First Class Metals PLC Admission of Shares (9056Z)
January 17 2024 - 6:00AM
UK Regulatory
TIDMFCM
RNS Number : 9056Z
First Class Metals PLC
17 January 2024
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
"UK 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
17 January 2024
Admission of Shares
First Class Metals PLC ("First Class Metals" "FCM" or the
"Company"), the UK listed metals exploration company seeking
economic metal discoveries across its extensive Canadian
Schreiber-Hemlo, Sunbeam and Zigzag land holdings, announces that
in respect of the 16,373,674 new ordinary shares ("Shares") issued
since the Company's IPO on 29 July 2022, no applications were made
for the Shares to be admitted to trading. This is a result of the
Company and its Directors being given incorrect information by its
former financial adviser.
In order to correct this position, the Company will now commence
applications for the Shares to be admitted to trading on the
Official List of the Financial Conduct Authority ("FCA") and to
trading on the Main Market of the London Stock Exchange. To ensure
compliance with the Prospectus Regulation Rules, the Shares will be
admitted in four tranches as follows:
i) 13,134,411 Shares will be admitted to trading on or around 23 January 2024;
ii) 2,626,882 Shares will be admitted to trading on or around 26 January 2024;
iii) 525,376 Shares will be admitted to trading on or around 31 January 2024; and
iv) 87,005 Shares will be admitted to trading on or around 5 February 2024.
For the avoidance of doubt, the Company's issued share capital
remains 82,045,729 ordinary shares of 0.1p each, with one vote per
share (and no such shares are held in treasury). The total number
of voting rights is therefore 82,045,729 and this figure may be
used by shareholders as the denominator for the calculations to
determine if they have a notifiable interest in the share capital
of the Company under the FCA's Disclosure Guidance and Transparency
Rules, or if such interest has changed.
For further information, please contact:
James Knowles, Executive
Chairman JamesK@Firstclassmetalsplc.com 07488 362641
Marc J Sale, CEO MarcS@Firstclassmetalsplc.com 07711 093532
-------------------------------- -------------
Novum Securities Limited
(Financial Adviser)
David Coffman/Dan Harris/George
Duxbe r ry
Novum Securities Limited www.novumsecurities.com (0)20 7399 9400
First Class Metals PLC - Background
First Class Metals is focussed on exploration in Ontario, Canada
which has a robust and thriving junior mineral exploration sector.
Specifically, t he Hemlo 'camp' is a proven world class address for
gold /VMS exploration. This geological terrane has significant
production , both base / precious metals and a prolific number of
exploration projects and numerous prospector's 'showings'.
FCM currently holds 100% ownership of seven claim blocks
covering over 180km(2) along a 150km strike of the
Hemlo-Schreiber-Dayohessarah greenstone belt which also contains
the >23M oz shear hosted Hemlo gold mine operated by Barrick
Gold. Late last year FCM completed the option to purchase the
historical high grade (gold) Sunbeam past producing mine
The significant potential of the properties for precious, base
and battery metals relate to: 'nearology' insomuch that all
properties lie close to identified mineral anomalism, for example
Palladium One's RJ and Smoke Lake nickel projects are close to the
FCM's West Pickle Lake drill proven Ni-Cu project. This also
demonstrates the second critical asset the properties hold: vector,
anomalies, be they geological, geochemical, or geophysical that
have demonstrated mineral potential extend on to FCM's
properties.
The inferred shear on the Esa property is being explored by
neighbours both to the west and east where it crosses into their
properties. Furthermore, the properties have not been extensively
explored either historically or more contemporaneously. This is
attributable to the overall lack of outcrop. However, modern
exploration techniques are better able to 'see through' the ground
cover and to identify anomalies.
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.
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