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Signs non-binding US$20 million royalty agreement
Fulcrum Metals plc has entered into a non-binding US$20 million royalty financing term sheet with Chancery Royalty for its Teck-Hughes tailings project, which would involve a 5% Net Smelter Return royalty on gold production, with Fulcrum retaining the right to repurchase 2% for US$10 million. Additionally, Fulcrum has secured a £200,000 strategic investment from Chancery Royalty through the issuance of new ordinary shares at 8.5 pence each, with warrants attached. These agreements are contingent upon successful pilot-scale testing and the negotiation of definitive documentation, and they represent a potential non-dilutive funding route for the Teck-Hughes project and a framework for future royalty opportunities. Disclaimer*
About this update from Fulcrum Metals Plc
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014 (WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018) ("UK MAR"). Fulcrum Metals plc / EPIC: FMET / Market: AIM / Sector: Mining 29 June 2026 Fulcrum Metals plc ("Fulcrum" or the "Company" or the "Group") Fulcrum signs non-binding US$20 million royalty financing term sheet and enters into £200,000 strategic investment with Chancery Royalty Fulcrum Metals plc (AIM: FMET), a company pioneering the use of innovative cyanide-free technologies developed by Extrakt Process Solutions to recover precious and critical metals from mine waste and support site regeneration, is pleased to announce that it has entered into a non-binding US$20 million royalty financing term sheet and signed a £200,000 equity subscription with Chancery Royalty Ltd. ("Chancery Royalty"), in relation to the Company's Teck-Hughes tailings project in Kirkland Lake, Ontario. Highlights: · US$20 million non-binding royalty financing term sheet signed with Chancery Royalty · Proposed 5% NSR over Teck-Hughes gold production provides a potential non-dilutive route to production funding · Fulcrum would retain the right to repurchase 2% of the royalty for US$10 million · £200,000 subscription for new ordinary shares in Fulcrum by Chancery at 8.5p per share · Potential framework for future royalty opportunities beyond the Company's Teck-Hughes tailings project · Definitive agreements subject to successful pilot-scale testing and customary conditions The proposed royalty financing has been structured as a potential source of non-dilutive project development capital to support advancing Fulcrum's wholly owned Teck-Hughes Project towards commercial production, subject to successful pilot-scale testing, technical studies, permitting and definitive documentation. Ryan Mee, Chief Executive Officer of Fulcrum, commented: "We see Chancery as an ambitious and growth-oriented royalty company and welcome them as a shareholder and a potential long-term funding partner. The proposed royalty financing provides a framework to advance Teck-Hughes from pilot...
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