Empire Metals Limited Announces Warrant Exercise

Rhea-AI Summary

Empire Metals Limited (EPMLF) has announced the exercise of warrants resulting in the issuance of new ordinary shares. SP Angel Corporate Finance LLP exercised warrants for 70,000 shares at £0.06 per share, totaling £4,200. Additionally, Shard Capital Stockbrokers exercised warrants for 689,988 shares at £0.105 per share, amounting to £72,448.74. The company will apply for admission of these new shares to trading on AIM, expected to become effective around June 18, 2025. Following the admission, Empire Metals' total issued share capital will consist of 690,393,221 ordinary shares, representing the total number of voting rights in the company.

Positive

• Additional capital raised through warrant exercises totaling £76,648.74
• Demonstration of confidence from company brokers through warrant exercise

Negative

• Slight dilution of existing shareholders' ownership due to new share issuance

LONDON UNITED KINGDOM / ACCESS Newswire / June 12, 2025 / Empire Metals Limited ("Empire" or "the Company") (LON:EEE)(OTCQB:EPMLF), the AIM-quoted resource exploration and development company, announces that it has received notification from SP Angel Corporate Finance LLP, Nominated Adviser and Broker to the Company, of the exercise of a warrant over 70,000 new ordinary shares of no par value in the share capital of the Company (the 'New Ordinary Shares') at a price of £0.06 per share. Accordingly, the Company has today issued the New Ordinary Shares to the warrant holder for an aggregate cash value of £4,200. The Company has also received notification from Shard Capital Stockbrokers, Broker to the Company, of the exercise of a warrant over 689,988 new ordinary shares of no-par value in the share capital of the Company (the 'New Ordinary Shares') at a price of £0.105 per share. Accordingly, the Company has today issued the New Ordinary Shares to the warrant holder for an aggregate cash value of £72,448.74.

Application for Admission

Application will be made to the London Stock Exchange for the new shares to be admitted to trading on AIM ('Admission'). It is expected that Admission will become effective on or around 18 June 2025.

Following Admission of the new shares as described above, the issued share capital of the Company will consist of 690,393,221 ordinary shares of no-par value. 690,393,221 represents the total number of voting rights in the Company and may be used by shareholders as the denominator for the calculations by which they can determine if they are required to notify their interest in, or a change to their interest in the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

**ENDS**

For further information please visit www.empiremetals.co.uk or contact:

Empire Metals Ltd Shaun Bunn / Greg Kuenzel / Arabella Burwell	Tel: 020 4583 1440
S. P. Angel Corporate Finance LLP (Nomad & Broker) Ewan Leggat / Adam Cowl	Tel: 020 3470 0470
Shard Capital Partners LLP (Joint Broker) Damon Heath	Tel: 020 7186 9950
St Brides Partners Ltd (Financial PR) Susie Geliher / Charlotte Page	Tel: 020 7236 1177

About Empire Metals Limited

Empire Metals is an AIM-listed exploration and resource development company (LON: EEE) with a primary focus on developing Pitfield, an emerging giant titanium project in Western Australia.

The high-grade titanium discovery at Pitfield is of unprecedented scale, with airborne surveys identifying a massive, coincident gravity and magnetics anomaly extending over 40km by 8km by 5km deep. Drill results have indicated excellent continuity in grades and consistency of the mineralised beds and confirm that the sandstone beds hold the higher-grade titanium dioxide (TiO₂) values within the interbedded succession of sandstones, siltstones and conglomerates. The Company is focused on two key prospects (Cosgrove and Thomas), which have been identified as having thick, high-grade, near-surface, bedded TiO₂ mineralisation, each being over 7km in strike length.

An Exploration Target* for Pitfield was declared in 2024, covering the Thomas and Cosgrove mineral prospects, and was estimated to contain between 26.4 to 32.2 billion tonnes with a grade range of 4.5 to 5.5% TiO₂. Included within the total Exploration Target* is a subset that covers the weathered sandstone zone, which extends from surface to an average vertical depth of 30m to 40m and is estimated to contain between 4.0 to 4.9 billion tonnes with a grade range of 4.8 to 5.9% TiO₂.

The Exploration Target* covers an area less than 20% of the overall mineral system at Pitfield which demonstrates the potential for significant further upside.

Empire is now accelerating the economic development of Pitfield, with a vision to produce a high-value titanium metal or pigment quality product at Pitfield, to realise the full value potential of this exceptional deposit.

The Company also has two further exploration projects in Australia; the Eclipse Project and the Walton Project in Western Australia, in addition to three precious metals projects located in a historically high-grade gold producing region of Austria.

*The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Empire Metals Limited

View the original press release on ACCESS Newswire

FAQ

How many new shares is Empire Metals (EPMLF) issuing through the warrant exercise?

Empire Metals is issuing a total of 759,988 new ordinary shares through two warrant exercises - 70,000 shares at £0.06 and 689,988 shares at £0.105 per share.

What is the total amount of capital raised by Empire Metals through these warrant exercises?

Empire Metals raised a total of £76,648.74, consisting of £4,200 from SP Angel's warrant exercise and £72,448.74 from Shard Capital's warrant exercise.

When will the new Empire Metals shares be admitted to trading on AIM?

The new shares are expected to be admitted to trading on AIM around June 18, 2025.

What will be Empire Metals' total issued share capital after the warrant exercise?

Following the admission of new shares, Empire Metals' total issued share capital will consist of 690,393,221 ordinary shares.