Issue of Convertible Loan Notes

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC UK LAW PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) ("UK MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

20 November 2024

MetalNRG plc

(the "Company" or "MetalNRG")

Issue of Convertible Loan Notes

MetalNRG (LON:MNRG), the natural resources and energy company, announces that is has raised £475,000 via the issue of convertible loan notes ("CLNs").  The CLNs carry a 15% per annum coupon and are convertible into new ordinary shares in the Company, at a 20% discount to the prevailing share price, upon the earlier of the Company completing a transaction classified as a reverse takeover under Listing Rule 5.6.4 or two years from the date of issue.  The CLNs are also subject to customary events of default.

The funds raised through the issue of the CLNs will be used to cover certain transaction costs in relation to the Company's proposed acquisition of Compagnie Minière de l'Oumejrane S.A. ("CMO"), as announced on 17 October 2024, and for general corporate purposes.

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