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LONDON - Metals One Plc (AIM:MET1) has received notice for the exercise of cash warrants over 93 million ordinary shares at 2 pence per share, the minerals exploration company announced Tuesday.
The warrant exercise, which raises approximately £1.86 million, substantially completes the cash warrant portion of an equity fundraise initially announced on January 31, 2025, with only 850,000 cash warrants remaining outstanding.
Additionally, the company has issued 380,000 ordinary shares at 5 pence per share to settle a deferred consideration obligation related to its acquisition of Scandinavian Resource Holdings Pty Ltd, through which it gained interest in the Råna Nickel Project in Norway.
The new shares are expected to be admitted to trading on AIM effective Wednesday, August 20, 2025. Following admission, Metals One’s issued share capital will consist of 839,946,460 ordinary shares with voting rights.
"Through the Equity Fundraise, which completed in April, and the associated Cash Warrants, Metals One has undergone a transformational refinancing, allowing us to make opportunistic investments and broaden our commodity exposure, with a strategic weighting to uranium and gold," said Craig Moulton, Chair of Metals One, in the press release statement.
The company indicated it is now fully funded to advance its projects and business development strategy, with exploration interests spanning multiple commodities in various jurisdictions.
Metals One focuses on minerals exploration and development with key interests in uranium and gold projects.
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