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LONDON - Capital Metals PLC (AIM:CMET) announced Tuesday it has agreed to extend the option period for Ambeon Capital PLC’s potential additional investment by two weeks until September 2, 2025.
This marks the third extension of the option period, following previous extensions announced on July 16 and August 12, 2025. The option allows Ambeon and/or its third-party assignees to invest up to an additional $2 million in Capital Metals at an issue price of 2.75 pence per share.
To date, $825,000 of the option has been subscribed for, with the company’s board stating it expects the full balance is likely to be exercised based on ongoing discussions.
The extension is classified as a related party transaction under AIM Rule 13, as Ambeon is a substantial shareholder in Capital Metals. The company’s independent directors, after consulting with nominated adviser Strand Hanson Limited, consider the terms of the extension fair and reasonable for shareholders.
The original agreement was announced on May 29, 2025, when Ambeon made a strategic investment of $2 million in Capital Metals, which is developing the Taprobane Minerals Project in Sri Lanka.
Capital Metals describes the Taprobane project as one of the highest-grade mineral sands projects globally, containing industrial minerals including ilmenite, rutile, zircon, and garnet. A 2022 third-party assessment valued the project at $155-235 million based on existing resources.
The information in this article is based on a press release statement from Capital Metals.
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