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LONDON - Capital Metals PLC (AIM:CMET) announced Tuesday it has agreed to extend the option period for Ambeon Capital PLC to invest in the company until August 15, 2025.
The extension relates to Ambeon’s option 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 this option has been subscribed for, with Capital Metals stating it believes agreements for the remaining balance "are going to be reached imminently."
This extension follows Ambeon’s initial strategic investment of $2 million announced on May 29, 2025, and a previous extension disclosed on July 16.
Capital Metals is developing the Taprobane Minerals Project in Sri Lanka, which contains industrial minerals including ilmenite, rutile, zircon, and garnet. The company describes it as "one of the highest-grade mineral sands projects globally."
As Ambeon is classified as a Substantial Shareholder in Capital Metals under AIM Rules, the option extension constitutes a related party transaction. The company’s independent directors, having consulted with nominated adviser Strand Hanson Limited, consider the terms "fair and reasonable" for shareholders.
Ambeon Capital is a Colombo Stock Exchange listed conglomerate with interests across information technology, financial services, real estate and strategic investments in Sri Lanka.
This article is based on a press release statement from Capital Metals.
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