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Marula Mining Plc - Exercise of Warrants and Convertible Loan Note

PR Newswire

London, April 6

Marula Mining PLC

(“Marula’’ or the “Company”)

6 April 2023

Exercise of Warrants and Convertible Loan Note

Marula Mining (AQSE: MARU), an African focused mining and development company, announces that it has received notifications for the exercise of warrants over 2,820,000 new ordinary shares in the Company at an exercise price of 4 pence per share ("the Warrant Shares") providing the Company with proceeds of £112,800.

In addition, further to its announcement of 27 October 2022, Brahma Finance (BVI) Limited ("Brahma") has today converted all of the £265,000 of convertible loan notes into new ordinary shares in the Company at a conversion price of 2 pence per share (the “Loan Note Shares”). Accordingly, the Company has issued 13,250,000 new ordinary shares in the Company to Brahma.

Admission

Application has been made for the Warrant Shares and the Loan Note Shares to be admitted to trading on Aquis Stock Exchange Growth Market (“Admission") on or around 14 April 2023 and will rank pari passu with the ordinary shares of the Company in issue.

Total voting rights

Following Admission, the Company's issued share capital will comprise 124,859,748 ordinary shares of 0.01p each, with each share carrying the right to one vote, therefore the total number of voting rights in the Company will be 124,859,748. This figure may be used by shareholders as the denominator for calculations by which they will determine if they are required to notify their interest in the Company, or a change to their interest in the Company, under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

The Directors of Marula are responsible for the contents of this announcement. This announcement contains inside information for the purposes of UK Market Abuse Regulation.

About Marula Mining

Marula Mining (AQSE: MARU) is an African focused battery metals investment and exploration company and has interests in several high value mine projects in Africa; Blesberg Lithium and Tantalum Mine in South Africa, Nkombwa Hill Project in Zambia and Kinusi Copper mine, Bagamoyo Graphite Project and Nyorinyori Graphite Project in Tanzania. As we advance operations at these battery metals focused projects, Marula will continue to build and expand its interests in other high-quality projects in Africa.

Marula’s strategy is to identify and invest in advanced and high-value mining projects throughout East, Central and Southern Africa that the Directors believe would deliver returns for its shareholders. The Board and management team aims to establish Marula as a socially and environmentally responsible, sustainable, and profitable producer of critical metals and commodities that are of increasingly strategic importance to modern technologies and the global economy.

Marula’s shares are traded on the AQUIS Stock Exchange (AQSE), Marula is exploring opportunities to admit its shares to trading on AIM, the market operated by the London Stock Exchange’s plc, and Kenya’s Nairobi Securities Exchange.

For enquiries contact:


Marula Mining PLC Jason Brewer, Chief Executive Officer Faith Kinyanjui Mumbi Investor Relations	Email : [email protected] Email : [email protected]
AQSE Corporate Adviser Cairn Financial Advisers LLP, Liam Murray / Ludovico Lazzaretti	+44 (0)20 7213 0880
Broker Peterhouse Capital Limited, Charles Goodfellow / Duncan Vasey	+44 (0)20 7469 0930
Financial PR and IR BlytheRay Tim Blythe / Megan Ray / Said Izagaren	+44 (0)20 7138 3204

Caution;

Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identi?ed by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements re?ect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.