Conversion of loan and issue of equity

April 10th, 2019

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Alien Metals Ltd, the AIM quoted exploration and development company, reports today that pursuant to the convertible loan agreement entered into on 26 February 2019 (“CLA”), the Company has today issued 202,247,000 units to Gravner Ltd at a price of 0.1 pence each, in full settlement of the subsisting convertible loan (announced by the Company on 27 February 2019), of £202,247.

Each unit comprises one new Common share of no par value (“Common Shares”), and one share purchase warrant exercisable at a price of 0.15 pence until 31 January 2022.

This conversion extinguishes all amounts outstanding under the CLA. £300,000 remains available, to be drawn down exclusively at the Company’s discretion, under the terms of the CLA.

Application will be made to the London Stock Exchange plc for 202,247,000 new Common Shares to be admitted to trading on AIM with admission expected to occur at 8:00am on or around 17 April 2019.

The new Common Shares rank pari passu in all respects with the existing Common Shares including the right to receive any dividend or other distribution thereafter declared, made or paid.There are no Ordinary Shares held in treasury. Therefore, the total number of voting rights in the Company, following the issue of 202,247,000 new Common Shares will be 918,389,941.

Following this issuance of shares, Gravner Ltd is interested in 22.02% of the Common Shares of the Company.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

For further information please visit the Company’s website at www.alienmetals.uk, or contact:

Alien Metals Limited

Dennis Edmonds, Executive Chairman

David Taylor, Company Secretary
Tel: +44 (0)20 7887 6599

Yellow Jersey PR Limited

Felicity Winkles/Annabel Atkins

Tel: +44 (0)774 884 3871

Beaumont Cornish Limited (Nomad)

James Biddle/ Roland Cornish

www.beaumontcornish.com

Tel: +44 (0) 207 628 3396

First Equity Limited (Broker)

Jason Robertson

Tel +44 (0)20 7374 2212

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