Guardian Metal Resources PLC Announces Launch of Roadshow for US Initial Public Offering

Rhea-AI Summary

Guardian Metal Resources (OTCQX:GMTLF / seeking NYSE American: GMTL) launched a U.S. IPO roadshow on March 16, 2026 for approximately $50 million of ADSs, each ADS representing five ordinary shares. Based on an assumed price, the offering would equal ~3,058,100 ADSs, with a 45‑day 15% overallotment option.

Proceeds are intended to advance the Pilot Mountain tungsten project, fund Tempiute exploration and early engineering, and for general corporate purposes; listing and completion remain subject to market and SEC effectiveness.

Positive

• Proposed capital raise of $50 million to fund projects
• ADS structure: 1 ADS represents 5 ordinary shares
• Use of proceeds prioritizes Pilot Mountain development and Tempiute exploration
• Planned listing on NYSE American (GMTL) increases U.S. market access

Negative

• Offering is subject to market and other conditions; completion not assured
• Registration statement filed with the SEC has not yet become effective
• All ADSs will be sold by the company, causing share dilution
• Underwriters have a 45‑day option for up to 15% additional ADSs, increasing potential dilution

News Market Reaction – GMTLF

+8.01%

1 alert

+8.01% News Effect

On the day this news was published, GMTLF gained 8.01%, reflecting a notable positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

LONDON, UK / ACCESS Newswire / March 16, 2026 / Guardian Metal Resources plc (LON:GMET)(OTCQX:GMTLF), a US-focused exploration-stage company focused on tungsten in Nevada, US, is pleased to announce that it has launched the roadshow for its initial public offering in the United States of approximately $50 million worth of American Depositary Shares ("ADSs"), each representing five (5) ordinary shares, before underwriting discounts and commissions.

The last reported sale price of Guardian Metal's ordinary shares on March 12, 2026 on AIM, a market of the London Stock Exchange, was £2.45 per ordinary share (equivalent to approximately $16.35 per ADS based on an assumed exchange rate of £1.00 to $1.3349). Based on such assumed offering price, before underwriting discounts and commissions, the estimated total offering size would represent an aggregate of 3,058,100 ADSs. Guardian Metal also expects to grant to the underwriters a 45-day option to purchase up to an additional 15% of the offering size of ADSs at the initial public offering price, before underwriting discounts and commissions. All ADSs to be sold in the proposed offering will be sold by Guardian Metal. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Guardian Metal has applied to list its ADSs on the NYSE American under the ticker symbol "GMTL."
Guardian Metal intends to use the net proceeds from the offering primarily to advance development of its Pilot Mountain tungsten project, as well as to fund exploration and early-stage engineering work at the Tempiute project and other exploration targets and for general corporate purposes.

BMO Capital Markets Corp. is acting as lead book-running manager; Cantor Fitzgerald & Co. is acting as bookrunning manager; and D.A. Davidson & Co. and Berenberg Capital Markets LLC are each acting as co-managers for the offering.

Tamesis Partners LLP is acting as capital markets advisor to Guardian Metal.

The proposed offering will be made only by means of a prospectus. A copy of the preliminary prospectus related to the offering can be obtained from: BMO Capital Markets Corp., Attn: Equity Syndicate Department, 151 W 42nd Street, 32nd Floor, New York, NY 10036, or by email at bmoprospectus@bmo.com.

For the avoidance of doubt, such prospectus will not constitute a "prospectus" for the purposes of (i) Regulation (EU) 2017/1129 (the "EU Prospectus Regulation") and will not have been reviewed by any competent authority in any EU member state or (ii) the UK's Public Offers and Admissions to Trading Regulations 2024 (the "POATRs") and will not have been reviewed by the Financial Conduct Authority.
A registration statement relating to the ADSs has been filed with the U.S. Securities and Exchange Commission (the "SEC") but has not yet become effective. The ADSs may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.This announcement does not constitute or form part of an offer to sell or issue, or a solicitation of an offer to subscribe for or buy securities. Neither this announcement nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer, solicitation, sale or commitment whatsoever in any jurisdiction in which such offer, solicitation, sale or commitment would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

In any member state of the European Economic Area (the "EEA") this announcement and any offering are only addressed to and directed at persons who are "qualified investors" ("EU Qualified Investors") within the meaning of the EU Prospectus Regulation. In the United Kingdom, this announcement and any offering are only addressed to and directed at persons who are qualified investors within the meaning of paragraph 15 of Schedule 1 of the POATRs ("UK Qualified Investors") and who are investment professionals as specified in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Financial Promotion Order") or high net worth companies, unincorporated associations etc. as defined in Article 49(2) of the Financial Promotion Order, or to other persons to which it may otherwise lawfully be communicated or caused to be communicated (all such persons being referred to as "relevant persons").

This announcement must not be acted on or relied on (i) in the United Kingdom, by persons who are not relevant persons, and (ii) in any member state of the EEA, by persons who are not EU Qualified Investors. Any investment or investment activity to which this announcement relates is available only to and will only be engaged with (i) in the United Kingdom, relevant persons, and (ii) in any member state of the EEA, EU Qualified Investors.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018).

Forward Looking Statements

This announcement contains forward-looking statements relating to expected or anticipated future events and anticipated results that are forward-looking in nature, including statements with regard to Guardian Metal's proposed securities offering, and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, competition for qualified staff, the regulatory process and actions, technical issues, new legislation, uncertainties resulting from potential delays or changes in plans, uncertainties resulting from working in a new political jurisdiction, uncertainties regarding the results of exploration, uncertainties regarding the timing and granting of prospecting rights, uncertainties regarding the timing and granting of regulatory and other third party consents and approvals, uncertainties regarding Guardian Metal's or any third party's ability to execute and implement future plans, and the occurrence of unexpected events. Completion of the proposed offering and the terms thereof are subject to numerous factors, many of which are beyond the control of Guardian Metal, including, without limitation, market conditions, failure of customary closing conditions and the risk factors and other matters set forth in Guardian Metal's filings with the SEC. Guardian Metal undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.

The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may or should be placed by any person for any purpose on the information contained in this announcement or its accuracy, fairness or completeness. The information in this announcement is subject to change.

For further information in the United States contact the following:

Edelman Smithfield Financial PR in the US

guardianmetal@edelmansmithfield.com

For further information in the United Kingdom contact the following:

Guardian Metal Resources plc Oliver Friesen (CEO)	Tel: +44 (0) 20 7078 8496
Cairn Financial Advisers LLP Nominated Adviser Sandy Jamieson/Jo Turner/Louise O'Driscoll	Tel: +44 (0) 20 7213 0880
Berenberg Joint Broker and Financial Adviser Jennifer Lee/Ivan Briechle	Tel: +44 (0) 20 3207 7800
Tamesis Partners LLP Joint Broker Charlie Bendon/Richard Greenfield	Tel: +44 (0) 20 3882 2868
Tavistock Financial PR in the UK Emily Moss/Josephine Clerkin	Tel: +44 (0) 7920 3150 / +44 (0) 7788 554035 guardianmetal@tavistock.co.uk

About Guardian Metal Resources
Guardian Metal Resources PLC (LON: GMET, OTCQX: GMTLF) is a US-focused exploration-stage company focused on tungsten in Nevada, US. Its principal tungsten asset is the Pilot Mountain project, followed by the Tempiute project, which are both situated in historic tungsten districts with well-known occurrences of mineralization that have seen prior tungsten mining activity by third parties.

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: Guardian Metal Resources PLC

View the original press release on ACCESS Newswire

FAQ

What is Guardian Metal's planned U.S. offering size and ADS structure (GMTLF / GMTL)?

The company plans approximately $50 million of ADSs, each ADS representing five ordinary shares. According to the company, the assumed offering price implies about 3,058,100 ADSs before underwriting discounts and commissions.

How will Guardian Metal (GMTLF) use the net proceeds from the proposed U.S. IPO?

Proceeds are intended primarily to advance the Pilot Mountain tungsten project and to fund Tempiute exploration and early engineering. According to the company, remaining funds will support general corporate purposes.

On which exchange does Guardian Metal intend to list its ADSs and what ticker will it use?

Guardian Metal intends to list ADSs on the NYSE American under the ticker GMTL. According to the company, listing is sought as part of the proposed offering subject to customary conditions.

What underwriting terms and dilution features are included in Guardian Metal's IPO (GMTLF)?

Underwriters include BMO and Cantor Fitzgerald, with a 45‑day option to buy up to 15% additional ADSs. According to the company, all offered ADSs will be sold by Guardian Metal, implying issuer dilution.

Is Guardian Metal's (GMTLF) registration statement effective and is the offering guaranteed?

No; the registration statement has been filed with the SEC but has not yet become effective, and completion is subject to market and other conditions. According to the company, there is no assurance the offering will occur.