Guardian Metal Launches Roadshow for US Initial Public Offering

Guardian Metal Launches Roadshow for US Initial Public Offering

Guardian Metal Resources: A Decade in the Making, A Development Story Emerging

Guardian Metal Resources plc (LON: GMET, OTCQB: GMTLF), a US-focused tungsten exploration company with projects in Nevada, has launched the roadshow for its proposed US initial public offering, targeting proceeds of around $50 million through the sale of American Depositary Shares (ADSs).

Each ADS will represent five ordinary shares. Based on the last reported AIM share price of £2.45 on 12 March 2026—equivalent to roughly $16.35 per ADS using an exchange rate of £1 = $1.3349—the offering could comprise approximately 3,058,100 ADSs, before underwriting discounts and commissions.

Guardian Metal also intends to grant underwriters a 45-day option to purchase up to an additional 15% of the offering, potentially increasing the total size of the deal. All ADSs in the proposed transaction will be issued by the company. The offering remains subject to market conditions, and there is no guarantee it will proceed or be completed on the currently proposed terms.

The company has applied to list the ADSs on the NYSE American under the ticker “GMTL.”

Proceeds from the IPO will primarily be used to advance development of the Pilot Mountain tungsten project, as well as to fund exploration and early-stage engineering work at the Tempiute project and other exploration targets, alongside general corporate purposes.

BMO Capital Markets Corp. is acting as lead book-running manager, with Cantor Fitzgerald & Co. serving as book-running manager. D.A. Davidson & Co. and Berenberg Capital Markets LLC are acting as co-managers, while Tamesis Partners LLP is advising Guardian Metal on capital markets.

The proposed offering will be made solely by means of a prospectus, with copies of the preliminary prospectus available from BMO Capital Markets Corp..

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