Bradda Head Lithium Ltd.

Management Reports • Apr 4, 2025

National Storage Mechanism | Additional information

RNS Number : 6086D

Bradda Head Lithium Ltd

04 April 2025

4 April 2025

Bradda Head Lithium Ltd

("Bradda Head", "BHL" or the "Company")

Repricing and Extension of Share Options

Extension of Share Warrants

Bradda Head Lithium Ltd (AIM:BHL), the North America-focused lithium development group, announces the repricing of 8,350,000 outstanding share options ("Existing Options"); such Existing Options representing 2.14% of the Company's current issued share capital.

The repricing applies to Existing Options previously granted to certain Directors and Management of the Company pursuant to the Company's share option plan, as follows:

Name	Issue date	Existing Options exercise price	Number
Promaco Limited*	Sep-21	£0.090	1,250,000
Piotr Schabik	Sep-21	£0.090	250,000
Promaco Limited*	Apr-22	£0.180	3,000,000
Alex Borrelli	Dec-22	£0.105	500,000
Euan Jenkins	Dec-22	£0.105	500,000
Promaco Limited*	Apr-23	£0.060	1,000,000
Joey Wilkins	Apr-23	£0.060	1,500,000
Piotr Schabik	Apr-23	£0.060	250,000
Ian Christianson	Apr-23	£0.060	100,000
Total options			8,350,000

* Promaco Limited is a company owned by a trust of which Ian Stalker, Chair, is a beneficiary

The Existing Options will be repriced from various existing exercise prices of £0.06, £0.09, £0.105, and £0.18 per ordinary share to £0.015 (1.5 pence) per common share, being a premium of 30% to the closing share price on 2 April 2025 of £0.0115 (1.15 pence) and a premium of 7% to the 12 month VWAP. The repricing does not affect the Existing Options' current vesting schedules, if applicable, and does not extend the term of the Existing Options. The repricing is being taken in response to the current market challenges impacting the lithium sector, a resulting reduction in the Company's share price, and to better align with the recent share options granted to certain officers and directors at a price of £0.015 (1.5 pence). Whilst the Directors recognise the decline in the share price, they feel that incentivising Directors and Management is important, particularly recognising the reduced corporate overhead the Company is focused on.

In addition, the exercise periods of certain Share Options awarded during June 2021 and September 2021 have been extended for an additional period of 2 years, with the exercise period now being 7 years from grant date. Following the extension, a total of 15,000,000 Share Options have an exercise period up to June 2028, and a further 1,500,000 Share Options have an exercise period of September 2028.

Extension of Warrants Exercise Period

The Company has also extended the exercise period of Share Warrants awarded to Beaumont Cornish Limited, nominated advisor to the Company, for an additional period of 2 years. A total of 1,818,182 Share Warrants were awarded to Beaumont Cornish as part of the AIM listing in July 2021. The exercise period of these Share Warrants has been extended to 19 July 2028, but these remain exercisable at the original exercise price of £0.055 (5.5 pence).

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014, as it forms part of  UK  Domestic Law by virtue of the  European Union  (Withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

ENDS

Bradda Head Lithium Limited	Beaumont Cornish	Panmure Liberum	Shard Capital	Tavistock
Company	Nomad	Joint Broker	Joint Broker	Investor Relations
Ian Stalker, Executive Chair Denham Eke, Finance Director	James Biddle / Roland Cornish	Rauf Munir	Damon Heath / Isabella Pierre	Nick Elwes / Josephine Clerkin
+44 1624 639 396	+44 20 7628 3396	+44 20 7886 2500	+44 207 186 9927	+ 44 20 7920 3150 [email protected]

About Bradda Head Lithium Ltd.

Bradda Head Lithium Ltd. is a North America-focused lithium development group. The Company currently has interests in a variety of projects, the most advanced of which are in Central and Western Arizona: The Basin Project (Basin East Project, and the Basin West Project) and the Wikieup Project.

The Basin East Project has a Measured Mineral Resource of 20 Mt at an average grade of 929 ppm Li for a total of 99 kt LCE and an Indicated Mineral Resource of 122 Mt at an average grade of 860 ppm Li and an Inferred Mineral Resource of 499 Mt at an average grade of 810 ppm Li for a total of 2.81 Mt LCE. The Group intends to continue to develop its three phase one projects in Arizona, whilst endeavouring to unlock value at its other prospective pegmatite and brine assets in Arizona, Nevada, and Pennsylvania. All of Bradda Head's licences are held on a 100% equity basis and are in close proximity to the required infrastructure. Bradda Head is quoted on the AIM of the London Stock Exchange with the ticker of BHL.

Forward-Looking Statements

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.

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