Business
Placing and Subscription to Raise £4 Million
Strategic Minerals plc has successfully raised £4 million through a placing and subscription of 307,692,308 new ordinary shares at 1.3 pence per share, a price reflecting the closing mid-market price on January 21, 2026. This fundraise, which saw demand exceed expectations from a mix of UK and international investors, will accelerate the development of the Redmoor Tungsten-Tin-Copper Project in Cornwall. The net proceeds will fund a 16,000-meter infill drilling program, expected to complete the requirements for a prefeasibility study, and expand the project team. Additionally, 7,500,000 new ordinary shares were issued for advisory fees. Admission of the total 315,192,308 new shares to AIM is expected on or around January 27, 2026, bringing the total issued share capital to 2,684,490,257 ordinary shares. Disclaimer*
About this update from Strategic Minerals Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR NEW ZEALAND OR IN OR INTO ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A BREACH OF ANY APPLICABLE LAW OR REGULATION.\nTHE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n22 January 2026\nStrategic Minerals Plc\n(\"Strategic Minerals\" or the \"Company\")\n \nPlacing and Subscription to Raise £4 Million\n \nFundraise accelerates Redmoor development, enabling infill drilling for PFS\n \nStrategic Minerals plc (AIM: SML; USOTC: SMCDF), an international mineral exploration and production company, is pleased to announce it has raised gross proceeds of £4 million through the issue of 307,692,308 new ordinary shares of 0.1 pence each in the Company (\"Ordinary Shares\") at a price of 1.3 pence per new Ordinary Share (\"Issue Price\"), (the \"Fundraise\"). The Fundraise comprises the issue 123,076,922 placing shares (\"Placing Shares\") and 184,615,386 subscription shares (\"Subscription Shares\").\n \nThe Issue Price was priced at 1.3 pence representing the closing mid-market price of the Company's shares on 21 January 2026, being the latest practicable date prior to the publication of this announcement.\n \nDemand for the Fundraise exceeded expectations and comprised both UK and international sophisticated and long-term ultra-high net worth investors, family offices and institutions.\n \nThe Fundraise will significantly accelerate the Company's Redmoor Tungsten-Tin-Copper Project in Cornwall (\"Redmoor\") into the next phase, at an opportune time for the development of critical mineral projects.\n \nNet proceeds will be used to fund a 16,000 metre infill drilling programme and expand the operation and project team at Redmoor. This work is expected to substantially complete all the requi...