The information contained within
this announcement is deemed to constitute inside information as
stipulated under the retained EU law version of the Market Abuse
Regulation (EU) No. 596/2014 (the "EU MAR") which is part of UK law
by virtue of the European Union (Withdrawal) Act 2018. The
information is disclosed in accordance with the Company's
obligations under Article 17 of the UK MAR. Upon the publication of
this announcement, this inside information is now considered to be
in the public domain.
FIRST
CLASS METALS PLC
21
October 2024
Issue of Equity-Professional
Fees
First Class Metals PLC ("First
Class Metals" "FCM" or the "Company") the
UK metals exploration company focused on the discovery of economic
metal deposits across its extensive Canadian - Northern Ontario
land holding, announces that it has issued 2,742,250 ordinary shares of £0.001 par value
("Shares") to a number of key service
providers, in lieu of professional fees, totalling
£70,111.
Application is being made for the
2,742,250 Shares to be admitted to the Official List and to trading
on the Main Market of the London Stock Exchange which is expected
to be on or around 24 October 2024. These Shares
rank pari
passu with the existing ordinary shares of the
Company.
Total Voting Rights
In accordance with the FCA's
Disclosure Guidance and Transparency Rules, including the issue of
the Shares, the Company's issued share capital consists of
100,819,240 Shares, each with one voting right. The Company does
not hold any Shares in treasury. Therefore, the total number of
voting rights in the Company is 100,819,240.
The above figure of 100,819,240 should be used by shareholders in
the Company as the
denominator for the calculations by which they will determine if
they are required to notify their
interest in, or a change to their interest in, the share capital of
the Company under the Financial
Conduct Authority's Disclosure Guidance and Transparency
Rules.
For
Further Information:
Engage with us by asking questions,
watching video summaries, and seeing what other shareholders have
to say. Navigate to our
Interactive Investor hub here: Home | First Class
Metals (firstclassmetalsplc.com)
For
further information, please contact:
James Knowles, Executive Chair
Email: JamesK@Firstclassmetalsplc.com
Tel: 07488 362641
Marc J Sale, CEO
Email: MarcS@Firstclassmetalsplc.com
Tel: 07711 093532
Novum Securities Limited (Financial Adviser)
David Coffman / George Duxberry
Website: www.novumsecurities.com
Tel: (0)20 7399 9400
Axis Capital Markets (Broker)
Lewis Jones / Ben Tadd
Website: Axcap247.com
Tel: (0)203 026 0449
NOTES TO EDITORS
First Class Metals PLC - Background
First Class Metals listed on the LSE
in July 2022 and is focused on metals exploration in Ontario,
Canada which has a robust and thriving junior mineral exploration
sector. In particular, the Hemlo 'camp' near Marathon, Ontario is a
proven world class address for gold exploration, featuring the
Hemlo gold deposit operated by Barrick Gold (>23M oz gold
produced), with the past producing Geco and Winston Lake base metal
deposits also situated in the region.
FCM currently holds 100% ownership
of seven claim blocks covering over 180km² along a 150km strike of
the Hemlo-Schreiber-Dayohessarah greenstone belt, exploring for
gold, base metals, and rare earth element mineralization. In
addition, FCM is carrying out a joint venture with Palladium One on
the West Pickle Lake Property in the region, a drill-proven
ultra-high-grade Ni-Cu project.
The flagship property North Hemlo
had a high-definition low level magnetic Heli-borne survey flown in
April 2022, this was followed with ground prospecting which
ultimately defined the 'Dead Otter Trend' which is a discontinuous
4.5km gold anomalous trend with a 19.6g/t Au peak grab sample. This
sampling being the highest known assay ever recorded on the North
Limb of Hemlo.
In October 2022 FCM completed the
option to purchase the historical high-grade past-producing Sunbeam
gold mine near Atikokan, Ontario, ~15 km southeast of Agnico
Eagle's Hammond Reef gold deposit (3.3 Moz of open pit probable
gold reserves).
FCM acquired the Zigzag Project near
Armstrong, Ontario in March 2023. The property features
Li-Ta-bearing pegmatites in the same belt as Green Technology
Metals' Seymour Lake Project, which contains a Mineral Resource
estimate of 9.9 Mt @ 1.04% Li2O. Zigzag was drilled prior to
Christmas 2023 and results have now been released.
The significant potential of the
properties for precious, base and battery metals relates to
'nearology', since all properties lie in the same districts as
known deposits (Hemlo, Hammond Reef, Seymour Lake), and either
contain known showings, geochemical or geophysical anomalies, or
favourable structures along strike from known showings (e.g. the
Esa project, with an inferred Hemlo-style shear along strike from
known gold occurrences).
Forward Looking
Statements
Certain statements in this announcement may contain
forward-looking statements which are based on the Company's
expectations, intentions and projections regarding its future
performance, anticipated events or trends and other matters that
are not historical facts. Such forward-looking statements can be
identified by the fact that they do not relate only to historical
or current facts. Forward-looking statements sometimes use words
such as 'aim', 'anticipate', 'target', 'expect', 'estimate',
'intend', 'plan', 'goal', 'believe', or other words of similar
meaning. These statements are not guarantees of future performance
and are subject to known and unknown risks, uncertainties and other
factors that could cause actual results to differ materially from
those expressed or implied by such forward-looking statements.
Given these risks and uncertainties, prospective investors are
cautioned not to place undue reliance on forward-looking
statements. Forward-looking statements speak only as of the date of
such statements and, except as required by applicable law, the
Company undertakes no obligation to update or revise publicly any
forward-looking statements, whether as a result of new information,
future events or otherwise.