Bradda Head Lithium Ltd.

Share Issue/Capital Change • Apr 13, 2022

National Storage Mechanism | Additional information

RNS Number : 2406I

Bradda Head Lithium Ltd

13 April 2022

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR NEW ZEALAND OR IN OR INTO ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A BREACH OF ANY APPLICABLE LAW OR REGULATION.

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT ITSELF CONSTITUTE A PROSPECTUS OR OFFERING MEMORANDUM OR AN OFFER FOR SALE OR SUBSCRIPTION IN RESPECT OF ANY SECURITIES IN THE COMPANY. THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES OF CAPITAL METALS PLC IN ANY JURISDICTION WHERE TO DO SO WOULD BREACH ANY APPLICABLE LAW OR REGULATION.

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

Bradda Head Lithium Limited

('Bradda Head' or the 'Company')

Results of UK Placing

TVR

Bradda Head Lithium Ltd (AIM:BHL, OTCQB:BHLIF), the North America-focused lithium development group, announces that further to its announcement at 07:00 (London time) on 11 April 2022 (the "Launch Announcement"), it has successfully completed and closed the UK Placing.

The UK Placing has raised, in aggregate, gross proceeds of approximately £1.96 million (approximately US$2.56 million at the Exchange Rate) through the placing of 14,532,857 Ordinary Shares to certain institutional and other investors at a price of 13.5 pence per share having received orders in excess of £6.6 million. Pursuant to the UK Placing, 14,532,857 Placing Warrants will be issued to those persons subscribing for UK Placing Shares on the terms outlined in the announcement of 11 April 2022.

In aggregate, the total amount raised from the North American Placing (as announced in the Launch Announcement) and the UK Placing is approximately £9.88 million (approximately US$12.9 million at the Exchange Rate) before expenses pursuant to which the Company will issue 73,195,560 Ordinary Shares at the Placing Price of 13.5 pence per Ordinary Share.

Capitalised terms used but not otherwise defined in this announcement shall have the meanings ascribed to such terms in the Launch Announcement, unless the context requires otherwise.

Certain Directors participated in the UK Placing as set out below:

Name	Holding of Existing Ordinary Shares	Number of Placing Shares subscribed	Number of Ordinary Shares held post Admission of the Placing Shares	% of Ordinary Share Capital held post Admission of the Placing Shares	Warrants issued pursuant to the Placings
Jim Mellon	64,145,176	834,228	64,979,404	16.64%	834,228
Ian Stalker	3,616,267	83,423	3,699,690	0.95%	83,423
Euan Jenkins	2,055,454	43,480	2,098,934	0.54%	43,480
Alex Borrelli	293,909	21,740	315,649	0.08%	21,740
Charles FitzRoy	11,091	2,174	13,265	0.00%	2,174

Each of the above Directors participated on the same terms as all other placees.

Charles FitzRoy, CEO of Bradda Head, commented:

"The significant demand we've had for this UK and North American Placing is extremely encouraging, and demonstrates the strong support from investors in Bradda Head's operations and objectives in the US lithium sector. It also allows us to proceed swiftly with our planned exploration and development timeline in Arizona and Nevada."

"Bradda received orders of approximately US$19m and ended up taking US$12.9m, showing the significant interest in the Company, and we have now brought in North American institutional investors to our registry. The UK placing was nearly 4x over-subscribed following the securing of US$10m from North American investors."

"These funds will allow us to progress our Basin Project towards an early stage technical study and to deliver our strategy of creating low-carbon footprint lithium projects in the US for the US market."

Admission and Total Voting Rights

Application will be made to the London Stock Exchange for admission of the 73,195,560 Placing Shares (comprising the North American Placing Shares and the UK Placing Shares) to trading on AIM. It is expected that admission will become effective and dealings in the Placing Shares commence on AIM at 8.00 a.m. on 20 April 2022 (or such later date as may be agreed between the Company, Red Cloud and the UK Brokers, but no later than 30 April 2022).

The Placing Shares will be issued fully paid and will rank pari passu in all respects with the Company's existing Ordinary Shares.

Following Admission, the total number of Ordinary Shares in the capital of the Company in issue will be 390,609,439 with voting rights. This figure may be used by shareholders 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 Company's share capital pursuant to the Company's Articles.

Contacts

Bradda Head Lithium Limited	+44 (0) 1624 639 396
Charlie FitzRoy, CEO Denham Eke, Finance Director
Beaumont Cornish (Nomad) James Biddle/Roland Cornish	+44 20 7220 1666
Peterhouse (Joint Broker)	+44 207 469 0930
Charles Goodfellow Duncan Vasey Lucy Williams
Shard Capital (Joint Broker)	+44 207 186 9927
Isabella Pierre
Red Cloud (North American Broker)	+1 416 803 3562
Joe Fars
Tavistock (PR)	+ 44 20 7920 3150
Nick Elwes Oliver Lamb Adam Baynes	[email protected]

Notes to Editors

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 an Indicated Mineral Resource of 17.6 Mt at an average grade of 912 ppm Li and 3.4% K for a total of 85 kt LCE and an Inferred Mineral Resource of 57.6 Mt at an average grade of 717 ppm Li and 3.3% K for a total of 220 kt LCE. In the rest of the Basin Project SRK has estimated an Exploration Target of between 300 to 1,300 Mt of material grading between 600 to 850 ppm Li which is equivalent to a range of between 1 to 6 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 and on the US OTCQB market with a ticker of BHLIF.

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Jim Mellon

2

Reason for notification

a)

Position / status

Non-Executive Deputy Chairman

b)

Initial notification/Amendment

Initial

3

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

a)

Name

Bradda Head Lithium Limited

b)

LEI

213800T879QQXKR2WN54

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

Identification code

Ordinary Shares of nil par value each

ISIN VGG154091083

Warrant over ordinary shares

Nature of the transaction

Issued pursuant to participation in subscription

c)

Price(s) and volumes(s)

Price(s)	Volumes(s)
13.5p per ordinary share	834,228 Ordinary Shares 834,228 Warrants

d)

Aggregated information

n/a

e)

Date of the transaction

12 April 2022

f)

Place of the transaction

LSE, AIM, XLON

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Ian Stalker

2

Reason for notification

a)

Position / status

Non-Executive Chairman

b)

Initial notification/Amendment

Initial

3

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

a)

Name

Bradda Head Lithium Limited

b)

LEI

213800T879QQXKR2WN54

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

Identification code

Ordinary Shares of nil par value each

ISIN VGG154091083

Warrant over ordinary shares

Nature of the transaction

Issued pursuant to participation in subscription

c)

Price(s) and volumes(s)

Price(s)	Volumes(s)
13.5p per ordinary share	83,423 Ordinary Shares 83,423 Warrants

d)

Aggregated information

n/a

e)

Date of the transaction

12 April 2022

f)

Place of the transaction

LSE, AIM, XLON

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Euan Jenkins

2

Reason for notification

a)

Position / status

Independent non-executive director

b)

Initial notification/Amendment

Initial

3

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

a)

Name

Bradda Head Lithium Limited

b)

LEI

213800T879QQXKR2WN54

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

Identification code

Ordinary Shares of nil par value each

ISIN VGG154091083

Warrant over ordinary shares

Nature of the transaction

Issued pursuant to participation in subscription

c)

Price(s) and volumes(s)

Price(s)	Volumes(s)
13.5p per ordinary share	43,480 Ordinary Shares 43,480 Warrants

d)

Aggregated information

n/a

e)

Date of the transaction

12 April 2022

f)

Place of the transaction

LSE, AIM, XLON

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Alex Borrelli

2

Reason for notification

a)

Position / status

Independent non-executive director

b)

Initial notification/Amendment

Initial

3

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

a)

Name

Bradda Head Lithium Limited

b)

LEI

213800T879QQXKR2WN54

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

Identification code

Ordinary Shares of nil par value each

ISIN VGG154091083

Warrant over ordinary shares

Nature of the transaction

Issued pursuant to participation in subscription

c)

Price(s) and volumes(s)

Price(s)	Volumes(s)
13.5p per ordinary share	21,740 Ordinary Shares 21,740 Warrants

d)

Aggregated information

n/a

e)

Date of the transaction

12 April 2022

f)

Place of the transaction

LSE, AIM, XLON

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Charles FitzRoy

2

Reason for notification

a)

Position / status

CEO

b)

Initial notification/Amendment

Initial

3

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

a)

Name

Bradda Head Lithium Limited

b)

LEI

213800T879QQXKR2WN54

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

Identification code

Ordinary Shares of nil par value each

ISIN VGG154091083

Warrant over ordinary shares

Nature of the transaction

Issued pursuant to participation in subscription

c)

Price(s) and volumes(s)

Price(s)	Volumes(s)
13.5p per ordinary share	2,174 Ordinary Shares 2,174 Warrants

d)

Aggregated information

n/a

e)

Date of the transaction

12 April 2022

f)

Place of the transaction

LSE, AIM, XLON

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