Fulcrum Metals plc (AIM: FMET) has completed its Bonus Warrant Acceleration Offer, strengthening its balance sheet as it advances work on its tailings projects.
The company raised £834,575 through the exercise of 16,691,495 warrants under the acceleration offer. A further 2,916,668 warrants were exercised separately, generating approximately £145,833.
In addition, Fulcrum issued 1,458,335 Second Tranche Bonus Warrants, exercisable at 10p until August 2027.
The company also settled £98,250 of fees through the issue of 927,045 new ordinary shares to service providers.
In total, 3,843,713 new ordinary shares are expected to be admitted to trading around 2 March 2026, increasing the company’s total issued share capital to 142,130,752 ordinary shares.
Management said the additional funds will support ongoing development work across its tailings assets, including a pilot scoping study and the advancement of a resource estimate.
Use of Proceeds
The proceeds from the warrant exercises further reinforce Fulcrum’s financial position and will fund parallel workstreams across its tailings portfolio. This includes advancing the pilot scoping study, progressing toward maiden Mineral Resource Estimates, and assessing potential integrated production scenarios.
Chief Executive Officer Ryan Mee thanked participating warrant holders, noting that the level of take-up provides additional momentum as the company continues developing its tailings assets.
He added that shareholders can expect further updates in the coming weeks, including progress from the ongoing pilot scoping study and additional assay results from the Teck-Hughes and Sylvanite projects. These initiatives are aimed at upscaling operations, reducing project risk, and advancing the assets toward potential development pathways.
