Fulcrum Metals plc has raised gross £550,000 through a direct subscription with a new single investor, for five million new ordinary shares of one pence each, at 11 pence per share.
TVRs
The issue price is a premium of approximately 4.8% to the closing mid-market price of the company’s ordinary shares on 6 March 2026.
Net proceeds will go towards Fulcrum’s Ontario tailings projects and pilot plant, and will include a pilot scoping study, preparations for mineral resource estimates and evaluation of production possibilities.
The company also issued 227,273 new ordinary shares, at the same issue price, to a service provider to settle subscription fees of £25,000.
Fulcrum additionally announced it intended to introduce a share options incentive plan for its executive directors and other staff members.
Following admission, the company’s issued ordinary share capital will comprise 147,358,025 ordinary shares of one pence each, with one voting right each.
Fulcrum does not hold any ordinary shares in treasury.
The company is focused on using non-cyanide technology to extract metals from the former Teck-Hughes and Sylvanite gold mines tailings in the Kirkland Lake mining camp.