Business
Subscription to Raise £4.7 Million
Strategic Minerals PLC has successfully raised gross proceeds of approximately £4.7 million through a direct subscription of 134,285,712 new ordinary shares at 3.5 pence per share, a price representing a 16.7% discount to the previous day's closing mid-market price. This new investment, led by a prominent international investor, is intended to significantly accelerate the development of the company's Redmoor Tungsten-Tin-Copper Project in Cornwall. Following admission of the new shares on March 25, 2026, the total number of ordinary shares in issue will be 2,818,775,969. 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[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR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.\n19 March 2026\nStrategic Minerals Plc\n(\"Strategic Minerals\" or the \"Company\")\n \nSubscription to Raise £4.7 Million\n \nNew investment led by prominent international investor to further expedite accelerated development of flagship UK tungsten project\n \nStrategic Minerals (AIM: SML; USOTC: SMCDF), an international mineral exploration and production company, is pleased to announce it has raised gross proceeds of approximately £4.7 million through direct subscriptions for 134,285,712 new ordinary shares of 0.1 pence each in the Company (\"Subscription Shares\") at a price of 3.5 pence per new ordinary share (\"Issue Price\"), (the \"Subscription\").\n \nThe Subscription was led by a prominent international investor who approached the Company, which the Board views as a strategically important moment in the Company's development.\n \nThe Issue Price represents the Company's volume weighted average price for the 30 day period to 18 March 2026 and is a discount of 16.7% to the closing mid-market price of the Company's shares on 18 March 2026, being the latest practicable date prior to the publication of this announcement.\n \nThe net proceeds of the Subscription will significantly accelerate the Company's Redmoor Tungsten-Tin-Copper Project in Cornwall (\"Redmoor\"), at an opportune time for the development of critical minerals.\n \nCharles Manners, Executive Chair of Strategic Minerals, commented:\n\n\"Having been approached by a prominent international investor, the Board decided to take the opportunity to fas...