METALNRG PLC

Capital/Financing Update • Feb 9, 2024

National Storage Mechanism | Additional information

RNS Number : 5618C

MetalNRG PLC

09 February 2024

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.

9 January 2024

MetalNRG plc

(the "Company" or "MetalNRG")

Issue of Convertible Loan Notes

MetalNRG (LON:MNRG), the natural resources and energy investment company, announces that is has raised £223,000 via the issue of convertible loan notes ("CLNs").  The CLNs carry a 15% per annum coupon and are convertible 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, together with an additional unsecured short-term loan of £150,000 that has been provided to the Company, will be used to undertake specific due diligence work on projects that have been identified as potential reverse takeover targets for the Company and for general corporate purposes.

For further information, please contact:

MetalNRG PLC:
Rolf Gerritsen		+44 (0) 207 796 9060
Chris Chadwick		+44 (0) 207 796 9060
Peterhouse Capital Limited - Joint Broker:
Lucy Williams	+ 44 (0) 207 469 0930
Duncan Vasey	+ 44 (0) 207 469 0930
S I Capital Limited - Joint Broker:
Nick Emerson	+44 (0) 1483 413500
IFC Advisory Limited - Financial PR and IR
Tim Metcalfe	+44 (0) 203 934 6630
Florence Chandler	+44 (0) 203 934 6630

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