First Class Metals plc has issued 15,914,535 new ordinary shares to clear a shares loan, meet options and accelerated share-based payments, and satisfy professional fees for its projects in Ontario, Canada.
PROPERTIES
The company allotted 9,500,001 new ordinary shares of £0.001 each to executive chairman James Knowles to settle his loan of shares.
The company said that the facility had incurred no fees or interest charges.
FCM has also issued 1,751,351 ordinary shares to Nuinsco Resources to satisfy the 2025 option payment due under the Zigzag lithium property agreement.
A total of 1,630,552 ordinary shares will be issued to the beneficial owners for the Kerrs gold property option to meet the 2025 option payment.
The company has additionally issued 2,580,143 ordinary shares to satisfy accelerated 2026 and 2027 share-based payments, equal to CAD$100,000, agreed with counterparties to the Kerrs option.
An aggregrate 452,488 ordinary shares have also been issued for professional fees to a service provider.
Following admission of the 15,914,535 new ordinary shares, FCM’s issued share capital will comprise 233,655,896 ordinary shares of 0.1p each, with voting rights.
The company does not hold any shares in treasury.