XTRACT RESOURCES PLC

Share Issue/Capital Change • Nov 13, 2025

National Storage Mechanism | Additional information

RNS Number : 4804H

Xtract Resources plc

13 November 2025

13 November 2025

For immediate release 

Xtract Resources Plc

("Xtract" or the "Company")

Issue of Equity and PDMR shareholding

The Board of Xtract Resources Plc ("Xtract" or the "Company") is pleased to announce a fundraising today for £2,000,000 at a price of 0.60 pence per Ordinary Share (the "Fundraising") principally for the ongoing advancement of its Silverking copper and Amghas antimony projects.

Executive Chairman Colin Bird commented: "This fundraising has been initiated in order to enable us to continue to develop our mine project in Morocco and invest in our joint venture with our partners in Silverking in Zambia and in particular, to complete construction of a processing plant at Silverking whilst continuing with exploration on the general licence area. The Board expects that the Silverking plant will be commissioned and mining start in 2026 to take advantage of current copper prices. In Morrocco, exploration will continue while Government approval is obtained to  redevelop the Amghas mine and construct a floatation plant."

Fundraising

The Company has today raised £2,000,000 before expenses through the issue of 333,333,332 new Ordinary Shares (the "New Shares") at a price of 0.60 pence per new Ordinary Share (the "Issue Price")  to certain existing shareholders and new investors conditional only upon admission of the New Shares to trading on AIM ("Admission"). The Fundraising comprises a placing of 304,999,999 new Ordinary Shares (the "Placing Shares") for £1,830,000 at the Issue Price (the "Placing") which has been arranged by Shard Capital Partners LLP. In addition to the Placing, the Company has arranged for direct share subscriptions for 28,333,333 new Ordinary Shares at the Issue Price to raise £170,000 (the "Subscription Shares"). Mr Colin Bird, a director and Executive Chairman of Xtract, will be subscribing for 3,333,333 Subscription Shares for £20,000 at the Issue Price (representing 0.39 % per cent of the existing issued share capital).

The Issue Price represents a discount of 14.29 per cent. to the closing middle market price of an Ordinary Share of 0.70 pence on 12 November 2025, being the latest practicable date prior to this announcement.

Each participant in the Fundraising will also receive one (1) warrant for each New Share subscribed pursuant to the Fundraising, exercisable at 1.20 pence per new ordinary share for three years from Admission. The Company is also issuing a warrant to Shard Capital Partners LLP to subscribe for a total of 18,300,000 new Ordinary Shares exercisable at the Fundraising Price for a period of three years from Admission ("Broker Warrants").

The net proceeds from the Placing will be principally utilised by the Company to advance its Silverking copper project in Zambia and the Amghas antimony project in Morocco with the objective being to create small production units to start the generation of cash flow to help scale both assets in the future.

The New Shares to be issued represent, in aggregate, approximately 38.92 per cent. of the Company's existing issued share capital.

The Fundraising is conditional only on Admission. The 304,999,999 Placing Shares and 28,333,333 Subscription Shares, amounting to 333,333,332 New Shares in aggregate, will when issued rank pari passu in all respects with the existing Ordinary Shares. Application will be made for admission to trading on AIM of the New Shares and Admission is expected to become effective and dealings in the New Shares will commence at 8.00 a.m. on  or around 27 November 2025.

Total Voting Rights

Following the issue of the New Shares, the Company's total issued share capital will consist of 1,189,708,447 Ordinary Shares with voting rights.  The Company does not hold any Ordinary Shares in treasury and accordingly there are no voting rights in respect of any treasury shares. 

On Admission, the abovementioned figure of 1,189,708,447 Ordinary Shares may 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, Galileo under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR"). The person who arranged for the release of this announcement on behalf of the Company was Colin Bird, Executive Chairman and Director.

Further information is available from the Company's   website which details the company's project portfolio as well as a copy of this announcement:  www.xtractresources.com

For further information, please contact: Xtract Resources PLC

Enquiries:

Xtract Resources Plc	Colin Bird, Executive Chairman	+44 (0)20 3416 6471 www.xtractresources.com
Beaumont Cornish Limited Nominated Adviser	Roland Cornish Michael Cornish Felicity Geidt	+44 (0)207628 3369 www.beaumontcornish.co.uk
Novum Securities Limited Joint Broker	Jon Bellis Colin Rowbury	+44 (0)207 399 9427 www.novumsecurities.com
Shard Capital Partners LLP Joint Broker	Damon Heath	+44 (0)207 186 9952 www.shardcapital.com

Beaumont Cornish Limited, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting as nominated adviser to the Company in relation to the matters referred herein. Beaumont Cornish Limited is acting exclusively for the Company and for no one else in relation to the matters described in this announcement and is not advising any other person and accordingly will not be responsible to anyone other than the Company for providing the protections afforded to clients of Beaumont Cornish Limited, or for providing advice in relation to the contents of this announcement or any matter referred to in it.

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Colin Bird

2

Reason for the notification

a)

Position/status

Executive Chairman

b)

Initial notification /Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Xtract Resources plc

b)

LEI

213800A71LZ79EKUNC34

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Ordinary Shares of 0.02p each ("Ordinary Shares")

Identification code

ISIN: GB00BYSX2795

b)

Nature of the transaction

Subscription for Ordinary Shares

c)

Price(s) and volume(s)

Price(s)	Volumes(s)
0.60 pence	3,333,333

d)

Aggregated information

n/a

- Aggregated volume

- Price

e)

Date of the transaction

13 November 2025

f)

Place of the transaction

Off-market

ENDS

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

IOEBSBDBXUBDGUX