transaction under AIM Rule 13, deemed fair and reasonable by the company's independent directors. The Taprobane Minerals Project in Sri Lanka is expected to create over 300 jobs and generate over US$150 million in government royalties and taxes. A previous Preliminary Economic Assessment valued the project at US$155-235 million. Disclaimer*
About this update from Capital Metals Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \n19 August 2025\n \nCapital Metals PLC\n \n(\"Capital Metals\" or the \"Company\")\n \nFurther Extension of Ambeon Option Period\n \nFurther to the 29 May 2025 announcement regarding Ambeon Capital PLC's (\"Ambeon\") strategic investment of US$2 million and the Ambeon Option, and the subsequent 16 July and 12 August 2025 announcements, Capital Metals (AIM: CMET), a mineral sands company approaching mine development stage at the high-grade Taprobane Minerals Project in Sri Lanka (the \"Project\"), announces it has agreed with Ambeon an extension of the Ambeon Option period for two weeks until 2 September 2025 (the \"Ambeon Option Extension\"). \n \nPursuant to the Ambeon Option, Ambeon and/or its third-party assignees (Investors) may invest up to a further US$2 million in the Company at an issue price of 2.75 pence per share of which, to date, US$825k of the Ambeon Option has been subscribed for. Based on ongoing discussions, the Board expects that the full balance is likely to be exercised.\n \nRelated Party Transaction\n \nAs Ambeon is a Substantial Shareholder in the Company pursuant to the AIM Rules for Companies (\"AIM Rules\"), the Ambeon Option Extension is treated as a related party transaction under AIM Rule 13 of the AIM Rules. The Company's independent directors consider, having consulted with Strand Hanson Limited, the Company's nominated adviser, that the terms of the Ambeon Option Extension are fair and reasonable insofar as the Company's shareholders are concerned.\n \nCapitalised terms used herein without definition shall have the same meanings given to them in the 29 May 2025 \"Strategic Investment & Project Development MoU\" announcement released at 7.00 a.m.\n \nFor further information, please visit www.capitalmetals.com or contact:\n \n\n\n\n\nCapital Metals plc\nGreg Martyr (Executive Chairman)\n\n\nVia Vigo Consulting\n\n\n\n\nVigo Consulting (Investor Relations)\nBen Simons / Peter Jacob\n\n...