Technology Minerals Plc Approval and Publication of Prospectus

Technology Minerals Plc, the first UK company focused on creating a sustainable circular economy for battery metals, today confirms that its Prospectus in respect of the anticipated listing of its Ordinary Shares to trading on the standard segment of the Official List of the Financial Conduct Authority (the “Official List”) and to trading on the main market of the London Stock Exchange (together “Admission”), has been approved by the FCA and published by the Group.

It is expected that Admission will become effective and that dealings in the Group’s Ordinary Shares will commence at 08:00 GMT on Wednesday 17 November 2021, under the symbol “TM1”.

The Company has successfully raised gross proceeds of approximately £1.5 million (before expenses) through a placing of 66,666,667 New Ordinary Shares at a price of 2.25 pence per Ordinary Share. The Placing follows on from a pre-IPO fundraise in which the Company raised approximately £5 million. On Admission, the Company will have 1,212,312,941 ordinary shares in issue, with a market capitalisation of the Company on Admission of just under £27.3 million. The ISIN number is GB00BP094P47 and the SEDOL is BP094P4.

Alfred Henry Corporate Finance Limited is acting as Financial Adviser, and Arden Partners Plc is acting as Broker to the Company in relation to Admission. ‍

Overview

‍Technology Minerals is developing the UK's first listed, sustainable circular economy for battery metals, using cutting-edge technology to recycle, recover, and re-use battery technologies for a renewable energy future. TM is focused on extracting raw materials required for lithium-ion (“Li-ion”) batteries, whilst solving the ecological issue of spent Li-ion batteries, by recycling them for re-use by battery manufacturers. With the increasing global demand for battery metals to supply electrification, the Group will explore, mine, and recycle metals from spent batteries.

• Technology Minerals, upon Admission, will be a majority shareholder across a portfolio of battery metal projects. The Group owns 49% of a battery-recycling business, Recyclus Group Ltd (“Recyclus”).
• Recyclus is well-placed to take advantage of the burgeoning demand for lithium-ion and lead-acid batteries through the retrieval, recycling, and repurposing of used battery stock from collection points, large user waste directly, and other nodes like online recycling networks.
• Initially, Recyclus intends to sell salvaged material to third-party chemical processors who are fully able to recycle battery ‘black mass’ (residual but useable metals and chemicals) into commercially viable stock.
• Recyclus currently has plants on order for each technology (Li-ion and lead-acid) and these will be located on sites in the UK for the purpose of collecting used stock and converting it to black mass.
• Within 18 months, however, the Recyclus management team aims to launch a proprietary new technology that will allow collection, processing, and recycling to be undertaken fully at the Recyclus plant, with a view to collapsing the supply chain and enabling Recyclus to gain advantages in processing times and costs over its competitors.
•  TM will explore and, if warranted, develop and mine its exploration assets, focusing on cobalt, copper, nickel, manganese, and lithium to ensure a diversified portfolio:

Strategy and Rationale for Admission‍

A range of global economic, environmental, and consumer demand factors are driving the growth of the electric vehicle (EV) market.  As a result, electric vehicles reaching price parity with the internal combustion engine is seen as a key milestone in the world’s transition away from burning fossil fuels. The Board believes that a key enabler for this change to happen is the production and subsequent recycling of batteries and the materials required to produce them.

As the world shifts towards electric vehicles (and renewable energy), demand for critical metals that are essential for the manufacturing of the batteries needed to power them increases. By owning assets which help with the security and supply of these battery metals, and technology which can subsequently help in the recycling thereof, the Board believes that Technology Minerals can play an important role in the supply and security of battery metals.

TM will continue to identify and acquire critical mineral assets. The Group will then leverage its established relationships with partners and specialist mining contractors to explore and, if warranted, develop and mine these assets, with the ultimate goal of supplying sustainable raw materials critical for the growing demand from the UK and global battery market, and towards the concomitant battery metals recycling industry.

The Directors believe the Admission will support the Group’s growth strategy both in developing its exploration licences, and as Recyclus aims to launch a proprietary new technology that will allow collection, processing, and recycling to be undertaken fully at the Recyclus plant. ‍

‍Alexander Stanbury, Chief Executive Officer of Technology Minerals, says:

“Technology Minerals will be the UK’s first listed company to create a circular economy in the battery metals sector, covering the entire mineral life cycle from exploration and mining through to end-of-product recycling for cobalt, lithium, nickel, and manganese. The world is moving towards electric vehicles which in turn increases demand for metals essential for the batteries needed to power them. Through our ownership of assets which in the future can help with the supply of these battery metals, and technology that can assist in the recycling of batteries, we believe Technology Minerals will be at the forefront of helping the transition of the energy and automotive industry towards a more sustainable future.”

Enquiries

Technology Minerals Limited

Robin Brundle, Executive Chairman

Alexander Stanbury, Chief Executive Officer

+44 20 7618 9100‍

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Alfred Henry Corporate Finance Limited

Nick Michaels

+44 203 772 0021

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Arden  Partners Plc

Ruari McGirr

+44 207 614 5900

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Luther Pendragon

Harry Chathli, Alexis Gore, John Bick

+44 20 7618 9100

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Notes to Editors

Market Background‍

The Challenge ‍

As EVs replace the internal combustion engine, the strain on the battery metals industry will be huge. Lithium-ion batteries are a core platform technology for the 21st Century. The metal and mineral demand from the EV industry is already significant, but will be 2x that of consumer electronics as the industry grows. The battery supply chain, especially on the upstream end, is under capitalized, and will be the bottleneck in the rollout of electric vehicles. Since 2015, over $400bn has been committed to the electric vehicle supply chain. There are reserve shortages on the horizon for both cobalt and class 1 nickel, and it is already too late to bridge that gap in time. ‍

The Opportunity ‍

In 2019, the automotive and industrial battery market was worth €15 billion in Europe and €75 billion worldwide. This is forecast to rise to €35 billion and over €130 billion per year respectively by 2030. As a result, major manufacturers are, for the first time, scrambling to secure long-term supply stability of the materials required (nickel and cobalt), providing an urgent need in automotive and industry battery users to sustainably and affordably source materials.

Executive Board

Robin Brundle, Executive Chairman‍

A visionary and successful senior executive with a proven track record of maximising business opportunities, be they business growth, turnaround, exit strategy, or culture change, thus offering a compelling value-added proposition. A significant number of successful business turnarounds—covering both national and international brands in automotive, aerospace, defence, motorsport property development, and NHS. Well-connected with a broad range of high net-worth clients, governments, and senior directorships. ‘Opening doors to do real business with real people.’

Alexander Stanbury, CEO

Corporate finance specialist with extensive contacts in the City of London financial community. Founder of HASS Advisors Limited in 2011 – advising clients on growth strategies, project finance, and capital raisings. Experience in origination and syndication of both private and public placements for companies within the natural resource sector for the boutique merchant bank, Prosdocimi Limited. He founded Century Cobalt Corp and has over 15 years’ experience in the natural resource sector. Ex-Associate Director of London-based investment bank, Dawnay-Day Corporate Finance Limited. Experience in hedge fund management through his time at Lindemann Capital Partners LLP in New York (USA).

Nigel Ruddock, CFO

Nigel is an accountant and insolvency specialist and has spent over 30 years helping under per forming businesses to restructure and return to profitability. From 2000 to 2010, he specialised in the automotive sector and was Head of Automotive Services for Grant Thornton, during which time he led most of the major restructuring assignments of dealer groups in the UK. He was a regular visitor to Detroit during the Global Financial/Automotive crisis, and spent a lot of time inCologne working on restructuring a number of component suppliers. Nigel was Chairman of Grant Thornton UK, which then employed c.4,000 people, with are venue of about £450m. From 2010 to 2015, he was a member of the Leadership Board of Grant Thornton International, where he was responsible for developing their global advisory business, as well as helping develop the member firms in Asia Pacific and the Middle East. He spent a lot of time in China. During 2015 to 2017, Nigel was Chairman of an accounting firm in Singapore which was going through a period of change.

Lester Kemp, COO‍

Lester graduated in 1990 with a Masters Degree from the Royal School of Mines, University of London, and went on to work with GeoScience Limited in Ascot before running a gold exploration camp in Guyana. After completing his MBA, Lester worked with various junior resource companies operating throughoutAfrica, Europe and Scandinavia. Lester was Co-Founder of Mantle DiamondsLimited and is the Co-Founder of Arabian Nubian Resources.

Wilson Robb, CTO‍

Wilson is a graduate of the University of Glasgow with 30' years of experience in mineral exploration and the resources sector. With a current focus on gold in Africa, battery metals in Spain and Ireland, and base-metals in Africa, Ireland, Spain and Scotland, he specialises in sediment-hosted base-metal exploration, is as killed field geologist, an effective exploration manager, and project generator. Wilson co-founded Aurum in May 2002 and the company is today a global service provider of high-quality, cost-effective contract exploration, target generation, and exploration management to clients in the international mining and exploration industry, with a geographical focus on Africa, the Middle East and Europe and Ireland.

Non-Executive Board

Chang Oh Turkmani

Mrs Turkmani is a respected multilingual businesswoman with extensive experience in the import and export of industrial commodities, as well as the mining, manufacturing, construction, energy trading, shipping, environmental remediation, renewable energy, and investment advisory industries. She is a qualified lawyer in the US, having specialised in International Trade, Cross-Border Negotiation, Due Diligence, and Dispute Resolution. She is currently Managing Director and Principal of The Mega Company, based in Washington, DC—a role she has held since 1990. The Mega Company is a privateAmerican development and import and export business that principally deals with mineral raw materials and goods including iron ore, coking coal, rock phosphate, cement. She also has a senior leadership role at American Construction Technologies, based in Bucharest, Romania, having been appointed in 2003, where she is responsible for the development, construction, and management of one of the largest US developments in the highly specialised field of temperature-controlled warehouses and logistics. Other leadership roles include Managing Director at CDM Global, also based in Bucharest, which is an environmental remediation and industrial waste management, environmental due diligence, permitting and impact assessment business; and Crest Energy, which oversees the trading of electricity and gas and the production of renewable energy.

Nicholas Kounoupias‍

Nicholas Kounoupias qualified as a solicitor in 1988 and has always specialised in intellectual property law (“IP”). Nick practices across all areas of IP and has worked in almost all sectors that are underpinned by IP laws, with a particular focus on the music, film, branded goods, pharmaceutical, computer software and design sectors. Nick has held senior positions in all of these sectors and, between 1992 and 2008, ran the music industry’s anti-piracy unit. He was also previously a Director of the Anti-Counterfeiting Group, a Founder and former Vice-Chairman of the Alliance for IP, General Counsel of the Asian Media Group, and is currently Chief Counsel for Anti-Copying in Design (ACID). In 2016, Nick established his own IP consultancy, Kounoupias IP Limited, to help businesses identify, manage, and protect their IP. Nick is a well-known name and thought leader internationally in the field of IP and, in addition to providing regular training, has successfully lobbied for and drafted changes to the UK copyright and design laws.

Philip Beard‍

Philip has launched companies around the world, managed and leveraged global brands, and delivered extraordinary commercial results for companies, shareholders, third-party partners, and customers. He has been passionately involved in several highly successful UK and international businesses. Philip was a Founding Partner of Air Miles in 1988 and developed and launched hugely successful Air Miles companies in the UK, Canada, the Netherlands and Spain. Subsequently, Philip was a Director of the successful London 2012 Olympic and Paralympic bid team, and authored the Commercial Programme for the Games. In 2007, he left The London Organising Committee of the Olympic and Paralympic Games (LOCOG) to become CEO of The O2, located on the Greenwich peninsula in South-East London. There, Philip managed the team that turned the Millennium Dome into the most successful music and entertainment venue in the world. Philip was appointed CEO of Queens Park Rangers FC in 2012 and spent four years managing all aspects of the club on behalf of the owners, both on and off the pitch. Since leaving the club, Philip has been advising a variety of companies on business structure, strategy, and investment.