METALNRG PLC

Share Issue/Capital Change • Nov 15, 2018

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MetalNRG Plc - Strategic Financing

PR Newswire

London, November 15

15th November 2018

MetalNRG PLC

(The "Company" or “MetalNRG”)

Strategic Financing

MetalNRG (LON:MNRG), the London NEX Exchange Growth Market quoted natural resource investing company, is pleased to announce a strategic financing raising  £159,500 through a placing and the exercise of Directors’ options. 

Highlights:

* Financing undertaken through a placing (“Placing”) of 9,700,000 new ordinary shares of 0.01p (“Placing Shares”), raising £97,000 at 1p per share to support the Company as it implements its strategic plans and Investing Strategy. Rolf Gerritsen, MetalNRG’s CEO, has participated in the Placing.

* Each Placing Share is accompanied by one warrant to subscribe for one new ordinary share at an exercise price of 2p per share, expiring 24 months from the date of this announcement.

* In addition, the Company has been notified that certain Directors will be exercising their options at exercise prices of 0.5p and 0.75p and as a result will be subscribing for 8,500,000 new ordinary shares of 0.01 p (“New Shares”) for a total consideration of £62,500.  

* The overall funding will enable the Company to progress its investment in the Uranium mine, for which the Company is still in an option period until 28 December 2018, pursuant to the announcement of 16 August 2018, and support the team in the Kyrgyz Republic towards delivering a mining licence for the project. Additionally, the funding will enable the Company to progress planning work at its Gold Ridge Project in Arizona, USA and drive forward other key strategic initiatives that the Board is keen on delivering.

Rolf Gerritsen Chief Executive Officer of MetalNRG PLC commented:

"I am delighted to announce the completion of this important fund raising and expect further updates will be released to the market in the near term on the advancement of other key strategic initiatives."

Following the issue of the Placing Shares and the New Shares the Directors’ holdings are as follows:

Director	Shares pre- fund raising	Placing Shares	New Shares	Shares post fund raising	% holding	Warrants remaining and exercise price***
Christopher Latilla Campbell *	33,040,442	-	3,000,000 (at 0.75p)	36,040,442	17.54%	3,500,000 (at 3p)
Gervaise Heddle	12,513,634	-	3,000,000 (at 0.75p)	15,513,634	7.56%	Nil
Christian Schaffalitzky	2,100,000	-	2,000,000 (at 0.75p) 500,000 (at 0.5p)	4,600,000	2.24%	Nil
Rolf Gerritsen **	-	1,000,000 (at 1p)	-	1,000,000	0.49%	1,000,000 (at 2p)
	47,654,076			57,154,076	27.83%

* Christopher Latilla-Campbell’s interests includes 24,750,000 shares held by Buchanan Trading Inc, in whose shares he is deemed to be interested, as he is a potential beneficiary of a discretionary trust which controls it.

** As announced on 23rd February 2018, Rolf Gerritsen will be subscribing for a further 2,500,000 ordinary shares at 2p per share.

*** Following the exercise of the Directors’ options, no options will remain outstanding.

Issue of Equity

The Placing Shares and the New Shares are to be issued and are expected to be admitted to trading on NEX Exchange Growth Market on or around [16]th November 2018.

Total Voting Rights

For the purposes of the Financial Conduct Authority's Disclosure and Transparency Rules ("DTRs"), following completion of the issue of the Placing Shares and the New Shares referred to above, the issued ordinary share capital of MetalNRG will consist of 205,218,980 ordinary shares with voting rights attached (one vote per share). There are no shares held in treasury.  This total voting rights figure may be used by shareholders as the denominator for the calculation by which they will determine whether they are required to notify their interest in, or a change to their interest in, MetalNRG under the DTRs.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. Rolf Gerritsen, Chief Executive Officer of MetalNRG, arranged for the release of this announcement.

The Directors of the Company accept responsibility for the contents of this announcement.

Contact details:

MetalNRG PLC Rolf Gerritsen (Chief Executive Officer)	+44 (0) 20 7796 9060
NEX Exchange Corporate Adviser PETERHOUSE CAPITAL LIMITED Guy Miller/Mark Anwyl	+44 (0) 20 7469 0930
Corporate Broker SI CAPITAL Nick Emerson	+44 (0) 1483 413500

Notes to Editor

MetalNRG owns the Gold Ridge Project in Arizona, U.S.A, which includes three historically producing gold mines. The project consists of approximately 2,305 acres (9.3km2) of tenement including 343 acres of patented mining claims, 112 company-owned un-patented mining claims; and 12 leased un-patented mining claims. The Company’s interests include three historical producing gold mines; Gold Prince mine; Gold Ridge mine and Dives mine; each was worked over various intervals between discovery in 1877 and 1996. Project has a NI43-101 compliant Technical Report dated 30th December 2016.

The Company has an option agreement to acquire 51% of the Kamyshanovskoye uranium project in the Kyrgyz Republic.